Hardy Reed LLC Has $270,000 Stake in Construction Partners, Inc. $ROAD

Hardy Reed LLC cut its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 14.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,545 shares of the company’s stock after selling 430 shares during the quarter. Hardy Reed LLC’s holdings in Construction Partners were worth $270,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ROAD. QRG Capital Management Inc. bought a new stake in Construction Partners during the second quarter worth $266,000. Hilltop National Bank bought a new stake in shares of Construction Partners in the 2nd quarter worth $311,000. Janney Montgomery Scott LLC bought a new stake in shares of Construction Partners in the 2nd quarter worth $802,000. Sheets Smith Wealth Management purchased a new stake in shares of Construction Partners in the second quarter valued at about $670,000. Finally, GAMMA Investing LLC lifted its position in shares of Construction Partners by 33.6% during the second quarter. GAMMA Investing LLC now owns 1,164 shares of the company’s stock valued at $124,000 after purchasing an additional 293 shares in the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Wall Street Analyst Weigh In

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

Construction Partners Trading Down 1.2%

Shares of ROAD stock opened at $124.13 on Tuesday. The company has a quick ratio of 1.20, a current ratio of 1.47 and a debt-to-equity ratio of 1.63. The firm has a market cap of $6.96 billion, a P/E ratio of 90.61, a PEG ratio of 1.08 and a beta of 0.98. The company has a 50 day moving average of $118.33 and a 200-day moving average of $102.81. Construction Partners, Inc. has a 12-month low of $64.79 and a 12-month high of $138.90.

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

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.