Construction Partners, Inc. (NASDAQ:ROAD) SVP Sells $566,460.00 in Stock

Construction Partners, Inc. (NASDAQ:ROAD - Get Free Report) SVP John L. Harper sold 6,000 shares of the business's stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $94.41, for a total value of $566,460.00. Following the transaction, the senior vice president now directly owns 154,856 shares in the company, valued at $14,619,954.96. The trade was a 3.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Construction Partners Price Performance

Shares of NASDAQ ROAD traded up $0.59 during mid-day trading on Tuesday, reaching $95.90. The company had a trading volume of 653,157 shares, compared to its average volume of 366,758. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.26 and a current ratio of 1.54. Construction Partners, Inc. has a one year low of $39.79 and a one year high of $103.69. The firm has a market cap of $5.36 billion, a price-to-earnings ratio of 72.65, a PEG ratio of 1.15 and a beta of 0.70. The business's 50-day simple moving average is $88.34 and its 200 day simple moving average is $70.44.

Construction Partners (NASDAQ:ROAD - Get Free Report) last announced its quarterly earnings data on Thursday, November 21st. The company reported $0.56 EPS for the quarter, missing the consensus estimate 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 net margin of 3.78% and a return on equity of 12.90%. The firm's revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 earnings per share. On average, research analysts predict that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird lifted their price objective 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 investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Construction Partners has a consensus rating of "Moderate Buy" and an average price target of $69.00.

Institutional Trading of Construction Partners

Several institutional investors and hedge funds have recently modified their holdings of ROAD. EFG Asset Management North America Corp. raised its stake in Construction Partners by 13.1% during the second quarter. EFG Asset Management North America Corp. now owns 47,569 shares of the company's stock worth $2,624,000 after acquiring an additional 5,499 shares in the last quarter. Conestoga Capital Advisors LLC increased its position in Construction Partners by 3.0% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 4,135,202 shares of the company's stock worth $228,305,000 after purchasing an additional 120,155 shares in the last quarter. Commonwealth Equity Services LLC bought a new position in Construction Partners in the 2nd quarter valued at approximately $342,000. nVerses Capital LLC acquired a new stake in Construction Partners in the second quarter valued at approximately $116,000. Finally, Convergence Investment Partners LLC bought a new stake in shares of Construction Partners during the second quarter worth $514,000. 94.83% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.