Wasatch Advisors LP Increases Stake in Construction Partners, Inc. $ROAD

Wasatch Advisors LP raised its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 37.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 836,440 shares of the company’s stock after purchasing an additional 229,402 shares during the quarter. Wasatch Advisors LP owned 1.48% of Construction Partners worth $92,945,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Tyro Capital Management LLC raised its holdings in Construction Partners by 6.8% during the 3rd quarter. Tyro Capital Management LLC now owns 164,488 shares of the company’s stock valued at $20,890,000 after buying an additional 10,465 shares during the last quarter. American Century Companies Inc. grew its holdings in Construction Partners by 5.6% in the 3rd quarter. American Century Companies Inc. now owns 1,039,928 shares of the company’s stock worth $132,071,000 after acquiring an additional 55,049 shares during the last quarter. Telligent Fund LP bought a new stake in Construction Partners in the 3rd quarter worth $1,016,000. First Trust Advisors LP grew its holdings in Construction Partners by 33.2% in the 3rd quarter. First Trust Advisors LP now owns 1,059,566 shares of the company’s stock worth $134,565,000 after acquiring an additional 264,069 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in shares of Construction Partners in the fourth quarter valued at about $42,518,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Construction Partners Stock Down 2.3%

ROAD stock opened at $122.87 on Friday. Construction Partners, Inc. has a fifty-two week low of $93.22 and a fifty-two week high of $151.00. The company has a market capitalization of $6.95 billion, a price-to-earnings ratio of 53.89, a price-to-earnings-growth ratio of 1.05 and a beta of 0.88. The business’s 50 day moving average price is $119.47 and its two-hundred day moving average price is $117.85. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.21 and a current ratio of 1.53.

Construction Partners (NASDAQ:ROAD) last released its earnings results on Friday, May 8th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.23. Construction Partners had a return on equity of 15.22% and a net margin of 3.90%.The company had revenue of $769.20 million during the quarter, compared to analysts’ expectations of $678.46 million. During the same quarter last year, the business posted $0.08 EPS. The firm’s revenue for the quarter was up 34.6% compared to the same quarter last year. As a group, analysts forecast that Construction Partners, Inc. will post 2.95 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. B. Riley Financial raised shares of Construction Partners from a “neutral” rating to a “buy” rating and upped their price objective for the company from $117.00 to $135.00 in a research note on Thursday, April 2nd. Zacks Research cut Construction Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Raymond James Financial restated a “strong-buy” rating and set a $140.00 price target on shares of Construction Partners in a report on Monday, April 27th. Truist Financial assumed coverage on Construction Partners in a research report on Wednesday, June 3rd. They set a “hold” rating and a $130.00 price target for the company. Finally, Robert W. Baird increased their price objective on Construction Partners from $129.00 to $169.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $136.50.

Construction Partners 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.