Aubrey Capital Management Ltd Trims Stake in Construction Partners, Inc. $ROAD

Key Points

• Aubrey Capital Management Ltd has reduced its stake in Construction Partners, Inc. by 11.0% during the second quarter, now holding 40,500 shares valued at approximately $4.3 million.
• Multiple hedge funds have adjusted their positions in Construction Partners, with 94.83% of the stock currently owned by institutional investors.
• Analysts have mixed ratings for the stock, with Zacks upgrading it to a strong-buy and a consensus price target of $112.33.

Aubrey Capital Management Ltd reduced its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 11.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,500 shares of the company's stock after selling 5,000 shares during the period. Construction Partners comprises 1.6% of Aubrey Capital Management Ltd's portfolio, making the stock its 20th largest holding. Aubrey Capital Management Ltd owned 0.07% of Construction Partners worth $4,304,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC bought a new position in shares of Construction Partners in the second quarter worth approximately $344,000. GAMMA Investing LLC boosted its position in shares of Construction Partners by 33.6% in the second quarter. GAMMA Investing LLC now owns 1,164 shares of the company's stock worth $124,000 after purchasing an additional 293 shares during the period. Janney Montgomery Scott LLC bought a new position in shares of Construction Partners in the second quarter worth approximately $802,000. KLP Kapitalforvaltning AS boosted its position in shares of Construction Partners by 7.7% in the second quarter. KLP Kapitalforvaltning AS now owns 9,800 shares of the company's stock worth $1,042,000 after purchasing an additional 700 shares during the period. Finally, Teacher Retirement System of Texas bought a new position in shares of Construction Partners in the first quarter worth approximately $491,000. 94.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Weiss Ratings reiterated a "hold (c+)" rating on shares of Construction Partners in a research report on Wednesday, October 8th. Zacks Research upgraded shares of Construction Partners from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 6th. Raymond James Financial reiterated a "strong-buy" rating on shares of Construction Partners in a research report on Friday, August 8th. Baird R W raised shares of Construction Partners from a "hold" rating to a "strong-buy" rating in a report on Friday, August 8th. Finally, Robert W. Baird set a $122.00 target price on shares of Construction Partners and gave the stock an "outperform" rating in a report on Friday, August 8th. Three equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $112.33.

Construction Partners Price Performance

ROAD stock opened at $115.59 on Friday. Construction Partners, Inc. has a one year low of $64.79 and a one year high of $138.90. The company's fifty day moving average price is $121.91 and its 200-day moving average price is $104.97. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.20 and a current ratio of 1.47. The company has a market capitalization of $6.48 billion, a PE ratio of 84.37, a price-to-earnings-growth ratio of 1.00 and a beta of 0.98.

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

Construction Partners Profile

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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