Construction Partners' (ROAD) Neutral Rating Reaffirmed at DA Davidson

Construction Partners (NASDAQ:ROAD - Get Free Report)'s stock had its "neutral" rating reaffirmed by DA Davidson in a note issued to investors on Thursday,Benzinga reports. They currently have a $95.00 price target on the stock. DA Davidson's target price would indicate a potential upside of 19.02% from the stock's current price.

A number of other equities research analysts have also recently issued reports on ROAD. Raymond James reduced their price objective on Construction Partners from $112.00 to $104.00 and set a "strong-buy" rating for the company in a report on Thursday, January 16th. Robert W. Baird lifted their price target on Construction Partners from $68.00 to $92.00 and gave the stock a "neutral" rating in a 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $83.40.

Construction Partners Stock Performance

Shares of NASDAQ ROAD traded down $0.58 during midday trading on Thursday, hitting $79.82. 366,139 shares of the company's stock were exchanged, compared to its average volume of 601,213. The company has a quick ratio of 1.26, a current ratio of 1.54 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $4.46 billion, a PE ratio of 60.47, a price-to-earnings-growth ratio of 0.99 and a beta of 0.74. Construction Partners has a 12 month low of $44.77 and a 12 month high of $103.69. The company's 50 day moving average price is $91.84 and its 200 day moving average price is $78.23.

Construction Partners (NASDAQ:ROAD - Get Free Report) last released its quarterly earnings data on Thursday, November 21st. The company reported $0.56 EPS for the quarter, missing analysts' consensus estimates of $0.57 by ($0.01). The company 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% compared to the same quarter last year. During the same period last year, the firm earned $0.59 earnings per share. As a group, analysts predict that Construction Partners will post 1.95 earnings per share for the current fiscal year.

Insider Activity

In other Construction Partners news, CAO Todd Keith Andrews sold 2,511 shares of Construction Partners stock in a transaction on Monday, December 16th. The stock was sold at an average price of $95.86, for a total value of $240,704.46. Following the completion of the transaction, the chief accounting officer now directly owns 19,339 shares of the company's stock, valued at $1,853,836.54. The trade was a 11.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles E. Owens sold 49,695 shares of the stock in a transaction 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 directly owns 130,291 shares in the company, valued at approximately $13,134,635.71. This trade represents a 27.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 139,225 shares of company stock worth $13,904,358. Corporate insiders own 16.36% of the company's stock.

Institutional Trading of Construction Partners

Institutional investors and hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its position in shares of Construction Partners by 197.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 616,032 shares of the company's stock worth $54,104,000 after buying an additional 408,610 shares during the last quarter. Clearbridge Investments LLC bought a new position in shares of Construction Partners in the second quarter worth about $20,360,000. Fred Alger Management LLC acquired a new stake in shares of Construction Partners in the 3rd quarter valued at approximately $16,535,000. Artemis Investment Management LLP bought a new stake in shares of Construction Partners during the 4th quarter valued at approximately $18,893,000. Finally, Segall Bryant & Hamill LLC bought a new stake in shares of Construction Partners during the 3rd quarter valued at approximately $10,377,000. Institutional investors own 94.83% of the company's stock.

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.