Comerica Bank Raises Stock Holdings in 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 boosted its holdings in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 14.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 304,438 shares of the company's stock after purchasing an additional 37,631 shares during the period. Comerica Bank owned about 0.54% of Construction Partners worth $21,880,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. MetLife Investment Management LLC boosted its holdings in Construction Partners by 3.7% in the first quarter. MetLife Investment Management LLC now owns 26,891 shares of the company's stock valued at $1,933,000 after purchasing an additional 965 shares during the last quarter. Jump Financial LLC purchased a new position in Construction Partners in the first quarter valued at about $1,707,000. SVB Wealth LLC purchased a new position in Construction Partners in the first quarter valued at about $80,000. Advantage Alpha Capital Partners LP boosted its holdings in Construction Partners by 89.6% in the first quarter. Advantage Alpha Capital Partners LP now owns 57,863 shares of the company's stock valued at $4,159,000 after purchasing an additional 27,346 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Construction Partners by 10.9% in the first quarter. Ameriprise Financial Inc. now owns 792,993 shares of the company's stock valued at $56,992,000 after purchasing an additional 78,042 shares during the last quarter. Hedge funds and other institutional investors own 94.83% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ROAD. Robert W. Baird set a $122.00 price objective on Construction Partners and gave the company an "outperform" rating in a research note on Friday, August 8th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Construction Partners in a report on Friday, August 8th. Finally, Baird R W raised Construction Partners from a "hold" rating to a "strong-buy" rating in a report on Friday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $112.33.

Construction Partners Trading Up 4.0%

Shares of NASDAQ ROAD opened at $120.60 on Monday. The company has a market cap of $6.76 billion, a price-to-earnings ratio of 88.03, a price-to-earnings-growth ratio of 1.54 and a beta of 1.00. Construction Partners, Inc. has a 12-month low of $56.52 and a 12-month high of $122.97. The company has a current ratio of 1.47, a quick ratio of 1.20 and a debt-to-equity ratio of 1.63. The stock's 50 day simple moving average is $106.27 and its 200 day simple moving average is $91.74.

Construction Partners (NASDAQ:ROAD - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). The company had revenue of $779.28 million during the quarter, compared to the consensus estimate of $810.47 million. Construction Partners had a return on equity of 12.24% and a net margin of 3.04%.The company's revenue for the quarter was up 50.5% on a year-over-year basis. During the same period last year, the business posted $0.59 EPS. Construction Partners has set its FY 2025 guidance at EPS. Equities research analysts expect that Construction Partners, Inc. will post 1.96 EPS for the current year.

About Construction Partners

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.

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