Construction Partners (NASDAQ:ROAD) Stock Price Down 3.1%

Construction Partners, Inc. (NASDAQ:ROAD)’s stock price dropped 3.1% on Wednesday . The company traded as low as $58.60 and last traded at $58.76. Approximately 10,291 shares traded hands during trading, a decline of 97% from the average daily volume of 351,196 shares. The stock had previously closed at $60.65.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ROAD. Raymond James boosted their price objective 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. Stifel Nicolaus upped their price target on Construction Partners from $61.00 to $67.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Robert W. Baird lifted their price objective on Construction Partners from $50.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. Finally, 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 report on Tuesday, August 13th. 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $59.67.

Construction Partners Stock Performance

The stock has a 50 day simple moving average of $59.49 and a 200 day simple moving average of $55.91. 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 $3.06 billion, a price-to-earnings ratio of 49.67, a PEG ratio of 1.50 and a beta of 0.67.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings results on Friday, August 9th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.54 by $0.05. The firm had revenue of $517.80 million for the quarter, compared to analyst estimates of $503.57 million. Construction Partners had a return on equity of 13.34% and a net margin of 4.01%. Construction Partners’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.41 EPS. As a group, analysts predict that Construction Partners, Inc. will post 1.43 EPS for the current year.

Insider Transactions at Construction Partners

In related news, Director Mark R. Matteson sold 25,408 shares of Construction Partners stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $61.97, for a total transaction of $1,574,533.76. Following the sale, the director now owns 102,592 shares of the company’s stock, valued at approximately $6,357,626.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 18.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its position in shares of Construction Partners by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 442,466 shares of the company’s stock valued at $19,256,000 after purchasing an additional 3,647 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in Construction Partners in the fourth quarter valued at $583,000. BNP Paribas Financial Markets boosted its stake in Construction Partners by 2.0% during the 4th quarter. BNP Paribas Financial Markets now owns 38,829 shares of the company’s stock valued at $1,690,000 after acquiring an additional 745 shares during the last quarter. Jump Financial LLC acquired a new position in Construction Partners during the 4th quarter worth $1,048,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Construction Partners by 13.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 893,748 shares of the company’s stock worth $38,897,000 after purchasing an additional 105,346 shares during the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

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.