Construction Partners (NASDAQ:ROAD) Receives “Neutral” Rating from DA Davidson

DA Davidson reaffirmed their neutral rating on shares of Construction Partners (NASDAQ:ROAD) in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has a $95.00 target price on the stock.

ROAD has been the subject of a number of other reports. Raymond James decreased their price target on shares of Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating for the company in a report on Thursday, January 16th. Robert W. Baird increased 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 investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $83.40.

Construction Partners Stock Performance

ROAD opened at $80.02 on Thursday. The stock has a 50-day moving average of $92.23 and a 200-day moving average of $77.82. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.26 and a current ratio of 1.54. Construction Partners has a 52-week low of $44.70 and a 52-week high of $103.69. The company has a market cap 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 announced its quarterly earnings results on Thursday, November 21st. The company reported $0.56 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 for the quarter, compared to analyst estimates of $538.04 million. During the same quarter last year, the business earned $0.59 EPS. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. As a group, equities research analysts forecast that Construction Partners will post 1.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP John L. Harper sold 6,000 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 154,856 shares of the company’s stock, valued at approximately $14,619,954.96. This trade represents a 3.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Todd Keith Andrews sold 5,489 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $91.84, for a total transaction of $504,109.76. Following the completion of the sale, the chief accounting officer now directly owns 17,394 shares in the company, valued at approximately $1,597,464.96. The trade was a 23.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 139,225 shares of company stock valued at $13,904,358 over the last three months. 18.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ROAD. AQR Capital Management LLC raised its holdings in shares of Construction Partners by 25.0% in the 2nd quarter. AQR Capital Management LLC now owns 9,574 shares of the company’s stock worth $529,000 after buying an additional 1,912 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Construction Partners by 7.5% during the second quarter. The Manufacturers Life Insurance Company now owns 23,570 shares of the company’s stock worth $1,301,000 after acquiring an additional 1,649 shares in the last quarter. Algert Global LLC bought a new position in shares of Construction Partners during the second quarter valued at $244,000. Clearbridge Investments LLC acquired a new stake in shares of Construction Partners in the 2nd quarter valued at $20,360,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Construction Partners in the 2nd quarter valued at $1,601,000. Institutional investors own 94.83% of the company’s stock.

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.