Construction Partners, Inc. $ROAD Shares Purchased by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its holdings in Construction Partners, Inc. by 5.0%, acquiring an additional 173,963 shares, bringing its total ownership to 3,666,331 shares valued at approximately $263 million.
• Research firms have recently upgraded Construction Partners, with Robert W. Baird setting a price target of $122 and giving the company an "outperform" rating.
• Despite reporting a quarterly EPS of $0.81, which was below estimates, Construction Partners' revenue grew by 50.5% year-over-year, totaling $779.28 million.

Vanguard Group Inc. grew its holdings in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 5.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,666,331 shares of the company's stock after acquiring an additional 173,963 shares during the period. Vanguard Group Inc. owned about 6.56% of Construction Partners worth $263,499,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Manchester Capital Management LLC grew its stake in Construction Partners by 9.2% during the 1st quarter. Manchester Capital Management LLC now owns 1,461 shares of the company's stock worth $105,000 after purchasing an additional 123 shares in the last quarter. Amalgamated Bank boosted its stake in shares of Construction Partners by 8.8% in the 1st quarter. Amalgamated Bank now owns 1,593 shares of the company's stock valued at $114,000 after buying an additional 129 shares during the period. ANB Bank grew its position in shares of Construction Partners by 4.2% during the first quarter. ANB Bank now owns 4,105 shares of the company's stock worth $295,000 after buying an additional 164 shares in the last quarter. Stephens Inc. AR increased its stake in shares of Construction Partners by 2.3% during the first quarter. Stephens Inc. AR now owns 8,498 shares of the company's stock worth $611,000 after buying an additional 187 shares during the period. Finally, Nicolet Advisory Services LLC increased its stake in shares of Construction Partners by 10.5% during the first quarter. Nicolet Advisory Services LLC now owns 3,035 shares of the company's stock worth $237,000 after buying an additional 288 shares during the period. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ROAD has been the subject of a number of recent research reports. Baird R W upgraded shares of Construction Partners from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 8th. Robert W. Baird set a $122.00 price target on Construction Partners and gave the company an "outperform" rating in a research note on Friday, August 8th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating on shares of Construction Partners 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 given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $112.33.

Construction Partners Stock Performance

Shares of ROAD traded up $4.62 during midday trading on Friday, reaching $120.60. 899,152 shares of the stock were exchanged, compared to its average volume of 667,746. Construction Partners, Inc. has a twelve month low of $56.52 and a twelve month high of $122.97. 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 company has a market capitalization of $6.76 billion, a price-to-earnings ratio of 88.03, a PEG ratio of 1.54 and a beta of 1.00. The business's 50-day moving average price is $106.27 and its 200 day moving average price is $91.69.

Construction Partners (NASDAQ:ROAD - Get Free Report) last announced 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 firm 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%. The firm's revenue for the quarter was up 50.5% compared to the same quarter last year. During the same period last year, the company earned $0.59 earnings per share. Construction Partners has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Construction Partners, Inc. will post 1.96 EPS for the current fiscal year.

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.