Construction Partners (NASDAQ:ROAD) Hits New 12-Month High – Should You Buy?

Construction Partners, Inc. (NASDAQ:ROAD)’s stock price hit a new 52-week high on Monday . The company traded as high as $96.46 and last traded at $93.04, with a volume of 29372 shares traded. The stock had previously closed at $94.46.

Wall Street Analysts Forecast Growth

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

Construction Partners Price Performance

The stock’s fifty day moving average price is $73.86 and its 200-day moving average price is $63.49. 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 cap of $4.99 billion, a price-to-earnings ratio of 70.01, a price-to-earnings-growth ratio of 1.20 and a beta of 0.65.

Insider Activity

In other news, Director Mark R. Matteson sold 25,408 shares of the business’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 transaction of $1,574,533.76. Following the sale, the director now owns 102,592 shares in the company, valued at $6,357,626.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 18.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Construction Partners by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 2,415,461 shares of the company’s stock valued at $135,628,000 after buying an additional 69,223 shares during the period. Ninepoint Partners LP acquired a new position in Construction Partners in the 2nd quarter valued at approximately $954,000. Engle Capital Management L.P. acquired a new position in Construction Partners in the 2nd quarter valued at approximately $5,742,000. Allspring Global Investments Holdings LLC increased its stake 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 buying an additional 67,150 shares during the period. Finally, Westover Capital Advisors LLC acquired 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.

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.