Oak Ridge Investments LLC decreased its holdings in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 4.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,658 shares of the company's stock after selling 2,184 shares during the quarter. Oak Ridge Investments LLC owned 0.09% of Construction Partners worth $5,384,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of ROAD. Montag A & Associates Inc. acquired a new stake in Construction Partners in the 1st quarter worth about $29,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Construction Partners in the 1st quarter worth about $60,000. SVB Wealth LLC acquired a new stake in Construction Partners in the 1st quarter worth about $80,000. Golden State Wealth Management LLC increased its holdings in Construction Partners by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,126 shares of the company's stock valued at $81,000 after buying an additional 563 shares during the period. Finally, Covestor Ltd increased its holdings in Construction Partners by 124.4% in the 1st quarter. Covestor Ltd now owns 1,409 shares of the company's stock valued at $101,000 after buying an additional 781 shares during the period. Institutional investors and hedge funds own 94.83% of the company's stock.
Construction Partners Trading Up 1.4%
Shares of Construction Partners stock opened at $122.98 on Friday. The firm has a market capitalization of $6.90 billion, a PE ratio of 89.77, a price-to-earnings-growth ratio of 1.06 and a beta of 0.98. 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 firm's 50 day moving average is $120.12 and its 200 day moving average is $103.87. Construction Partners, Inc. has a 1 year low of $64.79 and a 1 year high of $138.90.
Construction Partners (NASDAQ:ROAD - Get Free Report) last announced its quarterly earnings results 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). The company 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 company's revenue for the quarter was up 50.5% compared to the same quarter last year. During the same period last year, the firm posted $0.59 earnings per share. Construction Partners has set its FY 2025 guidance at EPS. Equities research analysts forecast that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities analysts have commented on ROAD shares. Raymond James Financial reissued a "strong-buy" rating on shares of Construction Partners in a report on Friday, August 8th. Zacks Research raised shares of Construction Partners from a "hold" rating to a "strong-buy" rating in a report on Monday, October 6th. Baird R W raised shares of Construction Partners from a "hold" rating to a "strong-buy" rating in a report on Friday, August 8th. Weiss Ratings reissued a "hold (c+)" rating on shares of Construction Partners in a report on Wednesday. Finally, Robert W. Baird set a $122.00 target price on shares of Construction Partners and gave the company an "outperform" rating in a report on Friday, August 8th. Three research 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. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $112.33.
View Our Latest Research Report on ROAD
Construction Partners Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding ROAD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Construction Partners, Inc. (NASDAQ:ROAD - Free Report).
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