Insider Selling: Construction Partners, Inc. (NASDAQ:ROAD) Director Sells 46,596 Shares of Stock

Construction Partners, Inc. (NASDAQ:ROAD) 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. This represents a 18.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Construction Partners Trading Up 2.6 %

Shares of Construction Partners stock opened at $101.86 on Monday. The firm has a market capitalization of $5.69 billion, a PE ratio of 77.17, a P/E/G ratio of 1.21 and a beta of 0.70. Construction Partners, Inc. has a twelve month low of $39.79 and a twelve month high of $103.69. The firm’s 50-day moving average price is $85.01 and its 200 day moving average price is $68.92. The company has a current ratio of 1.54, a quick ratio of 1.26 and a debt-to-equity ratio of 0.85.

Construction Partners (NASDAQ:ROAD) last released 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). The business had revenue of $538.16 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.59 EPS. On average, sell-side analysts predict that Construction Partners, Inc. will post 1.96 EPS for the current fiscal year.

Institutional Trading of Construction Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in ROAD. Ninepoint Partners LP acquired a new stake in Construction Partners in the 2nd quarter valued at approximately $954,000. Segall Bryant & Hamill LLC acquired a new stake in Construction Partners in the 3rd quarter valued at approximately $10,377,000. Engle Capital Management L.P. acquired a new stake in Construction Partners in the 2nd quarter valued at approximately $5,742,000. Allspring Global Investments Holdings LLC increased its holdings in Construction Partners by 47.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 207,422 shares of the company’s stock valued at $14,478,000 after purchasing an additional 67,150 shares during the last quarter. Finally, Westover Capital Advisors LLC purchased a new position in Construction Partners in the 2nd quarter valued at approximately $674,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ROAD shares. DA Davidson upped their price target on Construction Partners from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Stifel Nicolaus upped their price target on Construction Partners from $61.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Raymond James upped their price target 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. Finally, Robert W. Baird upped their price target 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 investment 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 company. According to MarketBeat.com, Construction Partners has a consensus rating of “Moderate Buy” and an average target price of $69.00.

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.