Fintel reports that on October 5, 2023, Raymond James maintained coverage of Construction Partners Inc - (NASDAQ:ROAD) with a Strong Buy recommendation.
Analyst Price Forecast Suggests 0.84% Upside
As of October 5, 2023, the average one-year price target for Construction Partners Inc - is 39.40. The forecasts range from a low of 35.35 to a high of $43.05. The average price target represents an increase of 0.84% from its latest reported closing price of 39.07.
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The projected annual revenue for Construction Partners Inc - is 1,652MM, an increase of 11.50%. The projected annual non-GAAP EPS is 0.94.
What is the Fund Sentiment?
There are 347 funds or institutions reporting positions in Construction Partners Inc -. This is an increase of 20 owner(s) or 6.12% in the last quarter. Average portfolio weight of all funds dedicated to ROAD is 0.23%, an increase of 7.39%. Total shares owned by institutions decreased in the last three months by 0.47% to 50,612K shares. 
The put/call ratio of ROAD is 0.04, indicating a bullish outlook.
What are Other Shareholders Doing?
Conestoga Capital Advisors holds 5,091K shares representing 9.66% ownership of the company. In it's prior filing, the firm reported owning 5,244K shares, representing a decrease of 3.00%. The firm increased its portfolio allocation in ROAD by 7.24% over the last quarter.
Kayne Anderson Rudnick Investment Management holds 4,017K shares representing 7.62% ownership of the company. In it's prior filing, the firm reported owning 4,265K shares, representing a decrease of 6.18%. The firm increased its portfolio allocation in ROAD by 4.47% over the last quarter.
Geneva Capital Management holds 3,133K shares representing 5.94% ownership of the company. In it's prior filing, the firm reported owning 3,137K shares, representing a decrease of 0.14%. The firm increased its portfolio allocation in ROAD by 88.11% over the last quarter.
CCASX - Conestoga Small Cap Fund Investors Class holds 2,942K shares representing 5.58% ownership of the company. In it's prior filing, the firm reported owning 3,036K shares, representing a decrease of 3.20%. The firm increased its portfolio allocation in ROAD by 6.52% over the last quarter.
Invesco holds 2,169K shares representing 4.11% ownership of the company. In it's prior filing, the firm reported owning 2,191K shares, representing a decrease of 1.00%. The firm increased its portfolio allocation in ROAD by 1,071.22% over the last quarter.
Construction Partners Background Information
(This description is provided by the company.)
Construction Partners, Inc. is a vertically integrated civil infrastructure company operating across five southeastern states, with 48 hot-mix asphalt plants, nine aggregate facilities and one liquid asphalt terminal. Publicly funded projects make up the majority of its business and include local and state roadways, interstate highways, airport runways and bridges. The majority of the Company's public projects are maintenance-related. Private sector projects include paving and sitework for office and industrial parks, shopping centers, local businesses and residential developments.
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