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

Wasatch Advisors LP increased its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 37.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 836,440 shares of the company’s stock after acquiring an additional 229,402 shares during the period. Wasatch Advisors LP’s holdings in Construction Partners were worth $92,945,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. AQR Capital Management LLC grew its holdings in Construction Partners by 14.4% in the first 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 during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Construction Partners by 11.2% during the first 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 lifted its holdings in shares of Construction Partners by 11.4% during the first quarter. Intech Investment Management LLC now owns 24,292 shares of the company’s stock valued at $1,746,000 after purchasing an additional 2,482 shares during the last quarter. Strs Ohio bought a new stake in shares of Construction Partners in the 1st quarter worth approximately $165,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Construction Partners in the 2nd quarter worth approximately $552,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Construction Partners Stock Down 2.3%

Shares of Construction Partners stock opened at $122.87 on Friday. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.21 and a current ratio of 1.53. The stock has a market capitalization of $6.95 billion, a PE ratio of 53.89, a price-to-earnings-growth ratio of 1.05 and a beta of 0.88. Construction Partners, Inc. has a 52-week low of $93.22 and a 52-week high of $151.00. The company has a 50-day simple moving average of $119.47 and a two-hundred day simple moving average of $117.85.

Construction Partners (NASDAQ:ROAD) last posted its quarterly 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 net margin of 3.90% and a return on equity of 15.22%. The firm had revenue of $769.20 million for the quarter, compared to analysts’ expectations of $678.46 million. During the same quarter in the prior year, the company posted $0.08 earnings per share. The business’s revenue for the quarter was up 34.6% on a year-over-year basis. On average, analysts anticipate that Construction Partners, Inc. will post 2.95 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.