Construction Partners, Inc. (NASDAQ:ROAD) Shares Sold by Creative Planning

Creative Planning trimmed its position in Construction Partners, Inc. (NASDAQ:ROAD) by 24.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 5,749 shares of the company’s stock after selling 1,817 shares during the period. Creative Planning’s holdings in Construction Partners were worth $317,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ROAD. Vanguard Group Inc. boosted its holdings in Construction Partners by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 2,346,238 shares of the company’s stock valued at $102,108,000 after purchasing an additional 55,752 shares during the last quarter. Cannon Global Investment Management LLC purchased a new stake in shares of Construction Partners in the 1st quarter valued at approximately $460,000. Wasatch Advisors LP raised its stake in shares of Construction Partners by 188.3% in the 1st quarter. Wasatch Advisors LP now owns 1,692,328 shares of the company’s stock valued at $95,024,000 after acquiring an additional 1,105,423 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake 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 acquiring an additional 836 shares during the period. Finally, Benjamin Edwards Inc. raised its stake in shares of Construction Partners by 39.3% in the 1st quarter. Benjamin Edwards Inc. now owns 6,897 shares of the company’s stock valued at $387,000 after acquiring an additional 1,945 shares during the period. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Construction Partners Stock Performance

Shares of ROAD opened at $75.43 on Friday. The company has a 50-day simple moving average of $66.31 and a 200-day simple moving average of $59.70. The company has a quick ratio of 1.30, a current ratio of 1.60 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $3.98 billion, a PE ratio of 55.87, a P/E/G ratio of 1.35 and a beta of 0.67. Construction Partners, Inc. has a 52-week low of $36.70 and a 52-week high of $76.74.

Construction Partners (NASDAQ:ROAD) last posted its earnings results on Friday, August 9th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.05. Construction Partners had a net margin of 4.01% and a return on equity of 13.34%. The firm had revenue of $517.80 million during the quarter, compared to the consensus estimate of $503.57 million. During the same period last year, the firm posted $0.41 EPS. The firm’s revenue for the quarter was up 22.7% on a year-over-year basis. Equities research analysts predict that Construction Partners, Inc. will post 1.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus upped their target price on shares of Construction Partners from $61.00 to $67.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Raymond James upped their target price on shares of Construction Partners from $69.00 to $72.00 and gave the stock a “strong-buy” rating in a research note on Monday, August 12th. Finally, DA Davidson upped their target price on shares of Construction Partners from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $62.60.

Insiders Place Their Bets

In related news, Director Mark R. Matteson sold 25,408 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $61.97, for a total value of $1,574,533.76. Following the sale, the director now directly owns 102,592 shares of the company’s stock, valued at approximately $6,357,626.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 18.80% of the stock is owned by corporate insiders.

Construction Partners 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.