Catawba River Capital Sells 81,052 Shares of Construction Partners, Inc. $ROAD

Key Points

• Catawba River Capital reduced its stake in Construction Partners, Inc. by 26.2%, selling 81,052 shares and now holds 0.41% of the company worth approximately $24.27 million.
• Construction Partners reported a quarterly EPS of $0.81, which fell short of the consensus estimate of $0.87, with revenue also under expectations at $779.28 million.
• Equities research analysts have given Construction Partners a consensus rating of "Buy" with a target price averaging $112.33, indicating positive sentiment towards the stock's performance.

Catawba River Capital lowered its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 26.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 228,347 shares of the company's stock after selling 81,052 shares during the period. Construction Partners accounts for 12.3% of Catawba River Capital's investment portfolio, making the stock its largest position. Catawba River Capital owned 0.41% of Construction Partners worth $24,269,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Montag A & Associates Inc. purchased a new stake in Construction Partners in the first quarter valued at $29,000. Hazlett Burt & Watson Inc. raised its position in Construction Partners by 88.9% in the second quarter. Hazlett Burt & Watson Inc. now owns 425 shares of the company's stock valued at $45,000 after purchasing an additional 200 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Construction Partners in the first quarter valued at $60,000. SVB Wealth LLC purchased a new stake in Construction Partners in the first quarter valued at $80,000. Finally, Golden State Wealth Management LLC raised its position in Construction Partners by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 1,126 shares of the company's stock valued at $81,000 after purchasing an additional 563 shares during the period. Hedge funds and other institutional investors own 94.83% of the company's stock.

Construction Partners Price Performance

ROAD stock opened at $115.59 on Friday. 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 company has a market capitalization of $6.48 billion, a PE ratio of 84.37, a P/E/G ratio of 1.00 and a beta of 0.98. Construction Partners, Inc. has a 12-month low of $64.79 and a 12-month high of $138.90. The business's fifty day moving average price is $121.91 and its 200 day moving average price is $104.97.

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 (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). The firm had revenue of $779.28 million during 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 quarterly revenue was up 50.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.59 EPS. Construction Partners has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Construction Partners, Inc. will post 1.96 EPS for the current year.

Wall Street Analyst Weigh In

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