Brant Point Investment Management LLC Buys 54,083 Shares of Construction Partners, Inc. $ROAD

Key Points

• Brant Point Investment Management LLC significantly increased its stake in Construction Partners, Inc. by 270.4%, acquiring an additional 54,083 shares in the first quarter, bringing its total holdings to 74,083 shares.
• Despite a year-over-year revenue growth of 50.5%, Construction Partners reported earnings per share (EPS) of $0.81, falling short of analysts' estimates of $0.87, and had revenues of $779.28 million versus expected $810.47 million.
• Following positive analyst recommendations, Construction Partners received upgrades with a price target of $122.00 and a consensus rating of "Buy" with a price target of $112.33.

Brant Point Investment Management LLC lifted its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 270.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 74,083 shares of the company's stock after purchasing an additional 54,083 shares during the period. Construction Partners accounts for 0.6% of Brant Point Investment Management LLC's holdings, making the stock its 22nd biggest position. Brant Point Investment Management LLC owned about 0.13% of Construction Partners worth $5,324,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Construction Partners by 5.0% during the 1st quarter. Vanguard Group Inc. now owns 3,666,331 shares of the company's stock worth $263,499,000 after purchasing an additional 173,963 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in Construction Partners by 0.5% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,592,079 shares of the company's stock valued at $186,293,000 after acquiring an additional 12,808 shares during the period. Bank of America Corp DE raised its stake in Construction Partners by 2.6% in the 4th quarter. Bank of America Corp DE now owns 1,119,051 shares of the company's stock valued at $98,991,000 after acquiring an additional 28,723 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Construction Partners by 39.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 856,528 shares of the company's stock valued at $62,724,000 after acquiring an additional 240,496 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in Construction Partners by 10.9% in the 1st quarter. Ameriprise Financial Inc. now owns 792,993 shares of the company's stock valued at $56,992,000 after acquiring an additional 78,042 shares during the period. Institutional investors own 94.83% of the company's stock.

Construction Partners Stock Performance

ROAD stock traded down $1.57 during trading hours on Monday, hitting $119.90. 320,441 shares of the stock were exchanged, compared to its average volume of 641,855. The company has a current ratio of 1.47, a quick ratio of 1.20 and a debt-to-equity ratio of 1.63. The firm has a market capitalization of $6.73 billion, a P/E ratio of 87.52, a P/E/G ratio of 1.54 and a beta of 0.99. The company has a 50-day simple moving average of $108.01 and a two-hundred day simple moving average of $93.12. Construction Partners, Inc. has a 12 month low of $56.52 and a 12 month high of $124.12.

Construction Partners (NASDAQ:ROAD - Get Free Report) last posted 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 firm had revenue of $779.28 million for the quarter, compared to the consensus estimate of $810.47 million. Construction Partners had a return on equity of 12.24% and a net margin of 3.04%.The firm's quarterly revenue was up 50.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.59 EPS. Construction Partners has set its FY 2025 guidance at EPS. On average, analysts forecast that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on ROAD. Raymond James Financial restated a "strong-buy" rating on shares of Construction Partners in a research note on Friday, August 8th. Robert W. Baird set a $122.00 price target on Construction Partners and gave the company an "outperform" rating 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 note on Friday, August 8th. Two equities 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 stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $112.33.

Construction Partners Company 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.