2024-07-19 05:30:22 ET
Summary
- Construction Partners continues to see double-digit topline growth due to strong project activity and government funding.
- Growth should continue further due to healthy demand and strong backlog levels.
- Margin prospects also look good, with expected volume growth and operational improvement.
- Despite a promising growth outlook, the stock is not a buy due to its significant premium valuation versus its historical levels and peers.
The Thesis
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Construction Partners: Positioned To Continue Growth, But High Valuation Is A Concern