Construction Partners, Inc. (NASDAQ:ROAD) Director Charles E. Owens Sells 49,695 Shares

Construction Partners, Inc. (NASDAQ:ROAD - Get Free Report) Director Charles E. Owens sold 49,695 shares of the business's stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $100.81, for a total transaction of $5,009,752.95. Following the completion of the sale, the director now owns 130,291 shares of the company's stock, valued at approximately $13,134,635.71. The trade was a 27.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Construction Partners Stock Up 2.6 %

Construction Partners stock traded up $2.54 during midday trading on Friday, hitting $101.86. 399,140 shares of the company were exchanged, compared to its average volume of 363,671. The company has a market cap of $5.69 billion, a PE ratio of 75.24, a price-to-earnings-growth ratio of 1.20 and a beta of 0.70. Construction Partners, Inc. has a fifty-two week low of $39.79 and a fifty-two week high of $103.69. The company's fifty day moving average price is $84.37 and its 200-day moving average price is $68.46. 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 (NASDAQ:ROAD - Get Free Report) last posted 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 firm had revenue of $538.16 million for the quarter, compared to analyst estimates 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 period in the previous year, the firm posted $0.59 earnings per share. On average, research analysts predict that Construction Partners, Inc. will post 1.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ROAD. Raymond James boosted their price objective 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. Stifel Nicolaus upped their price target on Construction Partners from $61.00 to $67.00 and gave the stock a "buy" rating in a research note on Monday, August 12th. DA Davidson lifted 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. Finally, Robert W. Baird increased their target price on shares of Construction Partners from $68.00 to $92.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Construction Partners currently has a consensus rating of "Moderate Buy" and a consensus target price of $69.00.

Institutional Trading of Construction Partners

Several large investors have recently modified their holdings of the business. Ninepoint Partners LP purchased a new stake in Construction Partners during the 2nd quarter worth approximately $954,000. Segall Bryant & Hamill LLC bought a new position in Construction Partners during the 3rd quarter valued at $10,377,000. Engle Capital Management L.P. acquired a new position in Construction Partners during the 2nd quarter worth $5,742,000. Allspring Global Investments Holdings LLC grew its holdings in Construction Partners by 47.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 207,422 shares of the company's stock worth $14,478,000 after acquiring an additional 67,150 shares in the last quarter. Finally, Westover Capital Advisors LLC bought a new stake in shares of Construction Partners in the 2nd quarter worth about $674,000. 94.83% of the stock is currently 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.

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