Summit Creek Advisors LLC Has $20.42 Million Stock Position in Construction Partners, Inc. $ROAD

Summit Creek Advisors LLC trimmed its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 7.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 160,758 shares of the company’s stock after selling 13,179 shares during the period. Construction Partners makes up 3.0% of Summit Creek Advisors LLC’s investment portfolio, making the stock its 2nd largest holding. Summit Creek Advisors LLC owned 0.29% of Construction Partners worth $20,416,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC lifted its holdings in Construction Partners by 14.4% in the 1st quarter. AQR Capital Management LLC now owns 10,333 shares of the company’s stock worth $743,000 after purchasing an additional 1,302 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Construction Partners by 11.2% during 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 valued at $6,913,000 after purchasing an additional 9,656 shares during the last quarter. Intech Investment Management LLC raised its stake in shares of Construction Partners by 11.4% in the first quarter. Intech Investment Management LLC now owns 24,292 shares of the company’s stock valued at $1,746,000 after acquiring an additional 2,482 shares during the period. Strs Ohio purchased a new stake in Construction Partners in the 1st quarter worth about $165,000. Finally, Rhumbline Advisers raised its holdings in shares of Construction Partners by 6.3% in the first quarter. Rhumbline Advisers now owns 63,385 shares of the company’s stock worth $4,555,000 after buying an additional 3,781 shares during the period. 94.83% of the stock is currently owned by institutional investors.

Construction Partners Trading Up 2.4%

ROAD stock opened at $115.03 on Monday. The firm has a market cap of $6.50 billion, a P/E ratio of 62.86, a PEG ratio of 1.10 and a beta of 0.87. The company’s 50-day simple moving average is $109.08 and its 200-day simple moving average is $113.07. The company has a quick ratio of 1.34, a current ratio of 1.61 and a debt-to-equity ratio of 1.73. Construction Partners, Inc. has a 52-week low of $64.79 and a 52-week high of $138.90.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings data on Thursday, November 20th. The company reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.04). The business had revenue of $899.85 million during the quarter, compared to analysts’ expectations of $896.17 million. Construction Partners had a net margin of 3.62% and a return on equity of 14.42%. The firm’s quarterly revenue was up 67.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.56 earnings per share. As a group, equities analysts forecast that Construction Partners, Inc. will post 1.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Bank of America decreased their price target on shares of Construction Partners from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, November 21st. Robert W. Baird decreased their price target on shares of Construction Partners from $131.00 to $124.00 and set an “outperform” rating for the company in a research report on Friday, November 21st. Weiss Ratings reissued a “hold (c+)” rating on shares of Construction Partners in a research report on Monday, December 29th. Raymond James Financial reiterated a “strong-buy” rating and issued a $135.00 target price (up from $120.00) on shares of Construction Partners in a research note on Tuesday, October 21st. Finally, Zacks Research cut Construction Partners from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $123.50.

Construction Partners Company Profile

Construction Partners, Inc (NASDAQ: ROAD) is a specialty contractor and infrastructure solutions provider focused on road building, paving, site development and aggregate production. The company delivers a comprehensive suite of civil construction services, including roadway paving and milling, site grading and preparation, stormwater and utility installation, and full-scale asphalt plant operations. By integrating materials production with contracting capabilities, the firm aims to streamline project delivery and maintain quality control across its contracting and materials businesses.

At the heart of Construction Partners’ operations are its network of asphalt plants, quarries and aggregate production facilities.