JPMorgan Chase & Co. Acquires 27,901 Shares of Construction Partners, Inc. $ROAD

JPMorgan Chase & Co. increased its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 24.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 140,742 shares of the company’s stock after purchasing an additional 27,901 shares during the period. JPMorgan Chase & Co. owned 0.25% of Construction Partners worth $14,958,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Handelsbanken Fonder AB boosted its position in Construction Partners by 0.8% during the 2nd quarter. Handelsbanken Fonder AB now owns 12,000 shares of the company’s stock valued at $1,275,000 after acquiring an additional 100 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Construction Partners by 29.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 743 shares of the company’s stock worth $79,000 after purchasing an additional 170 shares during the last quarter. Summit Investment Advisors Inc. boosted its position in Construction Partners by 4.1% during the first quarter. Summit Investment Advisors Inc. now owns 4,676 shares of the company’s stock valued at $336,000 after purchasing an additional 184 shares in the last quarter. Montag A & Associates Inc. grew its stake in Construction Partners by 46.5% in the second quarter. Montag A & Associates Inc. now owns 586 shares of the company’s stock valued at $62,000 after purchasing an additional 186 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. raised its holdings in Construction Partners by 88.9% in the second quarter. Hazlett Burt & Watson Inc. now owns 425 shares of the company’s stock worth $45,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 94.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ROAD shares. Weiss Ratings restated a “hold (c)” rating on shares of Construction Partners in a report on Monday, November 24th. DA Davidson restated a “neutral” rating and issued a $120.00 target price on shares of Construction Partners in a research note on Friday, November 21st. Raymond James Financial reaffirmed a “strong-buy” rating and set a $135.00 price target (up from $120.00) on shares of Construction Partners in a research report on Tuesday, October 21st. Zacks Research cut Construction Partners from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Finally, Bank of America dropped their target price on Construction Partners from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, November 21st. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Construction Partners presently has an average rating of “Moderate Buy” and a consensus price target of $123.50.

Construction Partners Trading Down 2.2%

NASDAQ ROAD opened at $103.04 on Friday. Construction Partners, Inc. has a 12-month low of $64.79 and a 12-month high of $138.90. The company has a fifty day simple moving average of $114.07 and a two-hundred day simple moving average of $111.99. The company has a current ratio of 1.61, a quick ratio of 1.34 and a debt-to-equity ratio of 1.73. The stock has a market cap of $5.82 billion, a P/E ratio of 56.31, a P/E/G ratio of 0.98 and a beta of 0.88.

Construction Partners (NASDAQ:ROAD) last released its earnings results on Thursday, November 20th. The company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.04). Construction Partners had a net margin of 3.62% and a return on equity of 14.42%. The firm had revenue of $899.85 million during the quarter, compared to analyst estimates of $896.17 million. During the same period in the previous year, the company earned $0.56 earnings per share. Construction Partners’s revenue was up 67.2% on a year-over-year basis. On average, analysts forecast that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Construction Partners Company Profile

Construction Partners, Inc, a civil infrastructure company, constructs and maintains roadways in Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee. The company provides various products and services to public and private infrastructure projects, such as highways, roads, bridges, airports, and commercial and residential developments.