Construction Partners, Inc. (NASDAQ:ROAD - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $96.46 and last traded at $93.04, with a volume of 29372 shares trading hands. The stock had previously closed at $94.46.
Analysts Set New Price Targets
A number of equities analysts recently commented on the stock. Stifel Nicolaus boosted their price objective on shares of 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 increased their target price on shares of Construction Partners from $50.00 to $55.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 13th. Raymond James raised their price target 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. Finally, Robert W. Baird increased their price objective on shares of Construction Partners from $68.00 to $92.00 and gave the company a "neutral" rating in a report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Construction Partners has an average rating of "Moderate Buy" and an average target price of $69.00.
Check Out Our Latest Analysis on Construction Partners
Construction Partners Stock Performance
The company has a quick ratio of 1.30, a current ratio of 1.60 and a debt-to-equity ratio of 0.82. The company has a market cap of $5.05 billion, a PE ratio of 70.94, a P/E/G ratio of 1.18 and a beta of 0.65. The stock's 50 day simple moving average is $73.19 and its two-hundred day simple moving average is $63.19.
Construction Partners (NASDAQ:ROAD - Get Free Report) last issued its quarterly earnings data on Friday, August 9th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.05. Construction Partners had a net margin of 4.01% and a return on equity of 13.34%. The firm had revenue of $517.80 million for the quarter, compared to the consensus estimate of $503.57 million. During the same period last year, the firm posted $0.41 EPS. Construction Partners's quarterly revenue was up 22.7% compared to the same quarter last year. As a group, research analysts anticipate that Construction Partners, Inc. will post 1.33 earnings per share for the current year.
Insiders Place Their Bets
In other news, Director Mark R. Matteson sold 25,408 shares of Construction Partners stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $61.97, for a total value of $1,574,533.76. Following the transaction, the director now directly owns 102,592 shares of the company's stock, valued at $6,357,626.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 18.80% of the stock is owned by insiders.
Institutional Trading of Construction Partners
A number of institutional investors and hedge funds have recently modified their holdings of ROAD. Clearbridge Investments LLC bought a new stake in Construction Partners in the 2nd quarter valued at $20,360,000. Segall Bryant & Hamill LLC bought a new position in shares of Construction Partners in the third quarter valued at $10,377,000. Driehaus Capital Management LLC lifted 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 valued at $31,439,000 after purchasing an additional 137,572 shares during the last quarter. Conestoga Capital Advisors LLC lifted its holdings 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 valued at $228,305,000 after purchasing an additional 120,155 shares during the last quarter. Finally, Engle Capital Management L.P. acquired a new stake in shares of Construction Partners during the second quarter worth $5,742,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.
About Construction Partners
(
Get Free Report)
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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