Construction Partners, Inc. $ROAD Shares Acquired by Thurston Springer Miller Herd & Titak Inc.

Key Points

• Thurston Springer Miller Herd & Titak Inc. increased its holdings in Construction Partners, Inc. by 797% during Q2, acquiring 2,096 additional shares for a total of 2,359 shares valued at $251,000.
• Construction Partners reported a net margin of 3.04% with earnings per share of $0.81, missing estimates, while revenue rose 50.5% compared to the previous year.
• Analysts have a consensus rating of "Buy" for the stock, with a target price averaging $112.33 following positive ratings from multiple firms.

Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 797.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,359 shares of the company's stock after acquiring an additional 2,096 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.'s holdings in Construction Partners were worth $251,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Construction Partners by 5.0% during the first 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 during the period. Kayne Anderson Rudnick Investment Management LLC raised its stake in Construction Partners by 0.5% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,592,079 shares of the company's stock worth $186,293,000 after purchasing an additional 12,808 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Construction Partners by 39.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 856,528 shares of the company's stock worth $62,724,000 after purchasing an additional 240,496 shares during the period. Driehaus Capital Management LLC raised its stake in Construction Partners by 10.3% during the first quarter. Driehaus Capital Management LLC now owns 828,846 shares of the company's stock worth $59,569,000 after purchasing an additional 77,641 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in Construction Partners by 10.9% during the first quarter. Ameriprise Financial Inc. now owns 792,993 shares of the company's stock worth $56,992,000 after purchasing an additional 78,042 shares during the period. Institutional investors and hedge funds own 94.83% of the company's stock.

Construction Partners Trading Up 0.9%

NASDAQ ROAD opened at $126.32 on Tuesday. Construction Partners, Inc. has a one year low of $64.52 and a one year high of $128.86. The company has a 50-day simple moving average of $111.51 and a 200-day simple moving average of $96.78. 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 firm has a market capitalization of $7.09 billion, a PE ratio of 92.20, a price-to-earnings-growth ratio of 1.60 and a beta of 0.99.

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

Wall Street Analyst Weigh In

ROAD has been the topic of a number of research reports. 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. Robert W. Baird set a $122.00 target price on shares of Construction Partners and gave the company an "outperform" rating in a research note on Friday, August 8th. Finally, Raymond James Financial reissued a "strong-buy" rating on shares of Construction Partners in a research note on Friday, August 8th. Two 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target 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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