Construction Partners, Inc. $ROAD Holdings Lifted by Rhumbline Advisers

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 increased its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 6.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,385 shares of the company's stock after purchasing an additional 3,781 shares during the period. Rhumbline Advisers owned 0.11% of Construction Partners worth $4,555,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Strs Ohio acquired a new position in shares of Construction Partners during the 1st quarter worth approximately $165,000. Intech Investment Management LLC grew its stake in Construction Partners by 11.4% in the 1st quarter. Intech Investment Management LLC now owns 24,292 shares of the company's stock worth $1,746,000 after acquiring an additional 2,482 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Construction Partners by 11.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 96,191 shares of the company's stock worth $6,913,000 after acquiring an additional 9,656 shares during the period. Zimmer Partners LP purchased a new stake in Construction Partners in the 1st quarter worth approximately $10,062,000. Finally, Petrus Trust Company LTA grew its stake in Construction Partners by 59.4% in the 1st quarter. Petrus Trust Company LTA now owns 6,137 shares of the company's stock worth $441,000 after acquiring an additional 2,288 shares during the period. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Construction Partners Stock Performance

Shares of NASDAQ:ROAD traded up $4.79 during trading on Thursday, reaching $130.82. 374,660 shares of the company's stock traded hands, compared to its average volume of 396,545. Construction Partners, Inc. has a 12 month low of $64.79 and a 12 month high of $132.36. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.47 and a quick ratio of 1.20. The stock has a market capitalization of $7.34 billion, a P/E ratio of 95.49, a price-to-earnings-growth ratio of 1.61 and a beta of 0.99. The company has a 50 day moving average of $112.90 and a 200-day moving average of $97.60.

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 the consensus estimate of $0.87 by ($0.06). Construction Partners had a return on equity of 12.24% and a net margin of 3.04%.The firm had revenue of $779.28 million during the quarter, compared to the consensus estimate of $810.47 million. During the same quarter last year, the company posted $0.59 EPS. Construction Partners's revenue for the quarter was up 50.5% on a year-over-year basis. Construction Partners has set its FY 2025 guidance at EPS. On average, equities analysts expect that Construction Partners, Inc. will post 1.96 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on ROAD. Robert W. Baird set a $122.00 target price on shares of Construction Partners and gave the stock an "outperform" rating in a research note on Friday, August 8th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Construction Partners in a research report on Friday, August 8th. Finally, 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. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Construction Partners currently has a consensus rating of "Buy" and a consensus target price of $112.33.

Construction Partners Company 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.