Construction Partners, Inc. $ROAD Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its position in Construction Partners, Inc. (NASDAQ:ROAD) by 37.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,673 shares of the company’s stock after selling 52,069 shares during the period. JPMorgan Chase & Co. owned about 0.16% of Construction Partners worth $11,261,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. TD Waterhouse Canada Inc. acquired a new stake in Construction Partners in the third quarter valued at $25,000. AlphaQuest LLC raised its stake in shares of Construction Partners by 292.5% during the 3rd quarter. AlphaQuest LLC now owns 208 shares of the company’s stock worth $26,000 after buying an additional 155 shares during the last quarter. Morse Asset Management Inc boosted its position in shares of 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 buying an additional 180 shares in the last quarter. Danske Bank A S purchased a new stake in shares of Construction Partners in the 3rd quarter worth about $38,000. Finally, Quarry LP acquired a new stake in Construction Partners in the 3rd quarter valued at about $42,000. 94.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on ROAD. B. Riley Financial began coverage on shares of Construction Partners in a report on Thursday, January 15th. They set a “neutral” rating and a $117.00 target price for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Construction Partners in a research report on Monday, December 29th. Robert W. Baird set a $142.00 price objective on shares of Construction Partners in a research note on Friday, February 6th. DA Davidson lifted their price objective on Construction Partners from $120.00 to $130.00 and gave the stock a “neutral” rating in a research report on Friday, February 6th. Finally, Zacks Research raised Construction Partners from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 29th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Construction Partners has a consensus rating of “Moderate Buy” and a consensus target price of $127.80.

Construction Partners Price Performance

NASDAQ:ROAD opened at $109.04 on Friday. Construction Partners, Inc. has a 12-month low of $64.79 and a 12-month high of $141.90. The firm has a market cap of $6.16 billion, a price-to-earnings ratio of 49.56, a price-to-earnings-growth ratio of 0.96 and a beta of 0.83. The company’s 50-day moving average is $121.83 and its two-hundred day moving average is $117.49. The company has a current ratio of 1.59, a quick ratio of 1.26 and a debt-to-equity ratio of 1.76.

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