Brant Point Investment Management LLC Raises Stock Holdings in Construction Partners, Inc. $ROAD

Brant Point Investment Management LLC increased its position in Construction Partners, Inc. (NASDAQ:ROAD) by 270.4% in the first quarter, HoldingsChannel.com reports. The fund owned 74,083 shares of the company’s stock after buying an additional 54,083 shares during the period. Construction Partners comprises approximately 0.6% of Brant Point Investment Management LLC’s investment portfolio, making the stock its 22nd biggest holding. Brant Point Investment Management LLC’s holdings in Construction Partners were worth $5,324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Montag A & Associates Inc. purchased a new position in Construction Partners in the 1st quarter worth $29,000. Versant Capital Management Inc purchased a new position in Construction Partners in the 1st quarter worth $30,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Construction Partners in the 1st quarter worth $60,000. SVB Wealth LLC purchased a new position in Construction Partners in the 1st quarter worth $80,000. Finally, Golden State Wealth Management LLC raised its stake in Construction Partners by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,126 shares of the company’s stock worth $81,000 after acquiring an additional 563 shares during the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Construction Partners Price Performance

NASDAQ:ROAD opened at $121.28 on Thursday. Construction Partners, Inc. has a 52 week low of $56.52 and a 52 week high of $122.97. The company has a quick ratio of 1.20, a current ratio of 1.47 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $6.80 billion, a PE ratio of 88.53, a price-to-earnings-growth ratio of 1.57 and a beta of 1.00. The stock’s 50-day moving average price is $107.30 and its 200-day moving average price is $92.39.

Construction Partners (NASDAQ:ROAD) last posted its earnings results on Thursday, August 7th. The company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). Construction Partners had a net margin of 3.04% and a return on equity of 12.24%. The business had revenue of $779.28 million for the quarter, compared to analyst estimates of $810.47 million. During the same quarter last year, the business earned $0.59 earnings per share. Construction Partners’s revenue was up 50.5% on a year-over-year basis. Construction Partners has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Construction Partners, Inc. will post 1.96 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ROAD. Raymond James Financial restated a “strong-buy” rating on shares of Construction Partners in a research note on Friday, August 8th. Robert W. Baird set a $122.00 price objective on Construction Partners and gave the company an “outperform” rating in a research note on Friday, August 8th. Finally, Baird R W upgraded Construction Partners from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Construction Partners has a consensus rating of “Buy” and an average target price of $112.33.

Construction Partners 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.