Conestoga Capital Advisors LLC Has $183.80 Million Stock Position in Construction Partners, Inc. $ROAD

Conestoga Capital Advisors LLC decreased its position in Construction Partners, Inc. (NASDAQ:ROAD) by 18.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,654,102 shares of the company’s stock after selling 370,900 shares during the period. Construction Partners makes up approximately 3.7% of Conestoga Capital Advisors LLC’s holdings, making the stock its 5th biggest position. Conestoga Capital Advisors LLC’s holdings in Construction Partners were worth $183,804,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of ROAD. Geneva Capital Management LLC grew its holdings in Construction Partners by 0.3% during the 4th quarter. Geneva Capital Management LLC now owns 1,821,134 shares of the company’s stock worth $197,684,000 after acquiring an additional 6,163 shares during the period. Invesco Ltd. lifted its stake in shares of Construction Partners by 23.7% in the 4th quarter. Invesco Ltd. now owns 1,481,914 shares of the company’s stock valued at $160,862,000 after purchasing an additional 284,082 shares during the period. Geode Capital Management LLC lifted its stake in shares of Construction Partners by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 1,163,923 shares of the company’s stock valued at $126,364,000 after purchasing an additional 4,118 shares during the period. State Street Corp boosted its position in shares of Construction Partners by 4.7% during the 2nd quarter. State Street Corp now owns 1,112,231 shares of the company’s stock valued at $118,208,000 after purchasing an additional 49,898 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Construction Partners by 33.2% during the 3rd quarter. First Trust Advisors LP now owns 1,059,566 shares of the company’s stock valued at $134,565,000 after purchasing an additional 264,069 shares in the last quarter. Institutional investors own 94.83% of the company’s stock.

Construction Partners Stock Performance

Shares of ROAD opened at $109.10 on Thursday. Construction Partners, Inc. has a one year low of $93.22 and a one year high of $151.00. The company has a market cap of $6.17 billion, a PE ratio of 47.85, a P/E/G ratio of 0.99 and a beta of 0.88. The stock has a 50-day moving average of $119.12 and a 200-day moving average of $118.14. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.53 and a quick ratio of 1.21.

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

Analysts Set New Price Targets

Several equities research analysts recently commented on ROAD shares. Truist Financial started coverage on Construction Partners in a research note on Wednesday, June 3rd. They set a “hold” rating and a $130.00 target price for the company. Raymond James Financial restated a “strong-buy” rating and set a $140.00 price target on shares of Construction Partners in a report on Monday, April 27th. B. Riley Financial raised shares of Construction Partners from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $117.00 to $135.00 in a research report on Thursday, April 2nd. Weiss Ratings lowered shares of Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Finally, Robert W. Baird dropped their target price on shares of Construction Partners from $169.00 to $145.00 and set an “outperform” rating on the stock in a research report on Wednesday. One 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 MarketBeat.com, Construction Partners has an average rating of “Moderate Buy” and a consensus price target of $132.50.

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.