Dothan, AL - Todd Keith Andrews, Chief Accounting Officer at Construction Partners, Inc. (NASDAQ:ROAD), has sold 5,489 shares of the company's Class A common stock. The transaction, which took place on December 20, 2024, was executed at a price of $91.84 per share, resulting in a total sale value of $504,109. The sale comes as Construction Partners, now valued at over $5 billion, has seen its stock surge more than 110% year-to-date, though InvestingPro analysis indicates the stock is currently trading above its Fair Value.
Following this transaction, Andrews holds 17,394 shares directly, including 10,542 restricted shares with time-based vesting criteria. These restricted shares are set to vest in installments over the next three years, with specific shares vesting on September 30 of each year until 2027. Additionally, Andrews holds 858 restricted stock units, which will vest in equal installments from September 2025 through 2027. Trading at a P/E ratio of 68x and showing strong momentum, ROAD maintains a "Good" financial health score according to InvestingPro, which offers 15+ additional insights and a comprehensive Pro Research Report for deeper analysis.
In other recent news, Construction Partners, Inc. reported significant growth in fiscal 2024, with revenues rising by 17% to $1.82 billion and net income surging by 41% to $68.9 million. The company's adjusted EBITDA also saw a substantial increase of 28%, reaching $220.6 million. Additionally, the company completed eight acquisitions, including the transformative acquisition of Lone Star Paving, which expanded its market share in Sunbelt states and enhanced its EBITDA margins.
DA Davidson, considering these developments, raised the price target for Construction Partners from $75.00 to $95.00, maintaining a neutral stance on the stock. The firm's analysis factored in the contributions from the Lone Star Paving acquisition and projected robust demand in commercial and public markets, backed by the Infrastructure Investment and Jobs Act.
Moreover, Construction Partners recently saw a redistribution of shares by SunTx Capital Partners (WA:CPAP) II and SunTx Capital Partners II Dutch Investors, affecting the company's ownership structure. These shareholders distributed a total of 500,000 shares of Class A and Class B common stock to their respective partners at no cost. Following this, they retain ownership of 3,743,068 shares of Class B common stock, representing approximately 51.2% of the voting power of Construction Partners' common stock.
For fiscal 2025, Construction Partners projects increased revenue between $2.48 billion and $2.58 billion, and adjusted EBITDA between $347 million and $377 million. These are among the recent developments for Construction Partners.
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