Construction Partners, Inc. (NASDAQ:ROAD) Sees Significant Growth in Short Interest

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

Construction Partners Price Performance

Construction Partners stock 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. 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 has a 12-month low of $39.79 and a 12-month high of $103.69. The company has a market capitalization of $5.30 billion, a P/E ratio of 71.85, a P/E/G ratio of 1.15 and a beta of 0.70. The firm's fifty day simple moving average is $87.82 and its 200-day simple moving average is $70.19.

Construction Partners (NASDAQ:ROAD - Get Free Report) last released its earnings results on Thursday, November 21st. The company reported $0.56 earnings per share 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 during the quarter, compared to analysts' expectations of $538.04 million. During the same quarter last year, the business earned $0.59 EPS. The business's revenue was up 13.3% compared to the same quarter last year. As a group, equities analysts anticipate that Construction Partners will post 1.96 EPS for the current year.

Insider Activity

In other Construction Partners news, 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 value of $5,009,752.95. Following the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Suntx Capital Ii Management Co sold 12,731 shares of Construction Partners stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $99.78, for a total transaction of $1,270,299.18. Following the transaction, the director now directly owns 17,000 shares of the company's stock, valued at approximately $1,696,260. This trade represents a 42.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 125,225 shares of company stock valued at $12,593,083 in the last ninety days. Insiders own 18.80% of the company's stock.

Institutional Investors Weigh In On Construction Partners

A number of large investors have recently modified their holdings of the business. Franklin Resources Inc. acquired a new position in Construction Partners during the third quarter worth about $273,000. Sanctuary Advisors LLC acquired a new position in shares of Construction Partners during the 3rd quarter worth approximately $288,000. Virtu Financial LLC acquired a new stake in shares of Construction Partners in the third quarter valued at approximately $559,000. Barclays PLC lifted its position in Construction Partners by 109.5% during the third quarter. Barclays PLC now owns 101,463 shares of the company's stock worth $7,082,000 after buying an additional 53,026 shares in the last quarter. Finally, MML Investors Services LLC boosted its stake in Construction Partners by 3.6% during the third quarter. MML Investors Services LLC now owns 32,563 shares of the company's stock worth $2,273,000 after buying an additional 1,130 shares during the last quarter. Hedge funds and other institutional investors own 94.83% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird lifted their price target 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 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. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $69.00.

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.

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