Janney Montgomery Scott LLC Takes Position in Construction Partners, Inc. $ROAD

Key Points

• Janney Montgomery Scott LLC has acquired a new stake in Construction Partners, Inc. (NASDAQ:ROAD), buying 7,544 shares valued at approximately $802,000.
• Construction Partners recently reported a net margin of 3.04% and earnings per share of $0.81, missing the consensus estimate of $0.87.
• Institutional investors own 94.83% of the company's stock, reflecting significant interest in Construction Partners among large investors.

Janney Montgomery Scott LLC bought a new stake in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 7,544 shares of the company's stock, valued at approximately $802,000.

Other institutional investors have also modified their holdings of the company. Montag A & Associates Inc. acquired a new position in shares of Construction Partners in the first quarter valued at approximately $29,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Construction Partners in the first quarter valued at approximately $60,000. SVB Wealth LLC acquired a new position in shares of Construction Partners in the first quarter valued at approximately $80,000. Golden State Wealth Management LLC increased its holdings in shares of 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 purchasing an additional 563 shares during the period. Finally, Covestor Ltd increased its holdings in shares of Construction Partners by 124.4% in 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 during the period. Institutional investors and hedge funds own 94.83% of the company's stock.

Construction Partners Stock Down 6.3%

Shares of NASDAQ:ROAD opened at $116.00 on Thursday. 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 52-week low of $64.79 and a 52-week high of $138.90. The stock's fifty day simple moving average is $121.69 and its 200-day simple moving average is $104.67. The company has a market capitalization of $6.51 billion, a P/E ratio of 84.67, a P/E/G ratio of 1.07 and a beta of 0.98.

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 (EPS) 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 during the quarter, compared to analysts' expectations of $810.47 million. During the same quarter in the prior year, the company earned $0.59 earnings per share. The firm'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, equities research analysts forecast that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. 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. Baird R W raised Construction Partners from a "hold" rating to a "strong-buy" 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. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Construction Partners in a report on Wednesday, October 8th. Finally, Zacks Research raised Construction Partners from a "hold" rating to a "strong-buy" rating in a report on Monday, October 6th. Three analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, Construction Partners presently has a consensus rating of "Buy" and a consensus price target of $112.33.

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.

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