Insider Selling: Construction Partners, Inc. (NASDAQ:ROAD) Director Sells 16,203 Shares of Stock

Construction Partners, Inc. (NASDAQ:ROAD) Director Charles E. Owens sold 16,203 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $98.22, for a total transaction of $1,591,458.66. Following the transaction, the director now directly owns 102,610 shares in the company, valued at $10,078,354.20. The trade was a 13.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Construction Partners Stock Performance

NASDAQ ROAD traded up $0.86 on Wednesday, hitting $97.61. 452,095 shares of the company’s stock were exchanged, compared to its average volume of 365,064. The firm’s 50-day moving average price is $86.12 and its two-hundred day moving average price is $69.44. The firm has a market cap of $5.45 billion, a price-to-earnings ratio of 73.30, a P/E/G ratio of 1.22 and a beta of 0.70. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.54 and a quick ratio of 1.26. Construction Partners, Inc. has a fifty-two week low of $39.79 and a fifty-two week high of $103.69.

Construction Partners (NASDAQ:ROAD) last announced 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 return on equity of 12.90% and a net margin of 3.78%. The firm had revenue of $538.16 million for the quarter, compared to analysts’ expectations of $538.04 million. During the same period last year, the firm earned $0.59 EPS. Construction Partners’s revenue was up 13.3% compared to the same quarter last year. On average, research analysts expect that Construction Partners, Inc. will post 1.96 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ROAD. Cetera Advisors LLC acquired a new position 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% in the second quarter. EFG Asset Management North America Corp. now owns 47,569 shares of the company’s stock valued at $2,624,000 after acquiring an additional 5,499 shares in the last quarter. Conestoga Capital Advisors LLC lifted its position in shares of 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 acquiring an additional 120,155 shares in the last quarter. Commonwealth Equity Services LLC acquired a new stake in shares of Construction Partners during the second quarter valued at $342,000. Finally, nVerses Capital LLC purchased a new stake in Construction Partners during the 2nd quarter worth about $116,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on ROAD. Robert W. Baird upped 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. DA Davidson upped their price target on 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 issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $69.00.

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.