Moody Aldrich Partners LLC Decreases Holdings in Construction Partners, Inc. $ROAD

Moody Aldrich Partners LLC lowered its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 24.2% in the second quarter, Holdings Channel reports. The firm owned 32,262 shares of the company’s stock after selling 10,298 shares during the period. Moody Aldrich Partners LLC’s holdings in Construction Partners were worth $3,429,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of ROAD. Vanguard Group Inc. boosted its holdings in Construction Partners by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 3,666,331 shares of the company’s stock worth $263,499,000 after buying an additional 173,963 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake 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 worth $186,293,000 after acquiring an additional 12,808 shares during the last quarter. Driehaus Capital Management LLC increased its position in shares of Construction Partners by 10.3% during the first quarter. Driehaus Capital Management LLC now owns 828,846 shares of the company’s stock worth $59,569,000 after purchasing an additional 77,641 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Construction Partners by 10.9% in the 1st 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 during the last quarter. Finally, Northern Trust Corp lifted its holdings in Construction Partners by 5.2% in the 1st 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. Institutional investors and hedge funds own 94.83% of the company’s stock.

Construction Partners Stock Performance

NASDAQ:ROAD opened at $112.68 on Friday. The company’s 50-day moving average is $122.74 and its two-hundred day moving average is $108.18. Construction Partners, Inc. has a 1-year low of $64.79 and a 1-year high of $138.90. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.47 and a quick ratio of 1.20. The firm has a market capitalization of $6.32 billion, a price-to-earnings ratio of 82.25, a PEG ratio of 1.03 and a beta of 0.98.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings results 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 return on equity of 12.24% and a net margin of 3.04%.The firm’s quarterly revenue was up 50.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.59 EPS. Construction Partners has set its FY 2025 guidance at EPS. Analysts forecast that Construction Partners, Inc. will post 1.96 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Zacks Research raised shares of Construction Partners from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Weiss Ratings restated a “hold (c+)” rating on shares of Construction Partners in a research report on Wednesday, October 8th. 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. DA Davidson raised their target price on shares of Construction Partners from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, October 23rd. Finally, Raymond James Financial restated a “strong-buy” rating and set a $135.00 target price (up from $120.00) on shares of Construction Partners in a report on Tuesday, October 21st. Three research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price 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.