Construction Partners, Inc. (NASDAQ:ROAD) Director Sells $4,721,572.68 in Stock

Construction Partners, Inc. (NASDAQ:ROAD) Director Charles E. Owens sold 46,596 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $101.33, for a total value of $4,721,572.68. Following the transaction, the director now directly owns 203,404 shares of the company’s stock, valued at approximately $20,610,927.32. This trade represents a 18.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Construction Partners Trading Up 2.6 %

Shares of ROAD stock opened at $101.86 on Monday. Construction Partners, Inc. has a 12-month low of $39.79 and a 12-month high of $103.69. The company has a current ratio of 1.54, a quick ratio of 1.26 and a debt-to-equity ratio of 0.85. The stock’s 50-day moving average price is $85.01 and its 200-day moving average price is $68.92. The stock has a market capitalization of $5.69 billion, a price-to-earnings ratio of 77.17, a price-to-earnings-growth ratio of 1.21 and a beta of 0.70.

Construction Partners (NASDAQ:ROAD) last issued its earnings results on Thursday, November 21st. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.01). Construction Partners had a return on equity of 12.90% and a net margin of 3.78%. The firm had revenue of $538.16 million during the quarter, compared to the consensus estimate of $538.04 million. During the same period last year, the firm posted $0.59 earnings per share. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. Equities research analysts predict that Construction Partners, Inc. will post 1.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. GAMMA Investing LLC boosted its position in shares of Construction Partners by 24.4% during the third quarter. GAMMA Investing LLC now owns 873 shares of the company’s stock valued at $61,000 after buying an additional 171 shares during the period. KBC Group NV boosted its position in shares of Construction Partners by 35.0% during the third quarter. KBC Group NV now owns 1,417 shares of the company’s stock valued at $99,000 after buying an additional 367 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in shares of Construction Partners by 55.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,831 shares of the company’s stock valued at $101,000 after buying an additional 653 shares during the period. nVerses Capital LLC purchased a new position in shares of Construction Partners during the second quarter valued at approximately $116,000. Finally, Public Employees Retirement Association of Colorado purchased a new position in shares of Construction Partners during the second quarter valued at approximately $162,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on ROAD. Robert W. Baird raised their price objective on Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. DA Davidson lifted their target price on Construction Partners from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Raymond James lifted their target price on Construction Partners from $69.00 to $72.00 and gave the stock a “strong-buy” rating in a report on Monday, August 12th. Finally, Stifel Nicolaus lifted their target price on Construction Partners from $61.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $69.00.

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.