Conestoga Capital Advisors LLC Sells 820,833 Shares of Construction Partners, Inc. $ROAD

Conestoga Capital Advisors LLC decreased its position in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 23.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,633,558 shares of the company’s stock after selling 820,833 shares during the period. Construction Partners accounts for approximately 4.1% of Conestoga Capital Advisors LLC’s portfolio, making the stock its 2nd biggest holding. Conestoga Capital Advisors LLC’s holdings in Construction Partners were worth $279,895,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC acquired a new position in Construction Partners during the second quarter worth approximately $344,000. GAMMA Investing LLC increased its position in Construction Partners by 33.6% during the second quarter. GAMMA Investing LLC now owns 1,164 shares of the company’s stock worth $124,000 after buying an additional 293 shares during the period. Janney Montgomery Scott LLC acquired a new position in Construction Partners during the second quarter worth approximately $802,000. KLP Kapitalforvaltning AS increased its position in Construction Partners by 7.7% during the second quarter. KLP Kapitalforvaltning AS now owns 9,800 shares of the company’s stock worth $1,042,000 after buying an additional 700 shares during the period. Finally, Teacher Retirement System of Texas acquired a new position in shares of Construction Partners in the first quarter valued at approximately $491,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. 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. Raymond James Financial reiterated a “strong-buy” rating on shares of Construction Partners in a research report on Friday, August 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Construction Partners in a research report on Wednesday, October 8th. Robert W. Baird set a $122.00 target price on Construction Partners and gave the stock an “outperform” rating in a research report on Friday, August 8th. Finally, Zacks Research raised Construction Partners from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Three analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $112.33.

Construction Partners Stock Performance

Construction Partners stock opened at $115.01 on Monday. The firm has a market capitalization of $6.45 billion, a P/E ratio of 83.95, a PEG ratio of 0.99 and a beta of 0.98. The stock has a fifty day moving average price of $121.97 and a 200 day moving average price of $105.70. Construction Partners, Inc. has a 52 week low of $64.79 and a 52 week high of $138.90. The company has a current ratio of 1.47, a quick ratio of 1.20 and a debt-to-equity ratio of 1.63.

Construction Partners (NASDAQ:ROAD) last released 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). The business had revenue of $779.28 million during the quarter, compared to analyst estimates of $810.47 million. Construction Partners had a net margin of 3.04% and a return on equity of 12.24%. The business’s revenue for the quarter was up 50.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 earnings per share. Construction Partners has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Construction Partners, Inc. will post 1.96 earnings per share for the current 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.