Rice Hall James & Associates LLC Sells 9,058 Shares of Construction Partners, Inc. $ROAD

Rice Hall James & Associates LLC lessened its holdings in Construction Partners, Inc. (NASDAQ:ROAD) by 14.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,297 shares of the company’s stock after selling 9,058 shares during the quarter. Rice Hall James & Associates LLC owned 0.09% of Construction Partners worth $5,785,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Squarepoint Ops LLC grew its stake in Construction Partners by 3.7% in the 4th quarter. Squarepoint Ops LLC now owns 112,570 shares of the company’s stock valued at $12,219,000 after purchasing an additional 4,027 shares during the period. Truvestments Capital LLC grew its stake in Construction Partners by 10.4% in the 4th quarter. Truvestments Capital LLC now owns 10,445 shares of the company’s stock valued at $1,134,000 after purchasing an additional 984 shares during the period. Nicolet Advisory Services LLC grew its stake in Construction Partners by 193.3% in the 4th quarter. Nicolet Advisory Services LLC now owns 5,962 shares of the company’s stock valued at $698,000 after purchasing an additional 3,929 shares during the period. Barclays PLC grew its stake in Construction Partners by 11.4% in the 4th quarter. Barclays PLC now owns 83,806 shares of the company’s stock valued at $9,097,000 after purchasing an additional 8,565 shares during the period. Finally, Bornite Capital Management LP bought a new position in Construction Partners in the 4th quarter valued at $16,282,000. Institutional investors own 94.83% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on ROAD shares. B. Riley Financial upgraded Construction Partners from a “neutral” rating to a “buy” rating and upped their price objective for the company from $117.00 to $135.00 in a research note on Thursday, April 2nd. Robert W. Baird upped their price objective on Construction Partners from $129.00 to $169.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Truist Financial began coverage on Construction Partners in a research report on Wednesday, June 3rd. They set a “hold” rating and a $130.00 price target on the stock. Raymond James Financial reaffirmed a “strong-buy” rating and set a $140.00 price target on shares of Construction Partners in a research report on Monday, April 27th. Finally, Weiss Ratings cut Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Construction Partners has an average rating of “Moderate Buy” and an average target price of $136.50.

Construction Partners Stock Up 5.6%

Shares of NASDAQ ROAD opened at $120.28 on Tuesday. Construction Partners, Inc. has a one year low of $93.22 and a one year high of $151.00. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.53 and a quick ratio of 1.21. The business’s fifty day moving average price is $117.54 and its 200-day moving average price is $116.85. The stock has a market capitalization of $6.80 billion, a PE ratio of 52.75, a P/E/G ratio of 0.95 and a beta of 0.88.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings results on Friday, May 8th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.23. Construction Partners had a return on equity of 15.22% and a net margin of 3.90%.The firm had revenue of $769.20 million for the quarter, compared to analysts’ expectations of $678.46 million. During the same quarter in the prior year, the firm earned $0.08 EPS. The business’s revenue for the quarter was up 34.6% compared to the same quarter last year. On average, equities research analysts anticipate that Construction Partners, Inc. will post 2.95 EPS for the current year.

Construction Partners Profile

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.