Raymond James Has Lowered Expectations for Construction Partners (NASDAQ:ROAD) Stock Price

Construction Partners (NASDAQ:ROAD) had its price target decreased by analysts at Raymond James from $112.00 to $104.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “strong-buy” rating on the stock. Raymond James’ price objective indicates a potential upside of 12.95% from the company’s previous close.

Separately, Robert W. Baird lifted their price target on shares of Construction Partners from $68.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Three 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 stock. According to data from MarketBeat.com, Construction Partners presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.40.

Construction Partners Price Performance

ROAD stock traded up $0.56 on Thursday, reaching $92.08. The company had a trading volume of 82,781 shares, compared to its average volume of 402,025. The company’s fifty day moving average is $93.74 and its 200 day moving average is $75.57. The company has a market cap of $5.15 billion, a P/E ratio of 69.76, a PEG ratio of 1.05 and a beta of 0.75. 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 has a 1 year low of $40.85 and a 1 year high of $103.69.

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 during the quarter, compared to analysts’ expectations of $538.04 million. Construction Partners had a net margin of 3.78% and a return on equity of 12.90%. The firm’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.59 earnings per share. On average, research analysts forecast that Construction Partners will post 1.96 earnings per share for the current year.

Insider Buying and Selling

In other Construction Partners news, CAO Todd Keith Andrews sold 2,511 shares of Construction Partners stock in a transaction on Monday, December 16th. The shares were sold at an average price of $95.86, for a total value of $240,704.46. Following the transaction, the chief accounting officer now owns 19,339 shares in the company, valued at $1,853,836.54. This trade represents a 11.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Charles E. Owens sold 46,596 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $101.33, for a total value of $4,721,572.68. Following the sale, the director now owns 203,404 shares of the company’s stock, valued at approximately $20,610,927.32. The trade was a 18.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 139,225 shares of company stock worth $13,904,358. 18.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ROAD. USA Financial Formulas purchased a new position in shares of Construction Partners in the 4th quarter worth about $31,000. GAMMA Investing LLC raised its holdings in Construction Partners by 24.4% in the third quarter. GAMMA Investing LLC now owns 873 shares of the company’s stock valued at $61,000 after buying an additional 171 shares during the period. KBC Group NV lifted its position in Construction Partners by 35.0% during the third quarter. KBC Group NV now owns 1,417 shares of the company’s stock valued at $99,000 after buying an additional 367 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in Construction Partners by 55.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,831 shares of the company’s stock valued at $101,000 after buying an additional 653 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado purchased a new stake in Construction Partners during the second quarter worth approximately $162,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

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.