Russell Investments Group Ltd. Buys 9,992 Shares of Construction Partners, Inc. $ROAD

Key Points

• Russell Investments Group Ltd. increased its stake in Construction Partners, Inc. by 10.6%, owning 104,317 shares worth approximately $7.5 million.
• Construction Partners received favorable ratings from several analysts, with Baird R W upgrading the stock to a "strong-buy" and setting a price target of $122.00.
• Despite reporting a miss on quarterly earnings projections with $0.81 per share, the company experienced a year-over-year revenue growth of 50.5%.

Russell Investments Group Ltd. grew its position in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 10.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 104,317 shares of the company's stock after buying an additional 9,992 shares during the period. Russell Investments Group Ltd. owned approximately 0.19% of Construction Partners worth $7,497,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Montag A & Associates Inc. bought a new stake in shares of Construction Partners in the first quarter valued at about $29,000. Versant Capital Management Inc acquired a new position in shares of Construction Partners in the 1st quarter valued at approximately $30,000. Johnson Financial Group Inc. bought a new stake in shares of Construction Partners during the 4th quarter worth approximately $66,000. Golden State Wealth Management LLC increased its stake 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 acquiring an additional 563 shares during the last quarter. Finally, Covestor Ltd raised its position in Construction Partners by 124.4% during the first quarter. Covestor Ltd now owns 1,409 shares of the company's stock valued at $101,000 after purchasing an additional 781 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company's stock.

Construction Partners Trading Up 4.0%

Shares of NASDAQ:ROAD traded up $4.62 during midday trading on Friday, hitting $120.60. 899,152 shares of the stock were exchanged, compared to its average volume of 667,746. The stock has a market capitalization of $6.76 billion, a price-to-earnings ratio of 88.03, a P/E/G ratio of 1.49 and a beta of 1.00. 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, Inc. has a 12 month low of $56.52 and a 12 month high of $122.97. The business's 50-day moving average price is $106.27 and its 200 day moving average price is $91.61.

Construction Partners (NASDAQ:ROAD - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The company 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 quarterly revenue was up 50.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.59 EPS. Construction Partners has set its FY 2025 guidance at EPS. Analysts predict that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ROAD. Robert W. Baird set a $122.00 price target on Construction Partners and gave the company an "outperform" rating in a research note on Friday, August 8th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Construction Partners in a research note 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 equities 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. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $112.33.

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.