Rhumbline Advisers Boosts Stock Holdings in Construction Partners, Inc. $ROAD

Key Points

• Rhumbline Advisers increased its stake in Construction Partners, Inc. by 6.3% in the first quarter, now holding approximately 63,385 shares, valued at $4,555,000.
• Construction Partners reported earnings per share (EPS) of $0.81 for the quarter, falling short of the analyst expectations of $0.87, while revenue increased by 50.5% year-over-year despite missing projections.
• Analysts have set an average price target of $112.33 for Construction Partners, with a consensus rating of "Buy" and an upgrade to "strong-buy" from some brokerages.

Rhumbline Advisers grew its position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 6.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,385 shares of the company's stock after purchasing an additional 3,781 shares during the quarter. Rhumbline Advisers owned approximately 0.11% of Construction Partners worth $4,555,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Montag A & Associates Inc. purchased a new stake in Construction Partners in the 1st quarter worth $29,000. Versant Capital Management Inc purchased a new stake in Construction Partners in the 1st quarter worth $30,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Construction Partners in the 1st quarter worth $60,000. SVB Wealth LLC purchased a new stake in Construction Partners in the 1st quarter worth $80,000. Finally, 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 worth $81,000 after acquiring an additional 563 shares in the last quarter. Hedge funds and other institutional investors own 94.83% of the company's stock.

Construction Partners Price Performance

Construction Partners stock opened at $125.20 on Friday. Construction Partners, Inc. has a 52-week low of $63.71 and a 52-week high of $125.70. The firm has a market capitalization of $7.02 billion, a price-to-earnings ratio of 91.39, a PEG ratio of 1.64 and a beta of 0.99. The company has a fifty day simple moving average of $111.13 and a 200-day simple moving average of $96.23. 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 earnings results 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). 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 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. Construction Partners's quarterly revenue was up 50.5% compared to the same quarter last year. Construction Partners has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Construction Partners, Inc. will post 1.96 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on ROAD. Raymond James Financial reissued a "strong-buy" rating on shares of Construction Partners 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 report on Friday, August 8th. Finally, Robert W. Baird set a $122.00 price target on shares of Construction Partners and gave the stock an "outperform" rating in a report on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.