JPMorgan Chase & Co. Trims Stake in Construction Partners, Inc. $ROAD

JPMorgan Chase & Co. lowered its position in Construction Partners, Inc. (NASDAQ:ROAD) by 37.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 88,673 shares of the company’s stock after selling 52,069 shares during the quarter. JPMorgan Chase & Co. owned about 0.16% of Construction Partners worth $11,261,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ROAD. Ground Swell Capital LLC purchased a new position in Construction Partners during the third quarter worth about $452,000. Advisors Asset Management Inc. boosted its position in shares of Construction Partners by 20.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 82,709 shares of the company’s stock valued at $10,504,000 after acquiring an additional 14,084 shares during the last quarter. AGF Management Ltd. purchased a new position in shares of Construction Partners during the third quarter worth about $15,062,000. Jones Financial Companies Lllp grew its holdings in shares of Construction Partners by 29.8% during the third quarter. Jones Financial Companies Lllp now owns 16,528 shares of the company’s stock worth $2,115,000 after purchasing an additional 3,791 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Construction Partners by 13.3% in the third quarter. Principal Financial Group Inc. now owns 41,581 shares of the company’s stock worth $5,281,000 after purchasing an additional 4,885 shares during the last quarter. Institutional investors own 94.83% of the company’s stock.

Construction Partners Stock Performance

Construction Partners stock opened at $125.63 on Friday. The firm has a fifty day simple moving average of $121.09 and a two-hundred day simple moving average of $117.92. The company has a quick ratio of 1.26, a current ratio of 1.59 and a debt-to-equity ratio of 1.76. Construction Partners, Inc. has a twelve month low of $64.79 and a twelve month high of $141.90. The company has a market capitalization of $7.10 billion, a PE ratio of 57.10, a P/E/G ratio of 1.21 and a beta of 0.83.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings data on Thursday, February 5th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.16. The firm had revenue of $809.47 million for the quarter, compared to analysts’ expectations of $740.14 million. Construction Partners had a return on equity of 15.26% and a net margin of 3.99%.The company’s revenue for the quarter was up 44.1% compared to the same quarter last year. During the same period last year, the firm earned $0.25 earnings per share. Research analysts expect that Construction Partners, Inc. will post 1.96 EPS for the current year.

Analyst Ratings Changes

A number of research firms have commented on ROAD. Weiss Ratings reissued a “hold (c+)” rating on shares of Construction Partners in a research note on Monday, December 29th. Robert W. Baird set a $142.00 target price on shares of Construction Partners in a research report on Friday, February 6th. B. Riley Financial began coverage on Construction Partners in a research note on Thursday, January 15th. They issued a “neutral” rating and a $117.00 target price on the stock. DA Davidson lifted their price target on Construction Partners from $120.00 to $130.00 and gave the stock a “neutral” rating in a research note on Friday, February 6th. Finally, Bank of America cut their price objective on Construction Partners from $120.00 to $115.00 and set a “buy” rating for the company in a report on Friday, November 21st. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.80.

About Construction Partners

Construction Partners, Inc (NASDAQ: ROAD) is a specialty contractor and infrastructure solutions provider focused on road building, paving, site development and aggregate production. The company delivers a comprehensive suite of civil construction services, including roadway paving and milling, site grading and preparation, stormwater and utility installation, and full-scale asphalt plant operations. By integrating materials production with contracting capabilities, the firm aims to streamline project delivery and maintain quality control across its contracting and materials businesses.

At the heart of Construction Partners’ operations are its network of asphalt plants, quarries and aggregate production facilities.