Rice Hall James & Associates LLC Sells 20,365 Shares of Construction Partners, Inc. $ROAD

Rice Hall James & Associates LLC decreased its position in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 24.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 62,355 shares of the company’s stock after selling 20,365 shares during the period. Rice Hall James & Associates LLC’s holdings in Construction Partners were worth $7,919,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Caitong International Asset Management Co. Ltd increased its holdings in Construction Partners by 2,750.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 285 shares of the company’s stock valued at $30,000 after purchasing an additional 275 shares in the last quarter. MAI Capital Management bought a new position in shares of Construction Partners in the second quarter valued at about $44,000. Hazlett Burt & Watson Inc. lifted its position in Construction Partners by 88.9% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 425 shares of the company’s stock worth $45,000 after buying an additional 200 shares in the last quarter. NewEdge Advisors LLC grew its holdings in Construction Partners by 161.1% during the 2nd quarter. NewEdge Advisors LLC now owns 564 shares of the company’s stock worth $60,000 after acquiring an additional 348 shares during the last quarter. Finally, Montag A & Associates Inc. increased its position in Construction Partners by 46.5% in the 2nd quarter. Montag A & Associates Inc. now owns 586 shares of the company’s stock valued at $62,000 after acquiring an additional 186 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors.

Construction Partners Trading Up 0.9%

ROAD opened at $113.07 on Friday. The firm’s fifty day moving average is $110.15 and its two-hundred day moving average is $112.48. The firm has a market cap of $6.39 billion, a PE ratio of 61.79, a price-to-earnings-growth ratio of 1.07 and a beta of 0.88. Construction Partners, Inc. has a twelve month low of $64.79 and a twelve month high of $138.90. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.34 and a current ratio of 1.61.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings data on Thursday, November 20th. The company reported $1.07 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.04). Construction Partners had a return on equity of 14.42% and a net margin of 3.62%.The business had revenue of $899.85 million for the quarter, compared to analyst estimates of $896.17 million. During the same period in the previous year, the business posted $0.56 EPS. The business’s quarterly revenue was up 67.2% compared to the same quarter last year. Equities research analysts anticipate that Construction Partners, Inc. will post 1.96 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ROAD shares. Weiss Ratings downgraded Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. Robert W. Baird dropped their price objective on Construction Partners from $131.00 to $124.00 and set an “outperform” rating for the company in a report on Friday, November 21st. Bank of America reduced their target price on shares of Construction Partners from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, November 21st. Raymond James Financial reiterated a “strong-buy” rating and set a $135.00 price target (up previously from $120.00) on shares of Construction Partners in a research report on Tuesday, October 21st. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $120.00 price objective on shares of Construction Partners in a research note on Friday, November 21st. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $123.50.

About Construction Partners

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.