Construction Partners (ROAD)
Builds Sunbelt road infrastructure through paving crews and vertically integrated asphalt assets.
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Builds roadways, bridges, runways, and site infrastructure across the Sunbelt, earning from construction contracts and third-party sales of hot-mix asphalt, aggregates, and liquid asphalt cement. Vertically integrated local operations serve mostly publicly funded projects and expand through acquisitions.
Builds and maintains roads, highways, bridges, airport runways, and commercial and residential sites across eight Sunbelt states. Its vertically integrated platform manufactures hot-mix asphalt, mines aggregates, distributes liquid asphalt cement, and performs paving, base-layer, drainage, utility, and site-development work for public agencies and private customers.
Pairs local bidding and project execution with strategically placed materials assets; plant proximity affects project awards because hot-mix asphalt is costly to transport. Expansion comes through acquisitions that add crews, plants, and market density; the network is reported as one operating segment.
Relies mainly on publicly funded work, especially state transportation departments, while private developers supply the rest. Results depend on government infrastructure budgets, fixed-price and unit-price bid discipline, bonding capacity, acquisition integration, weather, and the availability and cost of asphalt, aggregates, fuel, and skilled labor.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 10, 2026 | Robert W. Baird | Target | Target: $145 | Target: $141 |
| Jul 15, 2026 | Raymond James | Reiterate | Rating: —Target: $140 | Target: $150 |
| Jul 1, 2026 | Robert W. Baird | Target | Target: $169 | Target: $145 |
| Jun 3, 2026 | Truist Financial | Target | Target: — | Target: $130 |
| May 11, 2026 | Robert W. Baird | Target | Target: $142 | Target: $169 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $94.5M · Total debt $1.89B · Total assets $3.61B · Shareholders' equity $1.04B
- Revenue
- $999.4M
- Operating income
- $109.4M
- Net income
- $59.6M
No dividends on record.
| Institutions | 88.27% | 50.10M shares | |
|---|---|---|---|
| 372 holders · as of Jun 30, 2026 | |||
| Insiders | 19.92% | 11.31M shares | |
| 14 holders · as of Aug 31, 2026 | |||
| Strategic holders | 10.44% | 5.92M shares | |
| 1 holder · as of Nov 14, 2025 | |||
| Adds to | 118.63% | ||
56.76M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 118.63%; nothing is left for Other.
This company has 2 share classes; every stake here is a share of the whole company.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Ned N. III Fleming1Insiderdirector, 10 percent owner | 17.12% | 9.89M A | filed Dec 11, 2025 |
FMR LLCInstitution | 12.59% | 7.15M A | as of Jun 30, 2026 |
SunTx Capital II Management Corp.2,3Strategicdirector, 10 percent owner | 10.44% | 5.92M A | filed Nov 14, 2025 |
BlackRock, Inc.Institution | 6.83% | 3.88M A | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 3.53% | 2.01M A | as of Jun 30, 2026 |
- Ned N. III Fleming's transaction reports restate only vehicles that traded; the 2022 ownership statement (9.89M) less the 177.3K net shares sold since is used instead.
- SunTx Capital II Management Corp.'s transaction reports restate only vehicles that traded; the 2025 ownership statement (5.92M) is used instead.
- SunTx Capital II Management Corp. reports a block also reported by Conestoga Capital Advisors, LLC; it is counted once, under Conestoga Capital Advisors, LLC.
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Dec 9, 2025 | Ned N. III Fleming | director, 10 percent owner: | +2,000 |
- Granite Construction
Integrated civil contractor with asphalt and aggregates overlap
- CRH
Large integrated materials and road-solutions rival
- Vulcan Materials
Aggregates leader with asphalt and paving overlap
- Knife River
Aggregates-led asphalt and contracting peer
- Martin Marietta
Aggregates-heavy materials peer with asphalt exposure
- Sterling Infrastructure
Transportation and site-development infrastructure peer
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Construction Partners | $94.97 | +0.54% | $5.34B | 37.2 | 26.2 | 1.5 | +28.3% |
| Granite Construction | $115.22 | −0.84% | $5.09B | — | 16.4 | 1.0 | +29.3% |
| CRH | $87.52 | +0.44% | $58.23B | — | — | — | +5.6% |
| Vulcan Materials | $243.81 | −0.97% | $31.90B | 29.0 | 24.9 | 3.9 | +2.5% |
| Knife River | $55.70 | +0.52% | $3.15B | 22.6 | 18.2 | 1.0 | +12.6% |
| Martin Marietta | $496.59 | −0.62% | $30.01B | 12.3 | 25.4 | 4.5 | +7.5% |
| Sterling Infrastructure | $514.13 | +0.29% | $15.73B | 37.0 | 23.2 | 4.6 | +90.1% |
| Median | 25.8 | 23.2 | 3.9 | +10.0% |