Construction Partners (NASDAQ:ROAD) Price Target Lowered to $104.00 at Raymond James

Construction Partners (NASDAQ:ROAD - Free Report) had its price objective cut by Raymond James from $112.00 to $104.00 in a report published on Thursday,Benzinga reports. They currently have a strong-buy rating on the stock.

Separately, Robert W. Baird lifted their target price on shares of Construction Partners from $68.00 to $92.00 and gave the company a "neutral" rating in a research note on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $75.40.

Construction Partners Price Performance

Shares of NASDAQ ROAD traded down $0.98 during midday trading on Thursday, reaching $90.23. 734,935 shares of the company traded hands, compared to its average volume of 448,903. Construction Partners has a 12 month low of $40.85 and a 12 month high of $103.69. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.26 and a current ratio of 1.54. The stock's 50-day simple moving average is $93.71 and its 200-day simple moving average is $75.68. The firm has a market cap of $5.04 billion, a PE ratio of 68.36, a PEG ratio of 1.05 and a beta of 0.75.

Construction Partners (NASDAQ:ROAD - Get Free Report) last announced its earnings results on Thursday, November 21st. The company reported $0.56 earnings per share (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% compared to the same quarter last year. During the same quarter last year, the business earned $0.59 EPS. As a group, equities analysts anticipate that Construction Partners will post 1.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Charles E. Owens sold 46,596 shares of the business's stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $101.33, for a total transaction of $4,721,572.68. Following the completion of the sale, the director now owns 203,404 shares in the company, valued at $20,610,927.32. The trade was a 18.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Todd Keith Andrews sold 2,511 shares of the company's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $95.86, for a total value of $240,704.46. Following the transaction, the chief accounting officer now directly owns 19,339 shares in the company, valued at $1,853,836.54. This trade represents a 11.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 139,225 shares of company stock valued at $13,904,358 in the last 90 days. 18.80% of the stock is currently owned by insiders.

Institutional Trading of Construction Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in ROAD. State Street Corp grew its position in shares of Construction Partners by 2.7% during the 3rd quarter. State Street Corp now owns 1,004,867 shares of the company's stock worth $70,140,000 after buying an additional 26,189 shares during the period. Dimensional Fund Advisors LP boosted its stake in Construction Partners by 2.6% in the second quarter. Dimensional Fund Advisors LP now owns 972,400 shares of the company's stock valued at $53,687,000 after acquiring an additional 24,828 shares during the last quarter. Driehaus Capital Management LLC grew its holdings in Construction Partners by 31.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 569,440 shares of the company's stock worth $31,439,000 after acquiring an additional 137,572 shares during the period. Hood River Capital Management LLC grew its holdings in Construction Partners by 16.1% during the 2nd quarter. Hood River Capital Management LLC now owns 476,021 shares of the company's stock worth $26,281,000 after acquiring an additional 66,021 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Construction Partners by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 453,212 shares of the company's stock valued at $31,634,000 after acquiring an additional 4,009 shares during the last quarter. 94.83% of the stock is owned by institutional investors.

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.