Construction Partners, Inc. (NASDAQ:ROAD) Short Interest Update

Construction Partners, Inc. (NASDAQ:ROAD) was the target of a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 2,400,000 shares, an increase of 22.4% from the November 15th total of 1,960,000 shares. Based on an average daily trading volume, of 392,600 shares, the short-interest ratio is currently 6.1 days.

Insider Transactions at Construction Partners

In other news, Director Suntx Capital Ii Management Co sold 12,731 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $99.78, for a total value of $1,270,299.18. Following the sale, the director now directly owns 17,000 shares of the company’s stock, valued at approximately $1,696,260. The trade was a 42.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles E. Owens sold 49,695 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $100.81, for a total transaction of $5,009,752.95. Following the completion of the transaction, the director now owns 130,291 shares in the company, valued at approximately $13,134,635.71. This represents a 27.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 125,225 shares of company stock worth $12,593,083 in the last 90 days. Insiders own 18.80% of the company’s stock.

Institutional Investors Weigh In On Construction Partners

Large investors have recently modified their holdings of the company. Conestoga Capital Advisors LLC increased its holdings in Construction Partners by 3.0% in the second quarter. Conestoga Capital Advisors LLC now owns 4,135,202 shares of the company’s stock valued at $228,305,000 after buying an additional 120,155 shares during the last quarter. State Street Corp increased its holdings in shares of Construction Partners by 2.7% in the 3rd quarter. State Street Corp now owns 1,004,867 shares of the company’s stock valued at $70,140,000 after acquiring an additional 26,189 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Construction Partners by 2.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 972,400 shares of the company’s stock worth $53,687,000 after acquiring an additional 24,828 shares in the last quarter. American Century Companies Inc. raised its position in shares of Construction Partners by 8.0% during the 2nd quarter. American Century Companies Inc. now owns 949,123 shares of the company’s stock worth $52,401,000 after acquiring an additional 70,099 shares in the last quarter. Finally, Driehaus Capital Management LLC boosted its holdings in Construction Partners by 31.9% in the second quarter. Driehaus Capital Management LLC now owns 569,440 shares of the company’s stock valued at $31,439,000 after purchasing an additional 137,572 shares in the last quarter. 94.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Robert W. Baird lifted their price objective on Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Three equities research 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $69.00.

Construction Partners Stock Down 1.2 %

NASDAQ:ROAD traded down $1.12 during midday trading on Friday, reaching $94.84. The company had a trading volume of 389,324 shares, compared to its average volume of 404,955. Construction Partners has a 12-month low of $39.79 and a 12-month high of $103.69. The firm has a market capitalization of $5.30 billion, a price-to-earnings ratio of 71.85, a PEG ratio of 1.15 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 stock’s fifty day simple moving average is $87.82 and its 200-day simple moving average is $70.19.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings data on Thursday, November 21st. The company reported $0.56 earnings per share (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 company had revenue of $538.16 million during the quarter, compared to analysts’ expectations of $538.04 million. During the same quarter in the previous year, the business posted $0.59 EPS. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Construction Partners will post 1.96 earnings per share for the current fiscal year.

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.