Construction Partners (NASDAQ:ROAD) Price Target Raised to $102.00

Construction Partners (NASDAQ:ROAD) had its price objective boosted by Robert W. Baird from $100.00 to $102.00 in a report released on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages have also issued reports on ROAD. DA Davidson reissued a “neutral” rating and set a $95.00 target price on shares of Construction Partners in a research note on Thursday, January 30th. Raymond James lowered their target price on shares of Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating for the company in a research note on Thursday, January 16th. Three equities 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $85.40.

Construction Partners Trading Down 0.8 %

ROAD stock opened at $80.60 on Monday. The company has a quick ratio of 1.26, a current ratio of 1.54 and a debt-to-equity ratio of 0.85. Construction Partners has a twelve month low of $45.22 and a twelve month high of $103.69. The stock has a market capitalization of $4.50 billion, a price-to-earnings ratio of 61.06, a price-to-earnings-growth ratio of 1.25 and a beta of 0.74. The firm’s fifty day simple moving average is $88.85 and its two-hundred day simple moving average is $79.32.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings data 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 net margin of 3.78% and a return on equity of 12.90%. The firm had revenue of $538.16 million for the quarter, compared to the consensus estimate of $538.04 million. During the same quarter last year, the firm earned $0.59 EPS. The company’s revenue was up 13.3% on a year-over-year basis. As a group, analysts anticipate that Construction Partners will post 1.95 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP John L. Harper sold 6,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $94.41, for a total value of $566,460.00. Following the completion of the sale, the senior vice president now directly owns 154,856 shares of the company’s stock, valued at $14,619,954.96. This represents a 3.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles E. Owens sold 49,695 shares of the company’s 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 completion of the sale, the director now directly owns 130,291 shares of the company’s stock, valued at approximately $13,134,635.71. This trade represents a 27.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 139,225 shares of company stock valued at $13,904,358 over the last three months. 16.36% of the stock is owned by company insiders.

Institutional Trading of Construction Partners

A number of hedge funds have recently added to or reduced their stakes in the business. Byrne Asset Management LLC lifted its stake in Construction Partners by 33.3% in the fourth 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 period. Allworth Financial LP lifted its position in shares of Construction Partners by 15.0% during the fourth quarter. Allworth Financial LP now owns 1,228 shares of the company’s stock valued at $114,000 after buying an additional 160 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Construction Partners by 24.4% during the third quarter. GAMMA Investing LLC now owns 873 shares of the company’s stock valued at $61,000 after buying an additional 171 shares during the last quarter. USA Financial Formulas purchased a new stake in shares of Construction Partners during the fourth quarter valued at about $31,000. Finally, HighTower Advisors LLC lifted its position in shares of Construction Partners by 1.2% during the fourth quarter. HighTower Advisors LLC now owns 29,531 shares of the company’s stock valued at $2,612,000 after buying an additional 350 shares during the last quarter. 94.83% of the stock is owned by hedge funds and other institutional investors.

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.