Hardy Reed LLC Sells 430 Shares of Construction Partners, Inc. $ROAD

Hardy Reed LLC reduced its position in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 14.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,545 shares of the company’s stock after selling 430 shares during the period. Hardy Reed LLC’s holdings in Construction Partners were worth $270,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in Construction Partners by 6,734.0% during the 1st quarter. GAMMA Investing LLC now owns 62,599 shares of the company’s stock worth $4,499,000 after buying an additional 61,683 shares during the period. Rhumbline Advisers lifted its holdings in shares of Construction Partners by 6.3% during the first quarter. Rhumbline Advisers now owns 63,385 shares of the company’s stock worth $4,555,000 after purchasing an additional 3,781 shares during the period. SG Americas Securities LLC grew its stake in shares of Construction Partners by 563.6% in the first quarter. SG Americas Securities LLC now owns 8,540 shares of the company’s stock worth $614,000 after purchasing an additional 7,253 shares during the last quarter. Institute for Wealth Management LLC. bought a new stake in shares of Construction Partners in the first quarter worth $320,000. Finally, Asset Management One Co. Ltd. increased its holdings in Construction Partners by 15.5% in the first quarter. Asset Management One Co. Ltd. now owns 76,119 shares of the company’s stock valued at $5,471,000 after purchasing an additional 10,226 shares during the period. Institutional investors and hedge funds own 94.83% of the company’s stock.

Construction Partners Price Performance

Construction Partners stock opened at $124.13 on Tuesday. The stock has a market capitalization of $6.96 billion, a price-to-earnings ratio of 90.61, a PEG ratio of 1.08 and a beta of 0.98. Construction Partners, Inc. has a 52-week low of $64.79 and a 52-week high of $138.90. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.20 and a current ratio of 1.47. The stock’s 50 day moving average price is $118.33 and its two-hundred day moving average price is $102.81.

Construction Partners (NASDAQ:ROAD) last issued its 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 net margin of 3.04% and a return on equity of 12.24%. The firm had revenue of $779.28 million during the quarter, compared to analyst estimates of $810.47 million. During the same quarter in the prior year, the business earned $0.59 earnings per share. The business’s quarterly revenue was up 50.5% on a year-over-year basis. Construction Partners has set its FY 2025 guidance at EPS. On average, equities analysts predict that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ROAD shares. Baird R W upgraded Construction Partners from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 8th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Construction Partners in a research note on Friday, August 8th. Robert W. Baird set a $122.00 target price on shares of Construction Partners and gave the company an “outperform” rating in a research report on Friday, August 8th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Construction Partners in a report on Saturday, September 27th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $112.33.

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.