Driehaus Capital Management LLC Raises Stock Holdings in Construction Partners, Inc. $ROAD

Key Points

• Driehaus Capital Management LLC increased its holdings in Construction Partners, Inc. by 10.3% in the first quarter, owning approximately 1.48% of the company's shares valued at $59.57 million.
• For the latest quarterly earnings, Construction Partners reported earnings per share of $0.81, falling short of analysts' estimates by $0.06, with revenue of $779.28 million.
• The stock has a current consensus rating of "Buy" with a price target of $112.33, following several upgrades from research analysts.

Driehaus Capital Management LLC boosted its position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 10.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 828,846 shares of the company's stock after buying an additional 77,641 shares during the period. Driehaus Capital Management LLC owned approximately 1.48% of Construction Partners worth $59,569,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its holdings in Construction Partners by 13.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 34,089 shares of the company's stock worth $3,016,000 after purchasing an additional 3,943 shares during the last quarter. Aquatic Capital Management LLC bought a new stake in Construction Partners during the 4th quarter valued at $702,000. Tudor Investment Corp ET AL bought a new stake in Construction Partners during the 4th quarter valued at $391,000. Northern Trust Corp increased its stake in Construction Partners by 5.1% during the 4th quarter. Northern Trust Corp now owns 428,291 shares of the company's stock valued at $37,887,000 after purchasing an additional 20,876 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in Construction Partners by 2.6% during 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 purchasing an additional 28,723 shares in the last quarter. Institutional investors own 94.83% of the company's stock.

Wall Street Analysts Forecast Growth

ROAD has been the topic of a number of analyst reports. Robert W. Baird set a $122.00 price objective on shares of Construction Partners and gave the stock an "outperform" rating in a report on Friday, August 8th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Construction Partners in a report on Friday, August 8th. Finally, Baird R W raised shares of Construction Partners from a "hold" rating to a "strong-buy" rating in a report on Friday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $112.33.

Construction Partners Trading Down 1.3%

ROAD stock traded down $1.59 on Tuesday, reaching $118.31. The company's stock had a trading volume of 340,584 shares, compared to its average volume of 558,748. The business has a fifty day simple moving average of $108.27 and a two-hundred day simple moving average of $93.42. Construction Partners, Inc. has a 12-month low of $56.52 and a 12-month high of $124.12. The firm has a market cap of $6.64 billion, a PE ratio of 86.36, a PEG ratio of 1.54 and a beta of 0.99. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.20 and a current ratio of 1.47.

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