Construction Partners, Inc. (NASDAQ:ROAD) Director Sells $5,009,752.95 in Stock

Construction Partners, Inc. (NASDAQ:ROAD) Director Charles E. Owens sold 49,695 shares of Construction Partners stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $100.81, for a total value of $5,009,752.95. Following the transaction, the director now directly owns 130,291 shares in the company, valued at approximately $13,134,635.71. This trade represents a 27.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Construction Partners Stock Up 2.6 %

ROAD opened at $101.86 on Monday. The business has a 50 day moving average price of $85.01 and a 200 day moving average price of $68.92. Construction Partners, Inc. has a twelve month low of $39.79 and a twelve month high of $103.69. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.26 and a current ratio of 1.54. The firm has a market cap of $5.69 billion, a P/E ratio of 77.17, a price-to-earnings-growth ratio of 1.21 and a beta of 0.70.

Construction Partners (NASDAQ:ROAD) last posted its earnings results on Thursday, November 21st. The company reported $0.56 earnings per share 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 company had revenue of $538.16 million during the quarter, compared to analyst estimates of $538.04 million. During the same quarter last year, the firm posted $0.59 earnings per share. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. Research analysts forecast that Construction Partners, Inc. will post 1.96 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on ROAD. Stifel Nicolaus lifted their target price on Construction Partners from $61.00 to $67.00 and gave the company a “buy” rating in a research note on Monday, August 12th. DA Davidson boosted their price target on Construction Partners from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Robert W. Baird boosted their price target on Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Raymond James boosted their price target on Construction Partners from $69.00 to $72.00 and gave the company a “strong-buy” rating in a research note on Monday, August 12th. Three investment 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $69.00.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ROAD. GAMMA Investing LLC lifted its holdings in shares of Construction Partners by 24.4% during the third quarter. GAMMA Investing LLC now owns 873 shares of the company’s stock worth $61,000 after buying an additional 171 shares during the last quarter. KBC Group NV lifted its holdings 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 worth $99,000 after buying an additional 367 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings 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 worth $101,000 after buying an additional 653 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of Construction Partners during the second quarter worth approximately $116,000. Finally, Public Employees Retirement Association of Colorado acquired a new position in shares of Construction Partners in the second quarter valued at $162,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

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.