Rice Hall James & Associates LLC Reduces Stake in Construction Partners, Inc. $ROAD

Rice Hall James & Associates LLC decreased its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 14.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 53,297 shares of the company’s stock after selling 9,058 shares during the period. Rice Hall James & Associates LLC’s holdings in Construction Partners were worth $5,785,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. AlphaQuest LLC increased its holdings in Construction Partners by 292.5% during the 3rd quarter. AlphaQuest LLC now owns 208 shares of the company’s stock worth $26,000 after acquiring an additional 155 shares during the period. Morse Asset Management Inc lifted its stake in Construction Partners by 300.0% in the 3rd quarter. Morse Asset Management Inc now owns 240 shares of the company’s stock worth $30,000 after purchasing an additional 180 shares in the last quarter. Danske Bank A S purchased a new stake in Construction Partners in the 3rd quarter worth approximately $38,000. Quarry LP purchased a new stake in Construction Partners in the 3rd quarter worth approximately $42,000. Finally, NewEdge Advisors LLC lifted its stake in Construction Partners by 161.1% in the 2nd quarter. NewEdge Advisors LLC now owns 564 shares of the company’s stock worth $60,000 after purchasing an additional 348 shares in the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Construction Partners Stock Performance

NASDAQ:ROAD opened at $120.28 on Tuesday. The business’s 50-day moving average price is $117.54 and its two-hundred day moving average price is $116.85. Construction Partners, Inc. has a twelve month low of $93.22 and a twelve month high of $151.00. The stock has a market cap of $6.80 billion, a P/E ratio of 52.75, a PEG ratio of 0.95 and a beta of 0.88. The company has a quick ratio of 1.21, a current ratio of 1.53 and a debt-to-equity ratio of 1.75.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings results on Friday, May 8th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate 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 last year, the firm posted $0.08 EPS. The company’s revenue was up 34.6% compared to the same quarter last year. As a group, equities analysts predict that Construction Partners, Inc. will post 2.95 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on ROAD. Zacks Research cut shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Robert W. Baird increased their target price on shares of Construction Partners from $129.00 to $169.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Weiss Ratings cut Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Truist Financial initiated coverage on Construction Partners in a report on Wednesday, June 3rd. They issued a “hold” rating and a $130.00 price target on the stock. Finally, B. Riley Financial raised Construction Partners from a “neutral” rating to a “buy” rating and raised their price target for the company from $117.00 to $135.00 in a report on Thursday, April 2nd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $136.50.

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.