Corton Capital Inc. Invests $351,000 in Construction Partners, Inc. $ROAD

Corton Capital Inc. acquired a new position in Construction Partners, Inc. (NASDAQ:ROAD) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,303 shares of the company’s stock, valued at approximately $351,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Montag A & Associates Inc. purchased a new position in shares of Construction Partners in the 1st quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd grew its position in shares of Construction Partners by 2,750.0% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 285 shares of the company’s stock worth $30,000 after buying an additional 275 shares during the last quarter. Hazlett Burt & Watson Inc. grew its stake in shares of Construction Partners by 88.9% during the second quarter. Hazlett Burt & Watson Inc. now owns 425 shares of the company’s stock worth $45,000 after acquiring an additional 200 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Construction Partners during the first quarter worth about $60,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of Construction Partners by 29.7% during the second quarter. Nisa Investment Advisors LLC now owns 743 shares of the company’s stock worth $79,000 after acquiring an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ROAD shares. Zacks Research upgraded Construction Partners from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Raymond James Financial restated a “strong-buy” rating and set a $135.00 price target (up previously from $120.00) on shares of Construction Partners in a research note on Tuesday, October 21st. DA Davidson boosted their price target on Construction Partners from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, October 23rd. Weiss Ratings restated a “hold (c+)” rating on shares of Construction Partners in a research note on Wednesday, October 8th. Finally, Baird R W upgraded Construction Partners from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 8th. Three equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $125.67.

Construction Partners Price Performance

Shares of NASDAQ ROAD opened at $114.35 on Monday. Construction Partners, Inc. has a 52 week low of $64.79 and a 52 week high of $138.90. The firm has a market cap of $6.41 billion, a P/E ratio of 83.47, a P/E/G ratio of 1.01 and a beta of 1.02. The business’s 50 day moving average price is $122.61 and its 200 day moving average price is $108.83. The company has a quick ratio of 1.20, a current ratio of 1.47 and a debt-to-equity ratio of 1.63.

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). Construction Partners had a net margin of 3.04% and a return on equity of 12.24%. The company had revenue of $779.28 million during the quarter, compared to analyst estimates of $810.47 million. During the same period in the previous year, the firm posted $0.59 earnings per share. The company’s revenue was up 50.5% compared to the same quarter last year. Construction Partners has set its FY 2025 guidance at EPS. On average, sell-side analysts expect 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.