Charles E. Owens Sells 46,596 Shares of Construction Partners, Inc. (NASDAQ:ROAD) Stock

Construction Partners, Inc. (NASDAQ:ROAD) Director Charles E. Owens sold 46,596 shares of Construction Partners stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $101.33, for a total value of $4,721,572.68. Following the transaction, the director now owns 203,404 shares of the company’s stock, valued at $20,610,927.32. This trade represents a 18.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Construction Partners Stock Performance

Shares of Construction Partners stock opened at $101.86 on Friday. The business’s fifty day simple moving average is $85.01 and its 200 day simple moving average is $68.85. The company has a current ratio of 1.54, a quick ratio of 1.26 and a debt-to-equity ratio of 0.85. Construction Partners, Inc. has a 12 month low of $39.79 and a 12 month high of $103.69. The firm has a market capitalization of $5.69 billion, a P/E ratio of 77.17, a price-to-earnings-growth ratio of 1.21 and a beta of 0.70.

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

Institutional Trading of Construction Partners

Several hedge funds have recently added to or reduced their stakes in ROAD. Conestoga Capital Advisors LLC grew its position in shares of Construction Partners by 3.0% during the 2nd 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 during the period. State Street Corp lifted its stake in Construction Partners by 2.7% in the third quarter. State Street Corp now owns 1,004,867 shares of the company’s stock valued at $70,140,000 after purchasing an additional 26,189 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Construction Partners by 2.6% during the second quarter. Dimensional Fund Advisors LP now owns 972,400 shares of the company’s stock valued at $53,687,000 after purchasing an additional 24,828 shares during the period. American Century Companies Inc. increased its position in Construction Partners by 8.0% in the second quarter. American Century Companies Inc. now owns 949,123 shares of the company’s stock worth $52,401,000 after buying an additional 70,099 shares during the last quarter. Finally, Driehaus Capital Management LLC raised its stake in shares of 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 buying an additional 137,572 shares during the period. Institutional investors own 94.83% of the company’s stock.

Analysts Set New Price Targets

ROAD has been the topic of a number of recent research reports. Robert W. Baird raised their target price on Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. DA Davidson raised their price objective on Construction Partners from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Raymond James lifted their price objective on shares of Construction Partners from $69.00 to $72.00 and gave the stock a “strong-buy” rating in a report on Monday, August 12th. 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 report on Monday, August 12th. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus 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.