Truvestments Capital LLC Takes $660,000 Position in Construction Partners, Inc. $ROAD

Key Points

• Truvestments Capital LLC has acquired a new position in Construction Partners, Inc. (NASDAQ: ROAD), purchasing 9,187 shares valued at approximately $660,000.
• Construction Partners' quarterly earnings results showed an EPS of $0.81, which was below analysts' expectations of $0.87, although revenue increased by 50.5% compared to the previous year.
• Analysts' ratings for Construction Partners have improved, with Baird R W raising the stock from a "hold" to a "strong-buy" rating and setting an average target price of $112.33.

Truvestments Capital LLC bought a new position in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 9,187 shares of the company's stock, valued at approximately $660,000.

Other institutional investors have also made changes to their positions in the company. Montag A & Associates Inc. purchased a new position in shares of Construction Partners in the first quarter worth approximately $29,000. Versant Capital Management Inc acquired a new stake in shares of Construction Partners during the first quarter worth approximately $30,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Construction Partners during the first quarter worth approximately $60,000. SVB Wealth LLC acquired a new stake in shares of Construction Partners during the first quarter worth approximately $80,000. Finally, Golden State Wealth Management LLC boosted 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 worth $81,000 after purchasing an additional 563 shares during the period. 94.83% of the stock is owned by hedge funds and other institutional investors.

Construction Partners Stock Down 2.0%

NASDAQ ROAD traded down $2.45 during trading on Tuesday, reaching $117.45. The company's stock had a trading volume of 124,369 shares, compared to its average volume of 557,987. 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 stock has a market capitalization of $6.59 billion, a PE ratio of 85.73, a PEG ratio of 1.54 and a beta of 0.99. The business has a 50-day moving average price of $108.27 and a 200-day moving average price of $93.42. Construction Partners, Inc. has a 1-year low of $56.52 and a 1-year high of $124.12.

Construction Partners (NASDAQ:ROAD - Get Free Report) last posted 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). The business had revenue of $779.28 million during the quarter, compared to analyst estimates of $810.47 million. Construction Partners had a net margin of 3.04% and a return on equity of 12.24%. Construction Partners's revenue was up 50.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.59 earnings per share. Construction Partners has set its FY 2025 guidance at EPS. On average, research analysts forecast that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. 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. Baird R W upgraded shares of Construction Partners from a "hold" rating to a "strong-buy" rating in a report on Friday, August 8th. Finally, Raymond James Financial restated a "strong-buy" rating on shares of Construction Partners in a report on Friday, August 8th. Two investment 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. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average 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.