Ameriprise Financial Inc. Buys 78,042 Shares of Construction Partners, Inc. $ROAD

Key Points

• Ameriprise Financial Inc. increased its stake in Construction Partners, Inc. by 10.9%, acquiring an additional 78,042 shares to own approximately 1.42% of the company's stock valued at $56.99 million.
• Construction Partners reported quarterly earnings of $0.81 per share, missing expectations by $0.06 and generating $779.28 million in revenue, which was below the anticipated $810.47 million.
• Analysts have a consensus "Buy" rating for Construction Partners, with two firms issuing a Strong Buy rating and an average price target of $112.33.

Ameriprise Financial Inc. increased its stake in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 10.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 792,993 shares of the company's stock after acquiring an additional 78,042 shares during the period. Ameriprise Financial Inc. owned about 1.42% of Construction Partners worth $56,992,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Montag A & Associates Inc. bought a new stake in Construction Partners during the first quarter worth about $29,000. Versant Capital Management Inc purchased a new position in Construction Partners in the 1st quarter worth $30,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Construction Partners in the first quarter worth $60,000. Golden State Wealth Management LLC boosted its position in Construction Partners by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 1,126 shares of the company's stock valued at $81,000 after buying an additional 563 shares during the period. Finally, Covestor Ltd grew its stake in shares of Construction Partners by 124.4% during the first quarter. Covestor Ltd now owns 1,409 shares of the company's stock valued at $101,000 after buying an additional 781 shares during the last quarter. Hedge funds and other institutional investors own 94.83% of the company's stock.

Construction Partners Stock Down 0.8%

NASDAQ ROAD opened at $121.28 on Thursday. Construction Partners, Inc. has a 1 year low of $56.52 and a 1 year high of $122.97. The stock has a market capitalization of $6.80 billion, a PE ratio of 88.53, a PEG ratio of 1.57 and a beta of 1.00. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.47 and a quick ratio of 1.20. The business's 50-day moving average is $107.30 and its 200 day moving average is $92.39.

Construction Partners (NASDAQ:ROAD - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). The business had revenue of $779.28 million during the quarter, compared to analysts' expectations of $810.47 million. Construction Partners had a return on equity of 12.24% and a net margin of 3.04%.The company's quarterly revenue was up 50.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.59 EPS. Construction Partners has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

ROAD has been the topic of several analyst reports. Robert W. Baird set a $122.00 price objective on Construction Partners and gave the stock an "outperform" rating in a report on Friday, August 8th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Construction Partners in a research note on Friday, August 8th. Finally, Baird R W upgraded Construction Partners from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Construction Partners has a consensus rating of "Buy" and an average price target of $112.33.

About Construction Partners

Construction Partners, Inc, a civil infrastructure company, constructs and maintains roadways in Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee. The company provides various products and services to public and private infrastructure projects, such as highways, roads, bridges, airports, and commercial and residential developments.

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