Construction Partners, Inc. $ROAD Shares Acquired by Kayne Anderson Rudnick Investment Management LLC

Key Points

• Kayne Anderson Rudnick Investment Management LLC increased its stake in Construction Partners, Inc. by purchasing an additional 12,808 shares, raising its ownership to 2,592,079 shares, valued at approximately $186.3 million.
• Construction Partners reported quarterly earnings showing a 50.5% year-over-year revenue increase but missed EPS estimates by $0.06, with a reported $0.81 EPS compared to the consensus of $0.87.
• Analyst ratings indicate a consensus of "Buy" for Construction Partners, with two analysts rating it as "Strong Buy," highlighting a target price of $122.00.

Kayne Anderson Rudnick Investment Management LLC raised its stake in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 0.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,592,079 shares of the company's stock after buying an additional 12,808 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 4.64% of Construction Partners worth $186,293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Teacher Retirement System of Texas bought a new position in shares of Construction Partners in the 1st quarter worth $491,000. Asset Management One Co. Ltd. lifted its holdings in shares of Construction Partners by 15.5% during the 1st quarter. Asset Management One Co. Ltd. now owns 76,119 shares of the company's stock valued at $5,471,000 after purchasing an additional 10,226 shares during the last quarter. Tyro Capital Management LLC boosted its position in shares of Construction Partners by 20.1% in the 4th quarter. Tyro Capital Management LLC now owns 242,309 shares of the company's stock worth $21,435,000 after purchasing an additional 40,608 shares in the last quarter. LPL Financial LLC grew its stake in Construction Partners by 16.3% during the 1st quarter. LPL Financial LLC now owns 45,371 shares of the company's stock worth $3,261,000 after buying an additional 6,365 shares during the last quarter. Finally, Swiss National Bank increased its position in Construction Partners by 5.7% during the 1st quarter. Swiss National Bank now owns 91,000 shares of the company's stock valued at $6,540,000 after buying an additional 4,900 shares in the last quarter. Institutional investors own 94.83% of the company's stock.

Wall Street Analyst Weigh In

ROAD has been the subject of several recent analyst reports. Robert W. Baird set a $122.00 price target on Construction Partners and gave the stock an "outperform" rating in a report on Friday, August 8th. Baird R W raised shares of Construction Partners from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 8th. Finally, Raymond James Financial restated a "strong-buy" rating on shares of Construction Partners in a research note on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $112.33.

Construction Partners Price Performance

ROAD stock traded up $0.19 during midday trading on Thursday, reaching $121.47. The stock had a trading volume of 347,956 shares, compared to its average volume of 562,098. The company has a market cap of $6.81 billion, a price-to-earnings ratio of 88.66, a price-to-earnings-growth ratio of 1.57 and a beta of 1.00. Construction Partners, Inc. has a 52-week low of $56.52 and a 52-week high of $124.12. The company's fifty day simple moving average is $107.30 and its 200 day simple moving average is $92.39. The company has a current ratio of 1.47, a quick ratio of 1.20 and a debt-to-equity ratio of 1.63.

Construction Partners (NASDAQ:ROAD - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). Construction Partners had a return on equity of 12.24% and a net margin of 3.04%.The business had revenue of $779.28 million during the quarter, compared to analysts' expectations of $810.47 million. During the same period last year, the business earned $0.59 earnings per share. The company's revenue for the quarter was up 50.5% compared to the same quarter last year. Construction Partners has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal 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.