Peregrine Capital Management LLC Decreases Holdings in Construction Partners, Inc. $ROAD

Peregrine Capital Management LLC cut its holdings in Construction Partners, Inc. (NASDAQ:ROAD) by 4.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 106,176 shares of the company’s stock after selling 4,575 shares during the period. Peregrine Capital Management LLC’s holdings in Construction Partners were worth $11,798,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Morse Asset Management Inc grew its stake in shares of Construction Partners by 300.0% during the third quarter. Morse Asset Management Inc now owns 240 shares of the company’s stock valued at $30,000 after buying an additional 180 shares during the last quarter. Danske Bank A S bought a new stake in shares of Construction Partners in the 3rd quarter valued at about $38,000. Harbor Investment Advisory LLC bought a new stake in shares of Construction Partners in the 1st quarter valued at about $39,000. Quarry LP bought a new stake in shares of Construction Partners in the 3rd quarter valued at about $42,000. Finally, NewEdge Advisors LLC boosted its holdings in Construction Partners by 161.1% during the 2nd quarter. NewEdge Advisors LLC now owns 564 shares of the company’s stock valued at $60,000 after acquiring an additional 348 shares during the period. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Construction Partners Stock Performance

Construction Partners stock opened at $118.77 on Wednesday. The company has a current ratio of 1.53, a quick ratio of 1.21 and a debt-to-equity ratio of 1.75. The firm has a market cap of $6.71 billion, a P/E ratio of 52.09, a P/E/G ratio of 1.00 and a beta of 0.88. Construction Partners, Inc. has a 1-year low of $93.22 and a 1-year high of $151.00. The firm has a 50-day moving average of $119.49 and a 200-day moving average of $118.14.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings results on Friday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.23. The company had revenue of $769.20 million for the quarter, compared to the consensus estimate of $678.46 million. Construction Partners had a return on equity of 15.22% and a net margin of 3.90%.Construction Partners’s revenue was up 34.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.08 EPS. Sell-side analysts expect that Construction Partners, Inc. will post 2.95 EPS for the current year.

Analyst Upgrades and Downgrades

ROAD has been the topic of several recent research reports. Zacks Research lowered Construction Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Truist Financial initiated coverage on Construction Partners in a research note on Wednesday, June 3rd. They set a “hold” rating and a $130.00 price objective for the company. Weiss Ratings lowered Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Raymond James Financial restated a “strong-buy” rating and issued a $140.00 target price on shares of Construction Partners in a report on Monday, April 27th. Finally, Robert W. Baird lifted 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. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Construction Partners currently has an average rating of “Moderate Buy” and a consensus price target of $136.50.

Construction Partners Company 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.