JPMorgan Chase & Co. Reduces Position in Construction Partners, Inc. $ROAD

JPMorgan Chase & Co. decreased its position in Construction Partners, Inc. (NASDAQ:ROAD) by 37.0% during the 3rd quarter, Holdings Channel reports. The firm owned 88,673 shares of the company’s stock after selling 52,069 shares during the period. JPMorgan Chase & Co.’s holdings in Construction Partners were worth $11,261,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ROAD. Bank of New York Mellon Corp grew its holdings in Construction Partners by 81.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 496,783 shares of the company’s stock worth $52,798,000 after acquiring an additional 223,457 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Construction Partners by 19.9% during the second quarter. American Century Companies Inc. now owns 984,879 shares of the company’s stock worth $104,673,000 after purchasing an additional 163,334 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Construction Partners by 42.4% during the second quarter. Franklin Resources Inc. now owns 468,926 shares of the company’s stock worth $49,837,000 after purchasing an additional 139,707 shares during the period. Jump Financial LLC grew its stake in shares of Construction Partners by 509.3% in the second quarter. Jump Financial LLC now owns 144,697 shares of the company’s stock worth $15,378,000 after purchasing an additional 120,949 shares during the last quarter. Finally, AGF Management Ltd. purchased a new position in Construction Partners during the 3rd quarter valued at about $15,062,000. 94.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Bank of America dropped 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. Robert W. Baird set a $142.00 target price on Construction Partners in a report on Friday, February 6th. Zacks Research upgraded shares of Construction Partners from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 29th. B. Riley Financial started coverage on shares of Construction Partners in a report on Thursday, January 15th. They issued a “neutral” rating and a $117.00 price objective for the company. Finally, DA Davidson raised their target price on shares of Construction Partners from $120.00 to $130.00 and gave the stock a “neutral” rating in a research report on Friday, February 6th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $127.80.

Construction Partners Price Performance

Shares of ROAD stock opened at $125.63 on Friday. The stock has a market cap of $7.10 billion, a price-to-earnings ratio of 57.10, a PEG ratio of 1.21 and a beta of 0.83. The business’s fifty day moving average is $121.09 and its 200 day moving average is $117.92. Construction Partners, Inc. has a twelve month low of $64.79 and a twelve month high of $141.90. 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 (NASDAQ:ROAD) last announced its quarterly earnings data on Thursday, February 5th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.31 by $0.16. Construction Partners had a return on equity of 15.26% and a net margin of 3.99%.The business had revenue of $809.47 million during the quarter, compared to analyst estimates of $740.14 million. During the same quarter last year, the firm posted $0.25 earnings per share. The company’s revenue for the quarter was up 44.1% on a year-over-year basis. Research analysts expect that Construction Partners, Inc. will post 1.96 EPS for the current fiscal 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.