Construction Partners, Inc. (NASDAQ:ROAD) Director Suntx Capital Ii Management Co Sells 12,731 Shares

Construction Partners, Inc. (NASDAQ:ROAD) Director Suntx Capital Ii Management Co sold 12,731 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $99.78, for a total value of $1,270,299.18. Following the sale, the director now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Construction Partners Trading Down 1.7 %

NASDAQ ROAD opened at $95.96 on Friday. The company’s fifty day simple moving average is $87.29 and its 200-day simple moving average is $69.82. The stock has a market cap of $5.36 billion, a P/E ratio of 72.70, a PEG ratio of 1.22 and a beta of 0.70. Construction Partners, Inc. has a 52 week low of $39.79 and a 52 week high of $103.69. The company has a current ratio of 1.54, a quick ratio of 1.26 and a debt-to-equity ratio of 0.85.

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 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 business had revenue of $538.16 million for the quarter, compared to analysts’ expectations of $538.04 million. During the same period in the previous year, the firm posted $0.59 earnings per share. The firm’s revenue was up 13.3% compared to the same quarter last year. Equities research analysts predict that Construction Partners, Inc. will post 1.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Robert W. Baird boosted their price objective on shares of Construction Partners from $68.00 to $92.00 and gave the stock 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $69.00.

Institutional Investors Weigh In On Construction Partners

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ninepoint Partners LP acquired a new stake in shares of Construction Partners during the 2nd quarter valued at approximately $954,000. Segall Bryant & Hamill LLC bought a new stake in shares of Construction Partners in the 3rd quarter worth approximately $10,377,000. Engle Capital Management L.P. acquired a new position in Construction Partners during the 2nd quarter valued at approximately $5,742,000. Allspring Global Investments Holdings LLC grew its stake in Construction Partners by 47.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 207,422 shares of the company’s stock worth $14,478,000 after buying an additional 67,150 shares during the last quarter. Finally, Westover Capital Advisors LLC bought a new position in shares of Construction Partners during the second quarter worth about $674,000. 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.