Construction Partners (NASDAQ:ROAD) Shares Gap Up - What's Next?

Construction Partners, Inc. (NASDAQ:ROAD - Get Free Report)'s share price gapped up before the market opened on Friday . The stock had previously closed at $84.47, but opened at $91.59. Construction Partners shares last traded at $90.90, with a volume of 430,215 shares traded.

Analyst Ratings Changes

A number of brokerages have weighed in on ROAD. Raymond James dropped their price target on shares of Construction Partners from $112.00 to $104.00 and set a "strong-buy" rating for the company in a research report on Thursday, January 16th. Robert W. Baird raised their price objective on shares of Construction Partners from $100.00 to $102.00 and gave the company a "neutral" rating in a research note on Monday. Finally, DA Davidson reissued a "neutral" rating and issued a $95.00 price objective on shares of Construction Partners in a research note on Thursday, January 30th. Three 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 stock. According to MarketBeat, Construction Partners has an average rating of "Moderate Buy" and a consensus price target of $85.40.

Construction Partners Trading Down 0.5 %

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 business's fifty day simple moving average is $89.65 and its two-hundred day simple moving average is $79.18. The company has a market cap of $4.54 billion, a price-to-earnings ratio of 61.48, a PEG ratio of 1.25 and a beta of 0.74.

Construction Partners (NASDAQ:ROAD - Get Free Report) last announced its earnings results on Thursday, November 21st. The company reported $0.56 EPS for the quarter, missing analysts' consensus estimates of $0.57 by ($0.01). The business had revenue of $538.16 million during 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 business's revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.59 earnings per share. On average, equities analysts predict that Construction Partners, Inc. will post 1.95 EPS for the current year.

Insider Buying and Selling at Construction Partners

In other Construction Partners news, Director Charles E. Owens sold 46,596 shares of the business's stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $101.33, for a total transaction of $4,721,572.68. Following the sale, the director now directly owns 203,404 shares in the company, valued at approximately $20,610,927.32. The trade was a 18.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Todd Keith Andrews sold 2,511 shares of the business's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $95.86, for a total transaction of $240,704.46. Following the completion of the sale, the chief accounting officer now owns 19,339 shares in the company, valued at $1,853,836.54. This represents a 11.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 139,225 shares of company stock valued at $13,904,358. 16.36% of the stock is owned by company insiders.

Institutional Investors Weigh In On Construction Partners

Several institutional investors and hedge funds have recently made changes to their positions in ROAD. Byrne Asset Management LLC increased its stake in shares of Construction Partners by 33.3% during the 4th quarter. Byrne Asset Management LLC now owns 533 shares of the company's stock valued at $47,000 after acquiring an additional 133 shares during the last quarter. Allworth Financial LP grew its position in Construction Partners by 15.0% in the fourth quarter. Allworth Financial LP now owns 1,228 shares of the company's stock valued at $114,000 after acquiring an additional 160 shares in the last quarter. GAMMA Investing LLC grew its position in Construction Partners by 24.4% in the third quarter. GAMMA Investing LLC now owns 873 shares of the company's stock valued at $61,000 after acquiring an additional 171 shares in the last quarter. USA Financial Formulas acquired a new stake in Construction Partners in the fourth quarter valued at approximately $31,000. Finally, HighTower Advisors LLC boosted its stake in shares of Construction Partners by 1.2% during the 4th quarter. HighTower Advisors LLC now owns 29,531 shares of the company's stock valued at $2,612,000 after buying an additional 350 shares during the last quarter. 94.83% of the stock is currently owned by hedge funds and other 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.