Summit Creek Advisors LLC Sells 6,332 Shares of Construction Partners, Inc. $ROAD

Summit Creek Advisors LLC reduced its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 3.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 154,426 shares of the company’s stock after selling 6,332 shares during the quarter. Construction Partners comprises 2.6% of Summit Creek Advisors LLC’s portfolio, making the stock its 7th biggest holding. Summit Creek Advisors LLC’s holdings in Construction Partners were worth $16,763,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB grew its position in Construction Partners by 22.5% during the fourth quarter. Handelsbanken Fonder AB now owns 14,700 shares of the company’s stock worth $1,596,000 after buying an additional 2,700 shares during the period. TimesSquare Capital Management LLC grew its position in Construction Partners by 27.6% during the fourth quarter. TimesSquare Capital Management LLC now owns 265,373 shares of the company’s stock worth $28,806,000 after buying an additional 57,327 shares during the period. Csenge Advisory Group acquired a new position in Construction Partners during the fourth quarter worth about $680,000. ProShare Advisors LLC grew its position in Construction Partners by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 8,582 shares of the company’s stock worth $932,000 after buying an additional 553 shares during the period. Finally, Plus Group Wealth Advisors LLC acquired a new position in Construction Partners during the fourth quarter worth about $228,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ROAD. DA Davidson upped their target price on shares of Construction Partners from $120.00 to $130.00 and gave the stock a “neutral” rating in a research report on Friday, February 6th. Robert W. Baird upped their target price on shares of Construction Partners from $129.00 to $169.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Raymond James Financial restated a “strong-buy” rating and set a $140.00 target price on shares of Construction Partners in a research report on Monday, April 27th. B. Riley Financial upgraded shares of Construction Partners from a “neutral” rating to a “buy” rating and upped their target price for the stock from $117.00 to $135.00 in a research report on Thursday, April 2nd. Finally, Weiss Ratings upgraded shares of Construction Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Construction Partners presently has an average rating of “Moderate Buy” and an average price target of $137.80.

Construction Partners Stock Up 2.0%

Shares of NASDAQ ROAD opened at $112.52 on Thursday. Construction Partners, Inc. has a 1 year low of $93.22 and a 1 year high of $151.00. The firm’s 50 day moving average price is $117.74 and its 200 day moving average price is $116.34. The firm has a market cap of $6.36 billion, a P/E ratio of 49.35, a price-to-earnings-growth ratio of 0.92 and a beta of 0.92. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.21 and a current ratio of 1.53.

Construction Partners (NASDAQ:ROAD) last announced its earnings results on Friday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $678.46 million. During the same quarter last year, the business earned $0.08 earnings per share. Construction Partners’s revenue was up 34.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Construction Partners, Inc. will post 2.95 earnings per share for the current 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.