Atria Investments Inc Grows Holdings in Construction Partners, Inc. $ROAD

Atria Investments Inc grew its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 5.5% during the second quarter, Holdings Channel.com reports. The fund owned 16,129 shares of the company’s stock after acquiring an additional 835 shares during the period. Atria Investments Inc’s holdings in Construction Partners were worth $1,714,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Construction Partners by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 3,666,331 shares of the company’s stock valued at $263,499,000 after acquiring an additional 173,963 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Construction Partners by 0.5% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,592,079 shares of the company’s stock valued at $186,293,000 after purchasing an additional 12,808 shares in the last quarter. Driehaus Capital Management LLC grew its holdings in shares of Construction Partners by 10.3% in the first quarter. Driehaus Capital Management LLC now owns 828,846 shares of the company’s stock valued at $59,569,000 after purchasing an additional 77,641 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Construction Partners by 10.9% in the first quarter. Ameriprise Financial Inc. now owns 792,993 shares of the company’s stock valued at $56,992,000 after purchasing an additional 78,042 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Construction Partners by 5.2% in the first quarter. Northern Trust Corp now owns 450,751 shares of the company’s stock valued at $32,395,000 after purchasing an additional 22,460 shares in the last quarter. 94.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ROAD. Baird R W upgraded shares of Construction Partners from a “hold” rating to a “strong-buy” rating in a report on Friday, August 8th. DA Davidson lifted their price objective on shares of Construction Partners from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Thursday, October 23rd. Raymond James Financial reiterated a “strong-buy” rating and issued a $135.00 price objective (up previously from $120.00) on shares of Construction Partners in a research note on Tuesday, October 21st. Robert W. Baird set a $122.00 target price on shares of Construction Partners and gave the stock an “outperform” rating in a research note on Friday, August 8th. Finally, Zacks Research raised shares of Construction Partners from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Three research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $125.67.

Construction Partners Trading Down 1.6%

NASDAQ ROAD opened at $112.02 on Wednesday. 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 stock has a market capitalization of $6.28 billion, a PE ratio of 81.77, a price-to-earnings-growth ratio of 1.01 and a beta of 1.02. The firm has a 50 day moving average of $122.26 and a two-hundred day moving average of $109.33.

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