Summit Creek Advisors LLC Has $18.49 Million Stock Holdings in Construction Partners, Inc. $ROAD

Summit Creek Advisors LLC trimmed its holdings in Construction Partners, Inc. (NASDAQ:ROAD) by 32.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 173,937 shares of the company’s stock after selling 82,041 shares during the quarter. Construction Partners comprises 2.6% of Summit Creek Advisors LLC’s portfolio, making the stock its 14th biggest holding. Summit Creek Advisors LLC owned about 0.31% of Construction Partners worth $18,486,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Amalgamated Bank raised its stake in shares of Construction Partners by 8.8% in the first quarter. Amalgamated Bank now owns 1,593 shares of the company’s stock worth $114,000 after acquiring an additional 129 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in Construction Partners during the 1st quarter worth $491,000. Principal Financial Group Inc. boosted its position in Construction Partners by 1.7% in the 1st quarter. Principal Financial Group Inc. now owns 29,651 shares of the company’s stock valued at $2,131,000 after buying an additional 490 shares during the last quarter. Bridges Investment Management Inc. raised its position in shares of Construction Partners by 5.2% during the first quarter. Bridges Investment Management Inc. now owns 6,671 shares of the company’s stock worth $479,000 after acquiring an additional 327 shares during the last quarter. Finally, Xponance Inc. lifted its stake in shares of Construction Partners by 13.4% during the first quarter. Xponance Inc. now owns 3,471 shares of the company’s stock valued at $249,000 after acquiring an additional 409 shares during the period. Institutional investors own 94.83% of the company’s stock.

Construction Partners Stock Performance

Shares of NASDAQ:ROAD opened at $114.85 on Thursday. The firm’s 50 day simple moving average is $122.13 and its 200 day simple moving average is $109.37. Construction Partners, Inc. has a fifty-two week low of $64.79 and a fifty-two week high of $138.90. The company has a market capitalization of $6.44 billion, a price-to-earnings ratio of 83.83, a P/E/G ratio of 0.99 and a beta of 1.02. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.47 and a quick ratio of 1.20.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). The firm had revenue of $779.28 million for the quarter, compared to analyst estimates of $810.47 million. Construction Partners had a net margin of 3.04% and a return on equity of 12.24%. The firm’s revenue for the quarter was up 50.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.59 EPS. As a group, sell-side analysts forecast that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ROAD shares. Zacks Research lowered Construction Partners from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. DA Davidson raised their target price on shares of Construction Partners from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday, October 23rd. Baird R W raised shares of Construction Partners from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 8th. Raymond James Financial restated a “strong-buy” rating and issued a $135.00 price objective (up from $120.00) on shares of Construction Partners in a report on Tuesday, October 21st. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Construction Partners in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $125.67.

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.