Construction Partners, Inc. $ROAD Shares Acquired by Lord Abbett & CO. LLC

Key Points

• Lord Abbett & CO. LLC has increased its holdings in Construction Partners, Inc. by 38.8%, now owning approximately 0.63% of the company worth $25.3 million.
• Construction Partners reported earnings of $0.81 per share, missing estimates by $0.06, with revenues of $779.28 million compared to expected $810.47 million.
• Analysts from Robert W. Baird set a price target of $122.00 for Construction Partners, upgrading their rating to "strong-buy" on August 8th.

Lord Abbett & CO. LLC increased its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 38.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 352,430 shares of the company's stock after buying an additional 98,571 shares during the quarter. Lord Abbett & CO. LLC owned about 0.63% of Construction Partners worth $25,329,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of ROAD. Manchester Capital Management LLC raised its stake in shares of Construction Partners by 9.2% in the 1st quarter. Manchester Capital Management LLC now owns 1,461 shares of the company's stock worth $105,000 after buying an additional 123 shares in the last quarter. Amalgamated Bank boosted its position in Construction Partners by 8.8% in the 1st quarter. Amalgamated Bank now owns 1,593 shares of the company's stock valued at $114,000 after buying an additional 129 shares during the last quarter. ANB Bank lifted its stake in shares of Construction Partners by 4.2% in the 1st quarter. ANB Bank now owns 4,105 shares of the company's stock valued at $295,000 after purchasing an additional 164 shares during the period. Stephens Inc. AR raised its stake in shares of Construction Partners by 2.3% in the 1st quarter. Stephens Inc. AR now owns 8,498 shares of the company's stock valued at $611,000 after purchasing an additional 187 shares during the period. Finally, Summit Investment Advisors Inc. grew its holdings in shares of Construction Partners by 5.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,492 shares of the company's stock valued at $397,000 after acquiring an additional 213 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company's stock.

Construction Partners Price Performance

Shares of NASDAQ:ROAD traded up $0.3620 during midday trading on Thursday, reaching $115.1420. 78,843 shares of the company were exchanged, compared to its average volume of 561,493. Construction Partners, Inc. has a one year low of $56.52 and a one year high of $119.99. The company has a current ratio of 1.47, a quick ratio of 1.20 and a debt-to-equity ratio of 1.63. The business's fifty day moving average is $105.71 and its two-hundred day moving average is $91.10. The stock has a market cap of $6.46 billion, a PE ratio of 84.23, a price-to-earnings-growth ratio of 1.43 and a beta of 1.00.

Construction Partners (NASDAQ:ROAD - Get Free Report) last posted its 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). Construction Partners had a net margin of 3.04% and a return on equity of 12.24%. The firm had revenue of $779.28 million for the quarter, compared to analysts' expectations of $810.47 million. During the same period in the previous year, the company earned $0.59 EPS. The company's revenue was up 50.5% on a year-over-year basis. Construction Partners has set its FY 2025 guidance at EPS. As a group, analysts predict that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Analyst Ratings Changes

ROAD has been the subject of a number of analyst reports. Raymond James Financial reiterated a "strong-buy" rating on shares of Construction Partners in a research 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, Robert W. Baird set a $122.00 price objective on shares of Construction Partners and gave the stock an "outperform" rating 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 issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus 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.