Insider Selling: Construction Partners, Inc. (NASDAQ:ROAD) SVP Sells $566,460.00 in Stock

Construction Partners, Inc. (NASDAQ:ROAD) SVP John L. Harper sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $94.41, for a total transaction of $566,460.00. Following the completion of the sale, the senior vice president now directly owns 154,856 shares in the company, valued at approximately $14,619,954.96. This trade represents a 3.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Construction Partners Stock Performance

Shares of ROAD opened at $91.87 on Friday. The company has a market capitalization of $5.13 billion, a price-to-earnings ratio of 69.60, a price-to-earnings-growth ratio of 1.15 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 quick ratio of 1.26, a current ratio of 1.54 and a debt-to-equity ratio of 0.85. The stock has a 50 day moving average price of $89.64 and a 200 day moving average price of $70.98.

Construction Partners (NASDAQ:ROAD) last issued 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 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 quarter in the previous year, the company posted $0.59 EPS. The company’s quarterly revenue was up 13.3% on a year-over-year basis. Research analysts predict that Construction Partners, Inc. will post 1.96 EPS for the current fiscal year.

Institutional Trading of Construction Partners

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ninepoint Partners LP purchased a new position in Construction Partners during the 2nd quarter worth approximately $954,000. Segall Bryant & Hamill LLC purchased a new position in shares of Construction Partners during the third quarter worth approximately $10,377,000. Engle Capital Management L.P. acquired a new position in shares of Construction Partners in the 2nd quarter valued at $5,742,000. Allspring Global Investments Holdings LLC raised its position in Construction Partners by 47.9% in the 3rd 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 acquired a new stake in Construction Partners during the 2nd quarter worth $674,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Robert W. Baird raised their price objective on shares of Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Three equities 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. According to MarketBeat.com, Construction Partners currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.00.

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.