Comerica Bank Purchases 59,244 Shares of Construction Partners, Inc. $ROAD

Key Points

• Comerica Bank increased its stake in Construction Partners (NASDAQ:ROAD) by 30.1%, buying 59,244 shares to hold 255,975 shares (about 0.45% of the company) valued at roughly $27.79 million; institutional investors now own 94.83% of the stock.
• Analysts have grown bullish—Construction Partners carries an average rating of "Buy" with a consensus price target of $132.40, and several firms recently raised targets (e.g., Baird $142, Raymond James $140, B. Riley $135).
• Recent quarterly results beat expectations—EPS of $0.47 vs. $0.31 expected and revenue of $809.5 million (up 44.1% YoY)—and the stock traded around $120.79 with a market cap near $6.83 billion.

Comerica Bank raised its position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 30.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 255,975 shares of the company's stock after acquiring an additional 59,244 shares during the period. Comerica Bank owned approximately 0.45% of Construction Partners worth $27,786,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ROAD. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Construction Partners during the fourth quarter worth approximately $42,518,000. First Trust Advisors LP raised its position in shares of Construction Partners by 33.2% in the third quarter. First Trust Advisors LP now owns 1,059,566 shares of the company's stock valued at $134,565,000 after buying an additional 264,069 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Construction Partners by 38.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 810,881 shares of the company's stock valued at $90,948,000 after buying an additional 224,575 shares in the last quarter. Bank of America Corp DE raised its position in shares of Construction Partners by 41.9% in the third quarter. Bank of America Corp DE now owns 757,172 shares of the company's stock valued at $96,161,000 after buying an additional 223,549 shares in the last quarter. Finally, AGF Management Ltd. acquired a new stake in shares of Construction Partners in the third quarter valued at approximately $15,062,000. Institutional investors own 94.83% of the company's stock.

Wall Street Analysts Forecast Growth

ROAD has been the subject of a number of analyst reports. Robert W. Baird set a $142.00 price target on shares of Construction Partners in a research report on Friday, February 6th. Raymond James Financial reiterated a "strong-buy" rating and issued a $140.00 price target on shares of Construction Partners in a research report on Monday. Weiss Ratings upgraded shares of Construction Partners from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, April 21st. B. Riley Financial upgraded shares of Construction Partners from a "neutral" rating to a "buy" rating and lifted their price target for the company from $117.00 to $135.00 in a research report on Thursday, April 2nd. Finally, DA Davidson lifted their price target on shares of Construction Partners from $120.00 to $130.00 and gave the company a "neutral" rating in a research report on Friday, February 6th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Construction Partners currently has an average rating of "Buy" and a consensus target price of $132.40.

Construction Partners Stock Up 0.5%

Shares of ROAD opened at $120.79 on Tuesday. Construction Partners, Inc. has a one year low of $77.76 and a one year high of $141.90. The company has a market cap of $6.83 billion, a P/E ratio of 54.90, a P/E/G ratio of 1.06 and a beta of 0.92. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.59 and a quick ratio of 1.26. The firm has a 50 day simple moving average of $120.05 and a two-hundred day simple moving average of $115.71.

Construction Partners (NASDAQ:ROAD - Get Free Report) last announced its quarterly earnings data on Thursday, February 5th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.31 by $0.16. Construction Partners had a net margin of 3.99% and a return on equity of 15.26%. The business had revenue of $809.47 million during the quarter, compared to the consensus estimate of $740.14 million. During the same period in the previous year, the business earned $0.25 earnings per share. The company's revenue was up 44.1% on a year-over-year basis. Research analysts forecast that Construction Partners, Inc. will post 2.89 EPS 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.

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