Following these transactions, Owens now holds 130,291 shares indirectly through Grace, Ltd., an Alabama limited partnership. As a director, Owens holds the power to vote and direct the disposition of these shares. The transactions were reported as part of routine filings, providing transparency into insider trading activities at the company. Construction Partners maintains a GREAT financial health score according to InvestingPro, which offers comprehensive insider trading analysis and 17 additional key insights about the company through its detailed Pro Research Report. Construction Partners maintains a GREAT financial health score according to InvestingPro, which offers comprehensive insider trading analysis and 17 additional key insights about the company through its detailed Pro Research Report.
Following these transactions, Owens now holds 130,291 shares indirectly through Grace, Ltd., an Alabama limited partnership. As a director, Owens holds the power to vote and direct the disposition of these shares. The transactions were reported as part of routine filings, providing transparency into insider trading activities at the company.
In other recent news, Construction Partners Inc (NASDAQ:ROAD). saw a significant increase in its fiscal year 2024, with revenue rising by 17% to $1.82 billion and net income growing by 41% to $68.9 million. The company's adjusted EBITDA also saw a substantial increase of 28%, reaching $220.6 million. DA Davidson raised the price target for Construction Partners from $75.00 to $95.00, maintaining a Neutral rating on the stock, largely due to the positive impacts of the Lone Star Paving acquisition and a favorable outlook for the company's future.
The acquisition of Lone Star Paving played a transformative role in the company's strategy, enhancing its presence in Texas and contributing to its EBITDA margins. Construction Partners also completed eight acquisitions in fiscal 2024, further expanding its market share in Sunbelt states.
Looking ahead, Construction Partners anticipates robust demand in commercial and public markets, backed by the Infrastructure Investment and Jobs Act. For fiscal 2025, the company projects increased revenue between $2.48 billion and $2.58 billion, and adjusted EBITDA between $347 million and $377 million. These are the recent developments surrounding Construction Partners.
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