Construction Partners (NASDAQ:ROAD) Shares Down 6.1% After Insider Selling

Construction Partners, Inc. (NASDAQ:ROAD) shares fell 6.1% on Monday after an insider sold shares in the company. The stock traded as low as $95.45 and last traded at $95.64. 143,940 shares changed hands during trading, a decline of 60% from the average session volume of 362,604 shares. The stock had previously closed at $101.86.

Specifically, Director Charles E. Owens sold 49,695 shares of the business’s stock in a transaction 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 sale, the director now owns 130,291 shares in the company, valued at $13,134,635.71. The trade was a 27.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles E. Owens sold 46,596 shares of Construction Partners stock in a transaction dated 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 completion of the sale, the director now directly owns 203,404 shares in the company, valued at $20,610,927.32. This trade represents a 18.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ROAD shares. Stifel Nicolaus raised their price target on Construction Partners from $61.00 to $67.00 and gave the company a “buy” rating in a report on Monday, August 12th. Raymond James raised their target price on shares of Construction Partners from $69.00 to $72.00 and gave the company a “strong-buy” rating in a report on Monday, August 12th. Robert W. Baird upped their price target on shares of Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Finally, DA Davidson increased their price objective on shares of Construction Partners from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $69.00.

Construction Partners Price Performance

The firm has a market capitalization of $5.43 billion, a P/E ratio of 73.60, a price-to-earnings-growth ratio of 1.22 and a beta of 0.70. The company has a current ratio of 1.54, a quick ratio of 1.26 and a debt-to-equity ratio of 0.85. The firm has a 50 day moving average price of $85.56 and a 200-day moving average price of $69.19.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings data 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). The firm had revenue of $538.16 million for the quarter, compared to the consensus estimate of $538.04 million. Construction Partners had a net margin of 3.78% and a return on equity of 12.90%. The company’s revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.59 EPS. On average, analysts expect that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Institutional Trading of Construction Partners

Several institutional investors have recently added to or reduced their stakes in the company. Cetera Advisors LLC bought a new stake in shares of Construction Partners during the 1st quarter worth approximately $254,000. EFG Asset Management North America Corp. lifted its position in shares of Construction Partners by 13.1% during the second quarter. EFG Asset Management North America Corp. now owns 47,569 shares of the company’s stock worth $2,624,000 after purchasing an additional 5,499 shares during the last quarter. Conestoga Capital Advisors LLC lifted its position in shares of Construction Partners by 3.0% during the second quarter. Conestoga Capital Advisors LLC now owns 4,135,202 shares of the company’s stock worth $228,305,000 after purchasing an additional 120,155 shares during the last quarter. Commonwealth Equity Services LLC purchased a new stake in shares of Construction Partners during the second quarter valued at $342,000. Finally, nVerses Capital LLC bought a new position in shares of Construction Partners in the second quarter worth about $116,000. Institutional investors 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.