Construction Partners (NASDAQ:ROAD) Given New $104.00 Price Target at Raymond James

Construction Partners (NASDAQ:ROAD) had its price objective cut by analysts at Raymond James from $112.00 to $104.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “strong-buy” rating on the stock. Raymond James’ price target would indicate a potential upside of 12.95% from the stock’s previous close.

Separately, Robert W. Baird upped their price objective on shares of Construction Partners from $68.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Construction Partners has an average rating of “Moderate Buy” and a consensus price target of $75.40.

Construction Partners Stock Performance

ROAD stock traded up $0.56 during trading on Thursday, hitting $92.08. The company had a trading volume of 82,781 shares, compared to its average volume of 402,025. The firm has a 50-day moving average price of $93.74 and a 200-day moving average price of $75.57. 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 firm has a market cap of $5.15 billion, a PE ratio of 69.76, a price-to-earnings-growth ratio of 1.05 and a beta of 0.75. Construction Partners has a 1-year low of $40.85 and a 1-year high of $103.69.

Construction Partners (NASDAQ:ROAD) last released its earnings results on Thursday, November 21st. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). Construction Partners had a net margin of 3.78% and a return on equity of 12.90%. The company had revenue of $538.16 million during the quarter, compared to analyst estimates of $538.04 million. During the same period in the previous year, the firm posted $0.59 EPS. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. On average, analysts expect that Construction Partners will post 1.96 earnings per share for the current year.

Insider Activity at Construction Partners

In other news, Director Charles E. Owens sold 49,695 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $100.81, for a total value of $5,009,752.95. Following the completion of the transaction, the director now owns 130,291 shares in the company, valued at $13,134,635.71. This trade represents a 27.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 sale, the chief accounting officer now directly owns 19,339 shares in the company, valued at approximately $1,853,836.54. This represents a 11.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 139,225 shares of company stock worth $13,904,358 over the last three months. 18.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ROAD. GAMMA Investing LLC grew its holdings in shares of Construction Partners by 24.4% in the 3rd quarter. GAMMA Investing LLC now owns 873 shares of the company’s stock worth $61,000 after acquiring an additional 171 shares during the period. USA Financial Formulas purchased a new stake in Construction Partners during the fourth quarter worth $31,000. KBC Group NV grew its holdings in Construction Partners by 35.0% in the third quarter. KBC Group NV now owns 1,417 shares of the company’s stock valued at $99,000 after purchasing an additional 367 shares during the last quarter. nVerses Capital LLC increased its position in shares of Construction Partners by 19.0% in the third quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock valued at $174,000 after buying an additional 400 shares in the last quarter. Finally, Benjamin Edwards Inc. increased its position in shares of Construction Partners by 8.7% in the third quarter. Benjamin Edwards Inc. now owns 7,419 shares of the company’s stock valued at $518,000 after buying an additional 594 shares in the last quarter. 94.83% of the stock is owned by hedge funds and other institutional investors.

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.