Todd Keith Andrews, the Chief Accounting Officer of Construction Partners, Inc. (NASDAQ:ROAD), a company that has delivered an impressive 120% return year-to-date and maintains a market capitalization of $5 billion, reported a significant stock transaction according to an SEC filing. According to InvestingPro analysis, the company currently trades at premium multiples, reflecting strong market confidence. On December 16, Andrews sold 2,511 shares of Class A common stock, with prices ranging from $95.79 to $95.89 per share, resulting in a total transaction value of approximately $240,704. Following this sale, Andrews retains ownership of 19,339 shares, which includes 10,542 restricted shares subject to time-based vesting criteria. The stock currently trades near $89, showing recent price volatility. InvestingPro subscribers can access 17 additional investment tips and a comprehensive Pro Research Report for deeper analysis of ROAD's valuation and growth prospects.
In other recent news, Construction Partners, Inc. reported a record fiscal year in 2024, with revenue increasing by 17% to $1.82 billion and net income rising by 41% to $68.9 million. Adjusted EBITDA also saw a significant increase of 28%, reaching $220.6 million. The company completed eight acquisitions in fiscal 2024, expanding its market share in Sunbelt states. Among these acquisitions, the purchase of Lone Star Paving played a crucial role, enhancing the company's presence in Texas and contributing to its EBITDA margins.
DA Davidson, following these developments, raised the price target for Construction Partners to $95.00 from the previous target of $75.00, while maintaining a neutral rating on the stock. Additionally, SunTx Capital Partners (WA:CPAP) II and SunTx Capital Partners II Dutch Investors, L.P. recently redistributed an aggregate of 322,958 shares of Class A common stock and 177,042 shares of Class B common stock to their respective partners at no cost.
Looking forward, Construction Partners projects increased revenue between $2.48 billion and $2.58 billion for fiscal 2025, and adjusted EBITDA between $347 million and $377 million. The company anticipates robust demand in commercial and public markets, backed by the Infrastructure Investment and Jobs Act. These are among the recent developments for Construction Partners, providing investors with insights into the company's performance and future expectations.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.