Construction Partners, Inc. (NASDAQ:ROAD) CAO Todd Keith Andrews Sells 2,511 Shares

Construction Partners, Inc. (NASDAQ:ROAD) CAO Todd Keith Andrews sold 2,511 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $95.86, for a total transaction of $240,704.46. Following the sale, the chief accounting officer now directly owns 19,339 shares in the company, valued at approximately $1,853,836.54. This trade represents a 11.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Construction Partners Stock Performance

ROAD stock traded down $6.47 during mid-day trading on Wednesday, reaching $89.43. 768,947 shares of the stock traded hands, compared to its average volume of 368,407. 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 business has a 50-day moving average of $89.22 and a two-hundred day moving average of $70.84. The firm has a market capitalization of $5.00 billion, a PE ratio of 67.75, a P/E/G ratio of 1.15 and a beta of 0.70. Construction Partners, Inc. has a 52 week low of $39.79 and a 52 week high of $103.69.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings results 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 company 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 company earned $0.59 earnings per share. Construction Partners’s revenue for the quarter was up 13.3% on a year-over-year basis. As a group, equities analysts predict that Construction Partners, Inc. will post 1.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Clearbridge Investments LLC bought a new stake in Construction Partners during the 2nd quarter worth approximately $20,360,000. Fred Alger Management LLC acquired a new position in shares of Construction Partners during the third quarter valued at $16,535,000. Segall Bryant & Hamill LLC bought a new position in Construction Partners in the third quarter valued at about $10,377,000. Driehaus Capital Management LLC raised its holdings in Construction Partners by 31.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 569,440 shares of the company’s stock worth $31,439,000 after purchasing an additional 137,572 shares during the last quarter. Finally, Conestoga Capital Advisors LLC grew its position in shares of Construction Partners by 3.0% during 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 during the period. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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