Construction Partners (NASDAQ:ROAD) Earns Neutral Rating from DA Davidson

DA Davidson restated their neutral rating on shares of Construction Partners (NASDAQ:ROAD) in a research report report published on Thursday,Benzinga reports. The firm currently has a $95.00 price target on the stock.

A number of other research analysts also recently issued reports on ROAD. Robert W. Baird upped their target price on shares of Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Raymond James cut 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 report on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $83.40.

Construction Partners Stock Performance

ROAD stock opened at $80.02 on Thursday. The company has a 50 day moving average price of $92.23 and a 200 day moving average price of $77.82. Construction Partners has a fifty-two week low of $44.70 and a fifty-two week high of $103.69. 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 stock has a market capitalization of $4.47 billion, a PE ratio of 60.62, a price-to-earnings-growth ratio of 0.98 and a beta of 0.75.

Construction Partners (NASDAQ:ROAD) last released its 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 firm had revenue of $538.16 million for the quarter, compared to the consensus estimate of $538.04 million. The company’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.59 EPS. Analysts forecast that Construction Partners will post 1.95 EPS for the current year.

Insider Activity at Construction Partners

In other Construction Partners news, Director Charles E. Owens sold 49,695 shares of Construction Partners stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $100.81, for a total transaction of $5,009,752.95. Following the transaction, the director now directly owns 130,291 shares in the company, valued at approximately $13,134,635.71. The trade was a 27.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Suntx Capital Ii Management Co sold 12,731 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $99.78, for a total value of $1,270,299.18. Following the completion of the transaction, the director now directly owns 17,000 shares of the company’s stock, valued at approximately $1,696,260. The trade was a 42.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 139,225 shares of company stock worth $13,904,358 in the last ninety days. Company insiders own 18.80% of the company’s stock.

Institutional Trading of Construction Partners

Several hedge funds have recently bought and sold shares of the stock. Byrne Asset Management LLC boosted its position in Construction Partners by 33.3% during the 4th quarter. Byrne Asset Management LLC now owns 533 shares of the company’s stock worth $47,000 after acquiring an additional 133 shares during the last quarter. Allworth Financial LP lifted its position in shares of Construction Partners by 15.0% in the fourth quarter. Allworth Financial LP now owns 1,228 shares of the company’s stock worth $114,000 after purchasing an additional 160 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Construction Partners by 24.4% during the third quarter. GAMMA Investing LLC now owns 873 shares of the company’s stock worth $61,000 after purchasing an additional 171 shares during the last quarter. USA Financial Formulas bought a new position in Construction Partners in the fourth quarter valued at $31,000. Finally, KBC Group NV increased its stake in Construction Partners by 35.0% in the 3rd quarter. KBC Group NV now owns 1,417 shares of the company’s stock valued at $99,000 after buying an additional 367 shares during the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.

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.