Construction Partners, Inc. (NASDAQ:ROAD) CAO Sells $240,704.46 in Stock

Construction Partners, Inc. (NASDAQ:ROAD) CAO Todd Keith Andrews sold 2,511 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $95.86, for a total value of $240,704.46. Following the completion of the sale, the chief accounting officer now directly owns 19,339 shares in the company, valued at approximately $1,853,836.54. This represents a 11.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Construction Partners Stock Down 6.7 %

NASDAQ ROAD opened at $89.43 on Thursday. The stock has a 50 day moving average price of $89.22 and a 200-day moving average price of $70.84. Construction Partners, Inc. has a one year low of $39.79 and a one year high of $103.69. The company has a market capitalization of $5.00 billion, a P/E ratio of 67.75, a P/E/G ratio of 1.15 and a beta of 0.70. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.26 and a current ratio of 1.54.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings results on Thursday, November 21st. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.01). Construction Partners had a net margin of 3.78% and a return on equity of 12.90%. The firm had revenue of $538.16 million for the quarter, compared to the consensus estimate of $538.04 million. During the same quarter in the previous year, the company posted $0.59 earnings per share. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. As a group, equities analysts predict that Construction Partners, Inc. will post 1.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird boosted their target price on Construction Partners from $68.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Three research 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.com, the company presently has an average rating of “Moderate Buy” and an average price target of $69.00.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Clearbridge Investments LLC acquired a new position in shares of Construction Partners during the 2nd quarter worth about $20,360,000. Fred Alger Management LLC purchased a new stake in shares of Construction Partners in the third quarter valued at approximately $16,535,000. Segall Bryant & Hamill LLC acquired a new stake in shares of Construction Partners in the third quarter valued at approximately $10,377,000. Driehaus Capital Management LLC lifted its position in Construction Partners by 31.9% during the second quarter. Driehaus Capital Management LLC now owns 569,440 shares of the company’s stock worth $31,439,000 after buying an additional 137,572 shares in the last quarter. Finally, Conestoga Capital Advisors LLC boosted its stake in 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 buying an additional 120,155 shares during the last quarter. 94.83% of the stock is owned by institutional investors and hedge funds.

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.