Construction Partners (NASDAQ:ROAD) Stock Price Down 4.1% - Time to Sell?

Construction Partners, Inc. (NASDAQ:ROAD - Get Free Report) shares dropped 4.1% during mid-day trading on Monday . The company traded as low as $82.22 and last traded at $83.21. Approximately 97,340 shares were traded during trading, a decline of 84% from the average daily volume of 625,780 shares. The stock had previously closed at $86.76.

Wall Street Analysts Forecast Growth

ROAD has been the topic of a number of analyst reports. Robert W. Baird lifted 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. Raymond James dropped their price objective on shares of Construction Partners from $112.00 to $104.00 and set a "strong-buy" rating on the stock in a research note on Thursday, January 16th. Finally, DA Davidson reiterated a "neutral" rating and set 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 assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $85.40.

Construction Partners Price Performance

The company has a debt-to-equity ratio of 0.85, a current ratio of 1.54 and a quick ratio of 1.26. The firm has a market cap of $4.38 billion, a price-to-earnings ratio of 59.42, a P/E/G ratio of 1.25 and a beta of 0.74. The business's 50-day moving average price is $88.43 and its two-hundred day moving average price is $79.31.

Construction Partners (NASDAQ:ROAD - Get Free Report) last released its quarterly earnings results on Thursday, November 21st. The company reported $0.56 earnings per share for the quarter, missing analysts' consensus estimates of $0.57 by ($0.01). Construction Partners had a return on equity of 12.90% and a net margin of 3.78%. The company had revenue of $538.16 million for the quarter, compared to analyst estimates of $538.04 million. During the same period in the previous year, the business posted $0.59 EPS. The firm's quarterly revenue was up 13.3% compared to the same quarter last year. On average, research analysts forecast that Construction Partners, Inc. will post 1.95 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP John L. Harper sold 6,000 shares of the business's stock in a transaction on Friday, December 13th. The shares were sold at an average price of $94.41, for a total transaction of $566,460.00. Following the completion of the transaction, the senior vice president now owns 154,856 shares of the company's stock, valued at approximately $14,619,954.96. The trade was a 3.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Charles E. Owens sold 46,596 shares of Construction Partners stock in a transaction dated 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 owns 203,404 shares in the company, valued at approximately $20,610,927.32. This represents a 18.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 139,225 shares of company stock valued at $13,904,358 over the last 90 days. 16.36% of the stock is owned by company insiders.

Institutional Investors Weigh In On Construction Partners

Institutional investors and hedge funds have recently bought and sold shares of the business. Sheets Smith Wealth Management acquired a new stake in Construction Partners in the 4th quarter valued at about $632,000. Segall Bryant & Hamill LLC acquired a new stake in Construction Partners in the 3rd quarter valued at about $10,377,000. Allspring Global Investments Holdings LLC lifted its holdings in Construction Partners by 47.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 207,422 shares of the company's stock valued at $14,478,000 after acquiring an additional 67,150 shares during the last quarter. Intech Investment Management LLC acquired a new stake in Construction Partners in the 3rd quarter valued at about $778,000. Finally, Artemis Investment Management LLP acquired a new stake in Construction Partners in the 4th quarter valued at about $18,893,000. 94.83% of the stock is owned by institutional investors and hedge funds.

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.