Oak Ridge Investments LLC Cuts Stock Holdings in Construction Partners, Inc. $ROAD

Key Points

• Oak Ridge Investments LLC reduced its stake in Construction Partners, Inc. by 21.1%, selling 14,135 shares and now holding 52,842 shares valued at approximately $3.8 million.
• The company reported $0.81 EPS for the latest quarter, falling short of analysts' expectations of $0.87, with revenues of $779.28 million compared to an estimate of $810.47 million.
• Several analysts have issued positive ratings for Construction Partners, with Robert W. Baird setting a price target of $122.00 and upgrading the stock to "outperform."

Oak Ridge Investments LLC lessened its holdings in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 21.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 52,842 shares of the company's stock after selling 14,135 shares during the quarter. Oak Ridge Investments LLC owned about 0.09% of Construction Partners worth $3,798,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ROAD. Vanguard Group Inc. grew its holdings in shares of Construction Partners by 5.0% during the first quarter. Vanguard Group Inc. now owns 3,666,331 shares of the company's stock valued at $263,499,000 after buying an additional 173,963 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Construction Partners by 2.6% during the fourth quarter. Bank of America Corp DE now owns 1,119,051 shares of the company's stock valued at $98,991,000 after buying an additional 28,723 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Construction Partners by 39.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 856,528 shares of the company's stock valued at $62,724,000 after purchasing an additional 240,496 shares during the period. First Trust Advisors LP lifted its position in Construction Partners by 44.9% during the fourth quarter. First Trust Advisors LP now owns 839,873 shares of the company's stock valued at $74,295,000 after purchasing an additional 260,148 shares during the period. Finally, Artemis Investment Management LLP lifted its position in Construction Partners by 225.9% during the first quarter. Artemis Investment Management LLP now owns 695,949 shares of the company's stock valued at $50,018,000 after purchasing an additional 482,374 shares during the period. Hedge funds and other institutional investors own 94.83% of the company's stock.

Construction Partners Stock Performance

ROAD traded up $2.25 during trading on Tuesday, hitting $110.78. The company's stock had a trading volume of 163,456 shares, compared to its average volume of 560,449. 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 one year low of $56.52 and a one year high of $119.99. The firm has a market cap of $6.21 billion, a PE ratio of 80.76, a P/E/G ratio of 1.38 and a beta of 1.00. The business's 50 day simple moving average is $105.33 and its 200-day simple moving average is $90.79.

Construction Partners (NASDAQ:ROAD - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The firm had revenue of $779.28 million during the quarter, compared to analysts' expectations of $810.47 million. Construction Partners had a return on equity of 12.24% and a net margin of 3.04%.The business's revenue for the quarter was up 50.5% on a year-over-year basis. During the same period last year, the company earned $0.59 earnings per share. 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 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.