QRG Capital Management Inc. Takes $266,000 Position in Construction Partners, Inc. $ROAD

Key Points

• QRG Capital Management Inc. has acquired a new position in Construction Partners, Inc. (NASDAQ:ROAD) worth approximately $266,000 by purchasing 2,501 shares during the second quarter.
• Construction Partners reported $0.81 earnings per share for the last quarter, falling short of the consensus estimate of $0.87, and had revenue of $779.28 million, which was below expectations of $810.47 million.
• Several analysts have recently updated their ratings on Construction Partners, with Raymond James providing a "strong-buy" rating and establishing an average target price of $112.33 for the stock.

QRG Capital Management Inc. acquired a new position in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,501 shares of the company's stock, valued at approximately $266,000.

Several other institutional investors have also recently added to or reduced their stakes in ROAD. Montag A & Associates Inc. acquired a new stake in shares of Construction Partners during the 1st quarter worth approximately $29,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Construction Partners during the first quarter valued at approximately $60,000. SVB Wealth LLC bought a new stake in shares of Construction Partners during the first quarter valued at approximately $80,000. Golden State Wealth Management LLC increased its holdings in shares of Construction Partners by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 1,126 shares of the company's stock valued at $81,000 after acquiring an additional 563 shares in the last quarter. Finally, Covestor Ltd increased its holdings in shares of Construction Partners by 124.4% during the first quarter. Covestor Ltd now owns 1,409 shares of the company's stock valued at $101,000 after acquiring an additional 781 shares in the last quarter. 94.83% of the stock is owned by institutional investors and hedge funds.

Construction Partners Stock Performance

NASDAQ:ROAD opened at $122.98 on Friday. The business's 50-day moving average price is $120.12 and its two-hundred day moving average price is $103.87. Construction Partners, Inc. has a twelve month low of $64.79 and a twelve month high of $138.90. The stock has a market cap of $6.90 billion, a P/E ratio of 89.77, a PEG ratio of 1.06 and a beta of 0.98. 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 (NASDAQ:ROAD - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). The business had revenue of $779.28 million during the quarter, compared to analysts' expectations of $810.47 million. Construction Partners had a net margin of 3.04% and a return on equity of 12.24%. The business's revenue was up 50.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.59 EPS. Construction Partners has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Construction Partners, Inc. will post 1.96 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Raymond James Financial restated a "strong-buy" rating on shares of Construction Partners in a report on Friday, August 8th. Robert W. Baird set a $122.00 price objective on Construction Partners and gave the company an "outperform" rating in a research note on Friday, August 8th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Construction Partners in a research report on Wednesday. Baird R W raised Construction Partners from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 8th. Finally, Zacks Research raised Construction Partners from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 6th. Three research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average 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.

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