Peregrine Capital Management LLC Sells 8,513 Shares of Construction Partners, Inc. $ROAD

Key Points

• Peregrine Capital Management trimmed its stake in Construction Partners by 7.1%, selling 8,513 shares and leaving it with 110,751 shares valued at about $12.02 million (≈0.20% ownership).
• Analysts are broadly positive with a consensus "Buy" rating and an average target price of $131.40, following several upgrades and higher price targets from firms including B. Riley and Robert W. Baird.
• Construction Partners reported a strong quarter—EPS of $0.47 beat estimates by $0.16 and revenue rose to $809.47 million, up 44.1% year-over-year.

Peregrine Capital Management LLC trimmed its holdings in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 7.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,751 shares of the company's stock after selling 8,513 shares during the period. Peregrine Capital Management LLC owned approximately 0.20% of Construction Partners worth $12,022,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. TD Waterhouse Canada Inc. purchased a new position in shares of Construction Partners in the third quarter valued at $25,000. AlphaQuest LLC lifted its holdings in Construction Partners by 292.5% during the 3rd quarter. AlphaQuest LLC now owns 208 shares of the company's stock worth $26,000 after purchasing an additional 155 shares in the last quarter. Morse Asset Management Inc boosted its stake in Construction Partners by 300.0% in the 3rd quarter. Morse Asset Management Inc now owns 240 shares of the company's stock worth $30,000 after purchasing an additional 180 shares during the period. Danske Bank A S purchased a new position in Construction Partners during the 3rd quarter valued at about $38,000. Finally, Quarry LP bought a new stake in shares of Construction Partners during the third quarter valued at about $42,000. Institutional investors own 94.83% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ROAD shares. Robert W. Baird set a $142.00 price target on shares of Construction Partners in a report on Friday, February 6th. B. Riley Financial raised shares of Construction Partners from a "neutral" rating to a "buy" rating and upped their target price for the stock from $117.00 to $135.00 in a report on Thursday, April 2nd. Zacks Research raised shares of Construction Partners from a "strong sell" rating to a "strong-buy" rating in a report on Thursday, January 29th. Weiss Ratings upgraded shares of Construction Partners from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday. Finally, DA Davidson upped their price target on shares of Construction Partners from $120.00 to $130.00 and gave the stock a "neutral" rating in a report on Friday, February 6th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $131.40.

Construction Partners Price Performance

Shares of NASDAQ ROAD traded up $2.37 during midday trading on Thursday, hitting $123.38. 17,752 shares of the company's stock were exchanged, compared to its average volume of 539,065. The company has a current ratio of 1.59, a quick ratio of 1.26 and a debt-to-equity ratio of 1.76. The business's fifty day moving average price is $120.85 and its two-hundred day moving average price is $115.81. The company has a market cap of $6.97 billion, a price-to-earnings ratio of 56.29, a PEG ratio of 1.09 and a beta of 0.92. Construction Partners, Inc. has a 12-month low of $77.39 and a 12-month high of $141.90.

Construction Partners (NASDAQ:ROAD - Get Free Report) last announced its earnings results on Thursday, February 5th. The company reported $0.47 earnings per share (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 analyst estimates of $740.14 million. During the same period in the previous year, the business posted $0.25 earnings per share. Construction Partners's revenue for the quarter was up 44.1% on a year-over-year basis. As a group, research analysts forecast that Construction Partners, Inc. will post 2.89 EPS for the current fiscal year.

About Construction Partners

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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