Insider Selling: Construction Partners, Inc. (NASDAQ:ROAD) Director Sells 46,596 Shares of Stock

Construction Partners, Inc. (NASDAQ:ROAD - Get Free Report) Director Charles E. Owens sold 46,596 shares of the business's 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 completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Construction Partners Stock Up 2.6 %

Construction Partners stock traded up $2.54 during trading hours on Friday, hitting $101.86. 399,140 shares of the stock traded hands, compared to its average volume of 363,671. Construction Partners, Inc. has a one year low of $39.79 and a one year high of $103.69. The firm's 50-day moving average price is $84.37 and its two-hundred day moving average price is $68.46. The company has a current ratio of 1.54, a quick ratio of 1.26 and a debt-to-equity ratio of 0.85. The company has a market cap of $5.69 billion, a PE ratio of 77.17, a PEG ratio of 1.20 and a beta of 0.70.

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 the consensus estimate of $0.57 by ($0.01). The firm had revenue of $538.16 million for the quarter, compared to the consensus estimate of $538.04 million. Construction Partners had a net margin of 3.78% and a return on equity of 12.90%. The company's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.59 earnings per share. On average, research analysts forecast that Construction Partners, Inc. will post 1.96 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. DA Davidson boosted their price target on Construction Partners from $50.00 to $55.00 and gave the company a "neutral" rating in a report on Tuesday, August 13th. Stifel Nicolaus lifted their price objective on Construction Partners from $61.00 to $67.00 and gave the stock a "buy" rating in a research report on Monday, August 12th. Robert W. Baird upped their target price on Construction Partners from $68.00 to $92.00 and gave the company a "neutral" rating in a report on Tuesday, October 22nd. Finally, Raymond James lifted their price target on shares of Construction Partners from $69.00 to $72.00 and gave the company a "strong-buy" rating in a report on Monday, August 12th. Three investment 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $69.00.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ROAD. Price T Rowe Associates Inc. MD boosted its stake in Construction Partners by 8.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 27,774 shares of the company's stock worth $1,560,000 after acquiring an additional 2,203 shares in the last quarter. Cetera Advisors LLC purchased a new position in shares of Construction Partners during the first quarter valued at approximately $254,000. EFG Asset Management North America Corp. boosted its position in shares of Construction Partners by 13.1% in the 2nd quarter. EFG Asset Management North America Corp. now owns 47,569 shares of the company's stock worth $2,624,000 after purchasing an additional 5,499 shares in the last quarter. Conestoga Capital Advisors LLC grew its stake in shares of Construction Partners by 3.0% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 4,135,202 shares of the company's stock worth $228,305,000 after buying an additional 120,155 shares during the last quarter. Finally, Commonwealth Equity Services LLC bought a new position in Construction Partners during the 2nd quarter valued at approximately $342,000. 94.83% of the stock is currently owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.