Summit Creek Advisors LLC Purchases Shares of 70,130 Construction Partners, Inc. $ROAD

Summit Creek Advisors LLC acquired a new stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) during the 2nd quarter, Holdings Channel reports. The firm acquired 70,130 shares of the company’s stock, valued at approximately $8,329,000. Construction Partners accounts for 2.8% of Summit Creek Advisors LLC’s holdings, making the stock its 6th biggest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. NFSG Corp boosted its position in shares of Construction Partners by 8.7% during the 1st quarter. NFSG Corp now owns 1,251 shares of the company’s stock worth $139,000 after purchasing an additional 100 shares in the last quarter. ANB Bank raised its stake in Construction Partners by 3.4% during the 1st quarter. ANB Bank now owns 4,258 shares of the company’s stock worth $473,000 after buying an additional 140 shares during the period. The Manufacturers Life Insurance Company raised its stake in Construction Partners by 0.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 23,151 shares of the company’s stock worth $2,573,000 after buying an additional 149 shares during the period. &PARTNERS raised its stake in Construction Partners by 2.5% during the 4th quarter. &PARTNERS now owns 6,899 shares of the company’s stock worth $749,000 after buying an additional 167 shares during the period. Finally, Morse Asset Management Inc boosted its holdings in Construction Partners by 300.0% in the third quarter. Morse Asset Management Inc now owns 240 shares of the company’s stock worth $30,000 after acquiring an additional 180 shares in the last quarter. Institutional investors own 94.83% of the company’s stock.

Construction Partners Trading Down 5.7%

NASDAQ ROAD opened at $113.54 on Wednesday. The firm has a market capitalization of $6.44 billion, a P/E ratio of 44.53, a PEG ratio of 1.13 and a beta of 0.90. The business has a fifty day simple moving average of $110.76 and a 200 day simple moving average of $116.91. Construction Partners, Inc. has a 12 month low of $93.42 and a 12 month high of $151.00. The company has a current ratio of 1.57, a quick ratio of 1.26 and a debt-to-equity ratio of 1.68.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings data on Friday, August 7th. The company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.07. The business had revenue of $999.42 million for the quarter, compared to analysts’ expectations of $948.77 million. Construction Partners had a return on equity of 16.06% and a net margin of 4.10%.The business’s revenue was up 28.2% on a year-over-year basis. During the same period last year, the business earned $0.81 EPS. On average, analysts predict that Construction Partners, Inc. will post 3.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Weiss Ratings raised Construction Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Truist Financial began coverage on Construction Partners in a research report on Wednesday, June 3rd. They set a “hold” rating and a $130.00 target price on the stock. Zacks Research cut Construction Partners from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 16th. Robert W. Baird reduced their price target on shares of Construction Partners from $145.00 to $141.00 and set an “outperform” rating for the company in a research report on Monday, August 10th. Finally, Raymond James Financial decreased their price target on shares of Construction Partners from $161.00 to $150.00 and set a “strong-buy” rating for the company in a research note on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $133.50.

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.