Summit Creek Advisors LLC Invests $8.33 Million in Construction Partners, Inc. $ROAD

Summit Creek Advisors LLC acquired a new position in Construction Partners, Inc. (NASDAQ:ROAD) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 70,130 shares of the company’s stock, valued at approximately $8,329,000. Construction Partners comprises about 2.8% of Summit Creek Advisors LLC’s investment portfolio, making the stock its 6th biggest position. Summit Creek Advisors LLC owned approximately 0.12% of Construction Partners at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ROAD. Morse Asset Management Inc raised its position in Construction Partners by 300.0% during the 3rd quarter. Morse Asset Management Inc now owns 240 shares of the company’s stock worth $30,000 after purchasing an additional 180 shares during the last quarter. Danske Bank A S bought a new stake in shares of Construction Partners in the 3rd quarter valued at about $38,000. Quarry LP acquired a new stake in shares of Construction Partners in the third quarter valued at about $42,000. Harbor Investment Advisory LLC acquired a new stake in shares of Construction Partners in the first quarter valued at about $39,000. Finally, Hollencrest Capital Management bought a new position in shares of Construction Partners during the first quarter worth about $39,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Construction Partners Stock Down 5.7%

Shares of NASDAQ:ROAD opened at $113.54 on Wednesday. The company has a market capitalization of $6.44 billion, a price-to-earnings ratio of 44.53, a P/E/G ratio of 1.13 and a beta of 0.90. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.57 and a quick ratio of 1.26. The business’s 50-day moving average is $110.76 and its 200-day moving average is $116.91. Construction Partners, Inc. has a 1 year low of $93.42 and a 1 year high of $151.00.

Construction Partners (NASDAQ:ROAD) last released its earnings results on Friday, August 7th. The company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.01 by $0.07. The business had revenue of $999.42 million during 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 firm’s revenue was up 28.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.81 earnings per share. Equities research analysts predict that Construction Partners, Inc. will post 3.02 earnings per share 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.