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

JPMorgan Chase & Co. decreased its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 37.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 88,673 shares of the company’s stock after selling 52,069 shares during the quarter. 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 large investors also recently bought and sold shares of ROAD. TD Waterhouse Canada Inc. acquired a new position in shares of Construction Partners in the 3rd quarter valued at $25,000. AlphaQuest LLC increased its holdings 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 raised 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 during the period. Danske Bank A S purchased a new position in shares of Construction Partners in the 3rd quarter worth $38,000. Finally, Quarry LP acquired a new position in Construction Partners in the third quarter valued at $42,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Analyst Upgrades and Downgrades

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

Construction Partners Stock Performance

Construction Partners stock opened at $109.04 on Friday. The firm has a market capitalization of $6.16 billion, a PE ratio of 49.56, a price-to-earnings-growth ratio of 0.96 and a beta of 0.83. Construction Partners, Inc. has a one year low of $64.79 and a one year high of $141.90. The stock’s 50 day moving average price is $121.83 and its 200 day moving average price is $117.49. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.26 and a current ratio of 1.59.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings data on Thursday, February 5th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.16. The company had revenue of $809.47 million during the quarter, compared to the consensus estimate of $740.14 million. Construction Partners had a net margin of 3.99% and a return on equity of 15.26%. Construction Partners’s revenue for the quarter was up 44.1% on a year-over-year basis. During the same quarter last year, the company earned $0.25 earnings per share. As a group, sell-side analysts expect that Construction Partners, Inc. will post 1.96 EPS for the current fiscal year.

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.