Comerica Bank Acquires 37,631 Shares of Construction Partners, Inc. $ROAD

Key Points

• Comerica Bank increased its stake in Construction Partners, Inc. by 14.1%, holding a total of 304,438 shares valued at approximately $21.88 million.
• Analysts have shown confidence in Construction Partners, with several upgrades, including a strong-buy rating from Baird and a price target of $122.00.
• Despite reporting earnings per share of $0.81, which was below the consensus estimate, Construction Partners saw a 50.5% increase in year-over-year revenue, totaling $779.28 million for the quarter.

Comerica Bank lifted its position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 14.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 304,438 shares of the company's stock after purchasing an additional 37,631 shares during the quarter. Comerica Bank owned 0.54% of Construction Partners worth $21,880,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Montag A & Associates Inc. acquired a new stake in shares of Construction Partners in the 1st quarter worth about $29,000. Versant Capital Management Inc bought a new stake in shares of Construction Partners in the 1st quarter worth approximately $30,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Construction Partners during the 1st quarter valued at $60,000. Johnson Financial Group Inc. purchased a new stake in Construction Partners during the fourth quarter valued at about $66,000. Finally, SVB Wealth LLC purchased a new stake in shares of Construction Partners during the 1st quarter valued at approximately $80,000. 94.83% of the stock is currently owned by institutional investors.

Construction Partners Price Performance

ROAD traded down $1.57 on Friday, reaching $119.90. The company had a trading volume of 320,441 shares, compared to its average volume of 676,225. Construction Partners, Inc. has a 52-week low of $56.52 and a 52-week high of $124.12. The company has a market cap of $6.73 billion, a price-to-earnings ratio of 87.52, a P/E/G ratio of 1.54 and a beta of 1.00. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.20 and a current ratio of 1.47. The business has a 50 day simple moving average of $108.01 and a 200 day simple moving average of $93.02.

Construction Partners (NASDAQ:ROAD - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The company had revenue of $779.28 million during the quarter, compared to analysts' expectations of $810.47 million. Construction Partners had a return on equity of 12.24% and a net margin of 3.04%.Construction Partners's quarterly revenue was up 50.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.59 EPS. Construction Partners has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Construction Partners, Inc. will post 1.96 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ROAD shares. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Construction Partners in a report on Friday, August 8th. Baird R W upgraded Construction Partners from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 8th. Finally, Robert W. Baird set a $122.00 target price on Construction Partners and gave the company an "outperform" rating in a report on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, Construction Partners has an average rating of "Buy" and a consensus target price of $112.33.

Construction Partners Company Profile

Construction Partners, Inc, a civil infrastructure company, constructs and maintains roadways in Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee. The company provides various products and services to public and private infrastructure projects, such as highways, roads, bridges, airports, and commercial and residential developments.