MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Decreases Position in Construction Partners, Inc. $ROAD

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lessened its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 35.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 370,511 shares of the company's stock after selling 201,850 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.66% of Construction Partners worth $26,628,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Manchester Capital Management LLC increased its position in shares of Construction Partners by 9.2% in the first quarter. Manchester Capital Management LLC now owns 1,461 shares of the company's stock valued at $105,000 after acquiring an additional 123 shares during the last quarter. Amalgamated Bank grew its holdings in Construction Partners by 8.8% during the first quarter. Amalgamated Bank now owns 1,593 shares of the company's stock worth $114,000 after purchasing an additional 129 shares during the period. ANB Bank grew its holdings in Construction Partners by 4.2% during the first quarter. ANB Bank now owns 4,105 shares of the company's stock worth $295,000 after purchasing an additional 164 shares during the period. Stephens Inc. AR grew its holdings in Construction Partners by 2.3% during the first quarter. Stephens Inc. AR now owns 8,498 shares of the company's stock worth $611,000 after purchasing an additional 187 shares during the period. Finally, Nicolet Advisory Services LLC grew its holdings in Construction Partners by 10.5% during the first quarter. Nicolet Advisory Services LLC now owns 3,035 shares of the company's stock worth $237,000 after purchasing an additional 288 shares during the period. Institutional investors and hedge funds own 94.83% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on ROAD. Baird R W upgraded Construction Partners from a "hold" rating to a "strong-buy" rating in a report on Friday, August 8th. Robert W. Baird set a $122.00 price objective on Construction Partners and gave the stock an "outperform" rating in a report on Friday, August 8th. Finally, Raymond James Financial restated a "strong-buy" rating on shares of Construction Partners in a report on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $112.33.

Construction Partners Price Performance

Shares of NASDAQ:ROAD traded up $0.29 during trading on Friday, hitting $125.20. 335,453 shares of the company were exchanged, compared to its average volume of 469,316. The company has a quick ratio of 1.20, a current ratio of 1.47 and a debt-to-equity ratio of 1.63. Construction Partners, Inc. has a 1-year low of $63.71 and a 1-year high of $125.70. The company has a market capitalization of $7.02 billion, a P/E ratio of 91.39, a price-to-earnings-growth ratio of 1.64 and a beta of 0.99. The business's 50 day moving average is $111.13 and its 200-day moving average is $96.23.

Construction Partners (NASDAQ:ROAD - Get Free Report) last issued 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 firm had revenue of $779.28 million for 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 business's revenue was up 50.5% compared to the same quarter last year. During the same period last year, the company posted $0.59 EPS. Construction Partners has set its FY 2025 guidance at EPS. Equities analysts forecast that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

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.