Construction Partners, Inc. $ROAD Shares Sold by Conestoga Capital Advisors LLC

Key Points

• Conestoga Capital Advisors trimmed its position in Construction Partners by 5.0% in Q4, selling 106,850 shares and now holds 2,025,002 shares (about 3.58% of the company) valued at roughly $219.8 million, making ROAD its fourth-largest holding.
• Construction Partners posted strong quarterly results, beating estimates with $0.47 EPS versus $0.31 expected and revenue of $809.5M (vs. $740.1M), a 44.1% year-over-year increase.
• Analyst sentiment is broadly positive with a MarketBeat average rating of Moderate Buy and an average target of $132.40, alongside several recent upgrades and raised price targets from firms like Raymond James and B. Riley.

Conestoga Capital Advisors LLC lowered its holdings in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,025,002 shares of the company's stock after selling 106,850 shares during the quarter. Construction Partners accounts for about 3.7% of Conestoga Capital Advisors LLC's holdings, making the stock its 4th biggest position. Conestoga Capital Advisors LLC owned about 3.58% of Construction Partners worth $219,814,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. TD Waterhouse Canada Inc. acquired a new stake in Construction Partners in the third quarter valued at $25,000. AlphaQuest LLC lifted its holdings in Construction Partners by 292.5% in the third quarter. AlphaQuest LLC now owns 208 shares of the company's stock valued at $26,000 after acquiring an additional 155 shares during the period. Morse Asset Management Inc raised its stake in shares of Construction Partners by 300.0% during the 3rd quarter. Morse Asset Management Inc now owns 240 shares of the company's stock worth $30,000 after buying an additional 180 shares during the last quarter. Danske Bank A S acquired a new position in shares of Construction Partners during the 3rd quarter worth $38,000. Finally, Quarry LP acquired a new position in shares of Construction Partners during the 3rd quarter worth $42,000. Institutional investors and hedge funds own 94.83% of the company's stock.

Analyst Ratings Changes

ROAD has been the subject of several research reports. Raymond James Financial reaffirmed a "strong-buy" rating and set a $140.00 price target on shares of Construction Partners in a research note on Monday. B. Riley Financial raised Construction Partners from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $117.00 to $135.00 in a research note on Thursday, April 2nd. Weiss Ratings raised Construction Partners from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, April 21st. Zacks Research downgraded Construction Partners from a "strong-buy" rating to a "hold" rating in a research note on Monday. Finally, DA Davidson lifted their price target on Construction Partners from $120.00 to $130.00 and gave the stock a "neutral" rating in a research note on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Construction Partners currently has an average rating of "Moderate Buy" and an average target price of $132.40.

Construction Partners Trading Up 7.2%

Construction Partners stock opened at $123.66 on Friday. The stock has a market cap of $6.99 billion, a PE ratio of 56.21, a P/E/G ratio of 1.02 and a beta of 0.92. The stock has a 50-day moving average price of $119.23 and a 200 day moving average price of $115.72. Construction Partners, Inc. has a 52 week low of $83.00 and a 52 week high of $141.90. The company has a current ratio of 1.59, a quick ratio of 1.26 and a debt-to-equity ratio of 1.76.

Construction Partners (NASDAQ:ROAD - Get Free Report) last posted its quarterly earnings data on Thursday, February 5th. The company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.16. The firm had revenue of $809.47 million during the quarter, compared to analysts' expectations of $740.14 million. Construction Partners had a return on equity of 15.26% and a net margin of 3.99%.The firm's quarterly revenue was up 44.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.25 EPS. Equities research analysts predict that Construction Partners, Inc. will post 2.87 earnings per share for the current fiscal year.

Construction Partners Profile

Construction Partners, Inc NASDAQ: ROAD is a specialty contractor and infrastructure solutions provider focused on road building, paving, site development and aggregate production. The company delivers a comprehensive suite of civil construction services, including roadway paving and milling, site grading and preparation, stormwater and utility installation, and full-scale asphalt plant operations. By integrating materials production with contracting capabilities, the firm aims to streamline project delivery and maintain quality control across its contracting and materials businesses.

At the heart of Construction Partners' operations are its network of asphalt plants, quarries and aggregate production facilities.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.