Construction Partners (NASDAQ:ROAD – Get Free Report)‘s stock had its “neutral” rating restated by research analysts at DA Davidson in a research note issued to investors on Thursday,Benzinga reports. They currently have a $95.00 target price on the stock. DA Davidson’s target price points to a potential upside of 18.60% from the company’s previous close.
Other analysts also recently issued reports about the company. Raymond James cut their target price on Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating for the company in a research report on Thursday, January 16th. Robert W. Baird upped their target price on Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Three research 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $83.40.
View Our Latest Report on ROAD
Construction Partners Stock Performance
Construction Partners (NASDAQ:ROAD – Get Free Report) last issued its quarterly earnings data on Thursday, November 21st. The company reported $0.56 EPS 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 analyst estimates of $538.04 million. During the same period in the prior year, the company earned $0.59 earnings per share. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. On average, equities research analysts anticipate that Construction Partners will post 1.95 EPS for the current year.
Insider Activity
In other news, CAO Todd Keith Andrews sold 2,511 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles E. Owens sold 49,695 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 130,291 shares in the company, valued at $13,134,635.71. This represents a 27.61 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 139,225 shares of company stock valued at $13,904,358. Company insiders own 18.80% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of ROAD. Allspring Global Investments Holdings LLC lifted its holdings in Construction Partners by 197.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 616,032 shares of the company’s stock worth $54,104,000 after acquiring an additional 408,610 shares during the period. Clearbridge Investments LLC bought a new stake in Construction Partners during the second quarter worth $20,360,000. Fred Alger Management LLC bought a new stake in Construction Partners during the third quarter worth $16,535,000. Artemis Investment Management LLP bought a new stake in Construction Partners during the fourth quarter worth $18,893,000. Finally, Segall Bryant & Hamill LLC bought a new stake in Construction Partners during the third quarter worth $10,377,000. Institutional investors own 94.83% of the company’s stock.
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.
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