Construction Partners (NASDAQ:ROAD) Stock Price Down 6.1% on Insider Selling

Construction Partners, Inc. (NASDAQ:ROAD) shares dropped 6.1% during mid-day trading on Monday following insider selling activity. The stock traded as low as $95.45 and last traded at $95.64. Approximately 143,940 shares changed hands during trading, a decline of 60% from the average daily volume of 362,604 shares. The stock had previously closed at $101.86.

Specifically, Director Charles E. Owens sold 49,695 shares of the firm’s 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 sale, 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 this hyperlink. Also, 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 transaction of $4,721,572.68. Following the completion of the sale, the director now 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 ownership of the stock. The disclosure for this sale can be found here.

Analysts Set New Price Targets

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

Construction Partners Stock Performance

The company has a quick ratio of 1.26, a current ratio of 1.54 and a debt-to-equity ratio of 0.85. The firm has a 50-day moving average price of $85.01 and a two-hundred day moving average price of $68.92. The firm has a market cap of $5.34 billion, a PE ratio of 77.16, a P/E/G ratio of 1.22 and a beta of 0.70.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings data on Thursday, November 21st. The company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). Construction Partners had a net margin of 3.78% and a return on equity of 12.90%. The firm had revenue of $538.16 million during the quarter, compared to analysts’ expectations of $538.04 million. During the same quarter in the previous year, the business posted $0.59 EPS. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. Research analysts forecast that Construction Partners, Inc. will post 1.96 EPS for the current fiscal year.

Hedge Funds Weigh In On Construction Partners

A number of institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC grew its holdings in Construction Partners by 24.4% in the 3rd quarter. GAMMA Investing LLC now owns 873 shares of the company’s stock valued at $61,000 after buying an additional 171 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Construction Partners by 2.1% in the second quarter. Arizona State Retirement System now owns 12,270 shares of the company’s stock valued at $677,000 after purchasing an additional 257 shares during the period. KBC Group NV boosted its holdings in Construction Partners by 35.0% in the 3rd quarter. KBC Group NV now owns 1,417 shares of the company’s stock valued at $99,000 after purchasing an additional 367 shares during the last quarter. nVerses Capital LLC grew its stake in shares of Construction Partners by 19.0% in the 3rd quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock valued at $174,000 after buying an additional 400 shares during the period. Finally, Benjamin Edwards Inc. raised its position in shares of Construction Partners by 8.7% during the 3rd quarter. Benjamin Edwards Inc. now owns 7,419 shares of the company’s stock valued at $518,000 after buying an additional 594 shares during the period. 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.