Construction Partners, Inc. $ROAD Shares Bought by LPL Financial LLC

Key Points

• LPL Financial LLC increased its stake in Construction Partners, Inc. by 16.3%, holding 45,371 shares valued at approximately $3.26 million as of the latest SEC filing.
• Construction Partners reported an EPS of $0.81 for the latest quarter, missing the consensus estimate of $0.87, but showed a significant revenue growth of 50.5% year-over-year.
• Several analysts have given positive ratings, with Robert W. Baird setting a price target of $122.00 and upgrading the company's rating to "strong-buy".

LPL Financial LLC boosted its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 16.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,371 shares of the company's stock after acquiring an additional 6,365 shares during the period. LPL Financial LLC owned 0.08% of Construction Partners worth $3,261,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Artemis Investment Management LLP grew its stake in shares of Construction Partners by 225.9% in the 1st quarter. Artemis Investment Management LLP now owns 695,949 shares of the company's stock valued at $50,018,000 after buying an additional 482,374 shares during the period. First Trust Advisors LP grew its stake in shares of Construction Partners by 44.9% in the 4th quarter. First Trust Advisors LP now owns 839,873 shares of the company's stock valued at $74,295,000 after buying an additional 260,148 shares during the period. Lord Abbett & CO. LLC purchased a new stake in shares of Construction Partners in the 4th quarter valued at approximately $22,456,000. Allspring Global Investments Holdings LLC grew its stake in shares of 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 buying an additional 240,496 shares during the period. Finally, Fred Alger Management LLC grew its stake in shares of Construction Partners by 36.9% in the 4th quarter. Fred Alger Management LLC now owns 324,384 shares of the company's stock valued at $28,695,000 after buying an additional 87,487 shares during the period. Hedge funds and other institutional investors own 94.83% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Raymond James Financial reissued a "strong-buy" rating on shares of Construction Partners in a research note on Friday, August 8th. Baird R W raised shares of 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 price target on shares of Construction Partners and gave the company an "outperform" rating in a research note 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 given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $112.33.

Construction Partners Trading Up 1.8%

Shares of ROAD stock traded up $2.0250 during trading hours on Wednesday, hitting $113.4850. The company had a trading volume of 285,937 shares, compared to its average volume of 562,269. The company's fifty day moving average is $105.51 and its 200 day moving average is $90.93. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.47 and a quick ratio of 1.20. Construction Partners, Inc. has a fifty-two week low of $56.52 and a fifty-two week high of $119.99. The stock has a market capitalization of $6.37 billion, a PE ratio of 82.82, a price-to-earnings-growth ratio of 1.39 and a beta of 1.00.

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

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.