Charles E. Owens Sells 16,203 Shares of Construction Partners, Inc. (NASDAQ:ROAD) Stock

Construction Partners, Inc. (NASDAQ:ROAD) Director Charles E. Owens sold 16,203 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $98.22, for a total value of $1,591,458.66. Following the transaction, the director now owns 102,610 shares in the company, valued at approximately $10,078,354.20. This represents a 13.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Construction Partners Price Performance

Shares of NASDAQ ROAD opened at $95.96 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.54 and a quick ratio of 1.26. Construction Partners, Inc. has a 1 year low of $39.79 and a 1 year high of $103.69. The company’s 50-day moving average is $87.29 and its 200 day moving average is $69.82. The stock has a market capitalization of $5.36 billion, a P/E ratio of 72.70, a P/E/G ratio of 1.22 and a beta of 0.70.

Construction Partners (NASDAQ:ROAD) last announced its earnings results on Thursday, November 21st. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $538.04 million. During the same period in the prior year, the company posted $0.59 EPS. The firm’s revenue was up 13.3% on a year-over-year basis. On average, sell-side analysts expect that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Robert W. Baird boosted their target price on Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $69.00.

Hedge Funds Weigh In On Construction Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in ROAD. Ninepoint Partners LP purchased a new stake in shares of Construction Partners in the 2nd quarter worth about $954,000. Segall Bryant & Hamill LLC purchased a new stake in Construction Partners in the third quarter worth about $10,377,000. Engle Capital Management L.P. bought a new position in shares of Construction Partners during the second quarter valued at approximately $5,742,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Construction Partners by 47.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 207,422 shares of the company’s stock valued at $14,478,000 after purchasing an additional 67,150 shares during the last quarter. Finally, Westover Capital Advisors LLC bought a new stake in shares of Construction Partners in the 2nd quarter worth approximately $674,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

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.