Construction Partners, Inc. (NASDAQ:ROAD) CAO Sells $504,109.76 in Stock

Construction Partners, Inc. (NASDAQ:ROAD) CAO Todd Keith Andrews sold 5,489 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $91.84, for a total transaction of $504,109.76. Following the transaction, the chief accounting officer now owns 17,394 shares of the company’s stock, valued at approximately $1,597,464.96. This represents a 23.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Todd Keith Andrews also recently made the following trade(s):

• On Monday, December 16th, Todd Keith Andrews sold 2,511 shares of Construction Partners stock. The stock was sold at an average price of $95.86, for a total transaction of $240,704.46.

Construction Partners Stock Performance

Shares of ROAD stock opened at $90.98 on Tuesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.26 and a current ratio of 1.54. Construction Partners, Inc. has a 52 week low of $39.79 and a 52 week high of $103.69. The company’s 50 day moving average price is $90.35 and its two-hundred day moving average price is $71.70. The company has a market capitalization of $5.08 billion, a P/E ratio of 68.92, a price-to-earnings-growth ratio of 1.15 and a beta of 0.70.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings data 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). The company had revenue of $538.16 million for the quarter, compared to the consensus estimate of $538.04 million. Construction Partners had a return on equity of 12.90% and a net margin of 3.78%. The firm’s revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.59 EPS. On average, analysts expect that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

Institutional Trading of Construction Partners

Hedge funds and other institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. boosted its position in shares of Construction Partners by 4.1% during the third quarter. Principal Financial Group Inc. now owns 40,215 shares of the company’s stock worth $2,807,000 after buying an additional 1,596 shares during the period. Franklin Resources Inc. acquired a new position in Construction Partners during the 3rd quarter worth approximately $273,000. Sanctuary Advisors LLC bought a new position in shares of Construction Partners during the 3rd quarter worth approximately $288,000. Virtu Financial LLC acquired a new stake in shares of Construction Partners in the third quarter valued at approximately $559,000. Finally, Barclays PLC lifted its position in shares of Construction Partners by 109.5% in the third quarter. Barclays PLC now owns 101,463 shares of the company’s stock worth $7,082,000 after purchasing an additional 53,026 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Robert W. Baird upped their price objective on shares of Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $69.00.

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.