Construction Partners (NASDAQ:ROAD) Hits New 12-Month High at $66.81

Construction Partners, Inc. (NASDAQ:ROAD)’s share price hit a new 52-week high on Monday . The stock traded as high as $66.81 and last traded at $66.72, with a volume of 100942 shares. The stock had previously closed at $65.09.

Analyst Upgrades and Downgrades

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

Construction Partners Price Performance

The company has a debt-to-equity ratio of 0.82, a current ratio of 1.60 and a quick ratio of 1.30. The firm has a market capitalization of $3.77 billion, a P/E ratio of 61.06, a PEG ratio of 1.43 and a beta of 0.67. The company’s 50 day moving average price is $60.90 and its 200 day moving average price is $56.93.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings data on Friday, August 9th. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. The firm had revenue of $517.80 million for the quarter, compared to analyst estimates of $503.57 million. Construction Partners had a return on equity of 13.34% and a net margin of 4.01%. The business’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same period last year, the company earned $0.41 EPS. As a group, sell-side analysts anticipate that Construction Partners, Inc. will post 1.43 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Mark R. Matteson sold 25,408 shares of Construction Partners stock in a transaction that occurred on Thursday, August 22nd. The shares were 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 owns 102,592 shares in the company, valued at approximately $6,357,626.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 18.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Covestor Ltd boosted its stake in Construction Partners by 17,700.0% during the 1st quarter. Covestor Ltd now owns 534 shares of the company’s stock worth $30,000 after acquiring an additional 531 shares during the last quarter. ICA Group Wealth Management LLC bought a new position in shares of Construction Partners during the fourth quarter worth $30,000. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Construction Partners by 244.4% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,178 shares of the company’s stock valued at $66,000 after buying an additional 836 shares during the period. YHB Investment Advisors Inc. bought a new stake in shares of Construction Partners in the 1st quarter valued at $116,000. Finally, nVerses Capital LLC bought a new stake in shares of Construction Partners in the 2nd quarter valued at $116,000. 94.83% of the stock is currently owned by institutional investors.

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.