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

Peregrine Capital Management LLC decreased its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 4.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 106,176 shares of the company’s stock after selling 4,575 shares during the quarter. Peregrine Capital Management LLC owned about 0.19% of Construction Partners worth $11,798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Tyro Capital Management LLC raised its stake in shares of Construction Partners by 6.8% during the 3rd quarter. Tyro Capital Management LLC now owns 164,488 shares of the company’s stock valued at $20,890,000 after purchasing an additional 10,465 shares during the period. First Trust Advisors LP boosted its stake in Construction Partners by 33.2% in the 3rd quarter. First Trust Advisors LP now owns 1,059,566 shares of the company’s stock worth $134,565,000 after purchasing an additional 264,069 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new position in Construction Partners during the 4th quarter valued at about $42,518,000. Pinnbrook Capital Management LP purchased a new position in Construction Partners during the 3rd quarter valued at about $6,277,000. Finally, Artemis Investment Management LLP grew its holdings in Construction Partners by 7.8% during the 4th quarter. Artemis Investment Management LLP now owns 708,617 shares of the company’s stock valued at $76,920,000 after buying an additional 51,052 shares in the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Zacks Research downgraded shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Truist Financial assumed coverage on shares of Construction Partners in a research note on Wednesday, June 3rd. They set a “hold” rating and a $130.00 price objective for the company. Robert W. Baird upped their target price on shares of Construction Partners from $129.00 to $169.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Raymond James Financial reiterated a “strong-buy” rating and issued a $140.00 target price on shares of Construction Partners in a research note on Monday, April 27th. Finally, Weiss Ratings downgraded shares of Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $136.50.

Construction Partners Stock Performance

Shares of ROAD opened at $118.77 on Wednesday. Construction Partners, Inc. has a 12-month low of $93.22 and a 12-month high of $151.00. 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 company has a market cap of $6.71 billion, a PE ratio of 52.09, a price-to-earnings-growth ratio of 1.00 and a beta of 0.88. The stock has a 50-day moving average price of $119.49 and a 200-day moving average price of $118.14.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings data on Friday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.23. Construction Partners had a net margin of 3.90% and a return on equity of 15.22%. The company had revenue of $769.20 million during the quarter, compared to the consensus estimate of $678.46 million. During the same period in the previous year, the firm posted $0.08 EPS. The firm’s revenue was up 34.6% compared to the same quarter last year. As a group, equities analysts forecast that Construction Partners, Inc. will post 2.95 earnings per share for the current fiscal year.

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.