Conestoga Capital Advisors LLC Has $183.80 Million Holdings in Construction Partners, Inc. $ROAD

Conestoga Capital Advisors LLC lowered its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 18.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,654,102 shares of the company’s stock after selling 370,900 shares during the period. Construction Partners accounts for 3.7% of Conestoga Capital Advisors LLC’s holdings, making the stock its 5th largest holding. Conestoga Capital Advisors LLC owned approximately 2.93% of Construction Partners worth $183,804,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of ROAD. Morse Asset Management Inc lifted its stake in shares of Construction Partners by 300.0% in the 3rd quarter. Morse Asset Management Inc now owns 240 shares of the company’s stock valued at $30,000 after acquiring an additional 180 shares during the last quarter. Danske Bank A S bought a new stake in Construction Partners during the 3rd quarter worth $38,000. Harbor Investment Advisory LLC bought a new stake in Construction Partners during the 1st quarter worth $39,000. Quarry LP acquired a new position in Construction Partners in the 3rd quarter worth about $42,000. Finally, NewEdge Advisors LLC raised its position in Construction Partners by 161.1% in the second quarter. NewEdge Advisors LLC now owns 564 shares of the company’s stock valued at $60,000 after purchasing an additional 348 shares during the last quarter. Institutional investors own 94.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Weiss Ratings lowered Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Raymond James Financial reiterated a “strong-buy” rating and issued a $140.00 price objective on shares of Construction Partners in a report on Monday, April 27th. B. Riley Financial upgraded shares of Construction Partners from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $117.00 to $135.00 in a research report on Thursday, April 2nd. Truist Financial initiated coverage on shares of Construction Partners in a research report on Wednesday, June 3rd. They issued a “hold” rating and a $130.00 price target for the company. Finally, Zacks Research downgraded shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $132.50.

Construction Partners Trading Down 8.1%

NASDAQ ROAD opened at $109.10 on Thursday. The business’s 50-day moving average price is $119.12 and its two-hundred day moving average price is $118.14. Construction Partners, Inc. has a 12 month low of $93.22 and a 12 month high of $151.00. The firm has a market capitalization of $6.17 billion, a PE ratio of 47.85, a price-to-earnings-growth ratio of 0.99 and a beta of 0.88. The company has a current ratio of 1.53, a quick ratio of 1.21 and a debt-to-equity ratio of 1.75.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings data on Friday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.23. The company had revenue of $769.20 million during the quarter, compared to the consensus estimate of $678.46 million. Construction Partners had a return on equity of 15.22% and a net margin of 3.90%.The firm’s revenue was up 34.6% compared to the same quarter last year. During the same period last year, the company earned $0.08 earnings per share. On average, analysts expect that Construction Partners, Inc. will post 2.95 EPS for the current year.

Construction Partners Company 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.