Sheets Smith Wealth Management Buys Shares of 6,300 Construction Partners, Inc. $ROAD

Sheets Smith Wealth Management bought a new stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) during the 2nd quarter, Holdings Channel reports. The firm bought 6,300 shares of the company’s stock, valued at approximately $670,000.

Several other hedge funds and other institutional investors have also bought and sold shares of ROAD. Artemis Investment Management LLP lifted its stake in Construction Partners by 225.9% during the 1st quarter. Artemis Investment Management LLP now owns 695,949 shares of the company’s stock valued at $50,018,000 after acquiring an additional 482,374 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Construction Partners by 39.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 856,528 shares of the company’s stock valued at $62,724,000 after purchasing an additional 240,496 shares during the period. Vanguard Group Inc. grew its stake in shares of Construction Partners by 5.0% during the 1st quarter. Vanguard Group Inc. now owns 3,666,331 shares of the company’s stock valued at $263,499,000 after purchasing an additional 173,963 shares during the period. Zimmer Partners LP bought a new stake in shares of Construction Partners during the 1st quarter valued at about $10,062,000. Finally, Nuveen LLC bought a new stake in shares of Construction Partners during the 1st quarter valued at about $8,588,000. Institutional investors own 94.83% of the company’s stock.

Wall Street Analyst Weigh In

ROAD has been the subject of a number of recent research reports. Baird R W upgraded Construction Partners from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 8th. Robert W. Baird set a $122.00 price target on Construction Partners and gave the company an “outperform” rating in a research note on Friday, August 8th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating on shares of Construction Partners in a research note on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Construction Partners currently has a consensus rating of “Buy” and a consensus target price of $112.33.

Construction Partners Stock Down 2.9%

NASDAQ ROAD opened at $129.00 on Thursday. The stock’s 50-day moving average price is $115.02 and its 200-day moving average price is $99.37. The company has a quick ratio of 1.20, a current ratio of 1.47 and a debt-to-equity ratio of 1.63. Construction Partners, Inc. has a 52 week low of $64.79 and a 52 week high of $138.90. The company has a market capitalization of $7.24 billion, a P/E ratio of 94.16, a price-to-earnings-growth ratio of 1.70 and a beta of 0.99.

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

About Construction Partners

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.