Munro Partners Buys New Stake in Construction Partners, Inc. $ROAD

Munro Partners purchased a new stake in Construction Partners, Inc. (NASDAQ:ROAD) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 78,815 shares of the company’s stock, valued at approximately $8,555,000. Munro Partners owned 0.14% of Construction Partners as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AlphaQuest LLC boosted its position in Construction Partners by 292.5% in the 3rd quarter. AlphaQuest LLC now owns 208 shares of the company’s stock valued at $26,000 after buying an additional 155 shares during the period. Morse Asset Management Inc boosted its position in Construction Partners by 300.0% in the 3rd quarter. Morse Asset Management Inc now owns 240 shares of the company’s stock valued at $30,000 after buying an additional 180 shares during the period. Danske Bank A S purchased a new position in Construction Partners in the 3rd quarter valued at approximately $38,000. Quarry LP purchased a new position in Construction Partners in the 3rd quarter valued at approximately $42,000. Finally, NewEdge Advisors LLC boosted its position in Construction Partners by 161.1% in the 2nd quarter. NewEdge Advisors LLC now owns 564 shares of the company’s stock valued at $60,000 after buying an additional 348 shares during the period. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Wall Street Analysts Forecast Growth

ROAD has been the subject of several recent research reports. Raymond James Financial reissued a “strong-buy” rating and issued a $140.00 price target on shares of Construction Partners in a research report on Monday, April 27th. Zacks Research cut shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Truist Financial initiated coverage on shares of Construction Partners in a research report on Wednesday, June 3rd. They issued a “hold” rating and a $130.00 price target for the company. Weiss Ratings cut shares of Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Finally, B. Riley Financial raised shares of Construction Partners from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $117.00 to $135.00 in a research report on Thursday, April 2nd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $136.50.

Construction Partners Price Performance

Construction Partners stock opened at $120.28 on Tuesday. The stock has a market cap of $6.80 billion, a P/E ratio of 52.75, a price-to-earnings-growth ratio of 0.95 and a beta of 0.88. The company has a fifty day simple moving average of $117.54 and a 200-day simple moving average of $116.85. Construction Partners, Inc. has a 12-month low of $93.22 and a 12-month high of $151.00. The company has a current ratio of 1.53, a quick ratio of 1.21 and a debt-to-equity ratio of 1.75.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings data on Friday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.23. The business had revenue of $769.20 million during the quarter, compared to analysts’ expectations of $678.46 million. Construction Partners had a net margin of 3.90% and a return on equity of 15.22%. The company’s revenue for the quarter was up 34.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.08 EPS. Equities analysts expect that Construction Partners, Inc. will post 2.95 EPS for the current fiscal year.

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.