Mark R. Matteson Sells 25,408 Shares of Construction Partners, Inc. (NASDAQ:ROAD) Stock

Construction Partners, Inc. (NASDAQ:ROAD) Director Mark R. Matteson sold 25,408 shares of Construction Partners stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $61.97, for a total transaction of $1,574,533.76. Following the completion of the sale, the director now directly owns 102,592 shares in the company, valued at approximately $6,357,626.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Construction Partners Price Performance

ROAD opened at $64.19 on Thursday. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of 54.86, a PEG ratio of 1.39 and a beta of 0.66. The company has a quick ratio of 1.30, a current ratio of 1.60 and a debt-to-equity ratio of 0.82. The firm has a 50-day moving average price of $58.74 and a 200-day moving average price of $55.33. Construction Partners, Inc. has a twelve month low of $33.24 and a twelve month high of $66.78.

Construction Partners (NASDAQ:ROAD) last posted its earnings results on Friday, August 9th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.05. The firm had revenue of $517.80 million during the quarter, compared to the consensus estimate of $503.57 million. Construction Partners had a net margin of 4.01% and a return on equity of 13.34%. The company’s revenue was up 22.7% on a year-over-year basis. During the same quarter last year, the company earned $0.41 earnings per share. Equities analysts expect that Construction Partners, Inc. will post 1.44 EPS for the current year.

Hedge Funds Weigh In On Construction Partners

Several hedge funds have recently bought and sold shares of the company. Conestoga Capital Advisors LLC grew its stake in Construction Partners by 3.0% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 4,135,202 shares of the company’s stock worth $228,305,000 after buying an additional 120,155 shares in the last quarter. Geneva Capital Management LLC raised its holdings in Construction Partners by 8.5% during the 1st quarter. Geneva Capital Management LLC now owns 3,408,788 shares of the company’s stock valued at $191,403,000 after buying an additional 268,225 shares during the last quarter. Vanguard Group Inc. raised its holdings in Construction Partners by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 2,415,461 shares of the company’s stock valued at $135,628,000 after buying an additional 69,223 shares during the last quarter. Wasatch Advisors LP raised its holdings in Construction Partners by 188.3% during the 1st quarter. Wasatch Advisors LP now owns 1,692,328 shares of the company’s stock valued at $95,024,000 after buying an additional 1,105,423 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Construction Partners by 2.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 972,400 shares of the company’s stock worth $53,687,000 after purchasing an additional 24,828 shares in the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Analysts Set New Price Targets

ROAD has been the topic of several research reports. Robert W. Baird lifted their price objective on shares of Construction Partners from $50.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, May 13th. DA Davidson lifted their price objective on shares of Construction Partners from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Stifel Nicolaus lifted their price objective on shares of Construction Partners from $61.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, Raymond James lifted their target price on shares of Construction Partners from $69.00 to $72.00 and gave the stock a “strong-buy” rating in a research note on Monday, August 12th. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.67.

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.