Cetera Investment Advisers Sells 7,622 Shares of Construction Partners, Inc. $ROAD

Key Points

• Cetera Investment Advisers significantly reduced its stake in Construction Partners, Inc. by 53.0%, selling 7,622 shares and holding 6,767 shares valued at $486,000 afterwards.
• Construction Partners reported earnings per share of $0.81 for the last quarter, missing expectations, with revenue at $779.28 million, below analysts' projections.
• Several analysts have upgraded their ratings on Construction Partners, with Robert W. Baird setting a price target of $122.00 and issuing an "outperform" rating.

Cetera Investment Advisers cut its holdings in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 53.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,767 shares of the company's stock after selling 7,622 shares during the period. Cetera Investment Advisers' holdings in Construction Partners were worth $486,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Amalgamated Bank boosted its stake in shares of Construction Partners by 8.8% in the 1st quarter. Amalgamated Bank now owns 1,593 shares of the company's stock worth $114,000 after buying an additional 129 shares during the last quarter. Stephens Inc. AR boosted its stake in shares of Construction Partners by 2.3% in the 1st quarter. Stephens Inc. AR now owns 8,498 shares of the company's stock worth $611,000 after buying an additional 187 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in shares of Construction Partners by 5.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,492 shares of the company's stock worth $397,000 after buying an additional 213 shares during the last quarter. Bridges Investment Management Inc. boosted its stake in shares of Construction Partners by 5.2% in the 1st quarter. Bridges Investment Management Inc. now owns 6,671 shares of the company's stock worth $479,000 after buying an additional 327 shares during the last quarter. Finally, Montag A & Associates Inc. purchased a new position in shares of Construction Partners in the 1st quarter worth approximately $29,000. 94.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have 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. Baird R W upgraded Construction Partners from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 8th. Finally, Robert W. Baird set a $122.00 target price on Construction Partners and gave the stock an "outperform" rating in a research note on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Construction Partners currently has a consensus rating of "Buy" and a consensus target price of $112.33.

Construction Partners Stock Performance

Construction Partners stock traded up $2.0250 during trading on Wednesday, hitting $113.4850. The stock had a trading volume of 285,937 shares, compared to its average volume of 562,269. The stock has a market cap of $6.37 billion, a price-to-earnings ratio of 82.82, a price-to-earnings-growth ratio of 1.39 and a beta of 1.00. The stock's 50 day moving average is $105.51 and its two-hundred day moving average is $90.93. Construction Partners, Inc. has a 1 year low of $56.52 and a 1 year high of $119.99. The company has a quick ratio of 1.20, a current ratio of 1.47 and a debt-to-equity ratio of 1.63.

Construction Partners (NASDAQ:ROAD - Get Free Report) last posted its earnings results 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 company had revenue of $779.28 million for 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 revenue was up 50.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 EPS. Construction Partners has set its FY 2025 guidance at EPS. As a group, analysts predict that Construction Partners, Inc. will post 1.96 EPS for the current 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.