Construction Partners, Inc. (NASDAQ:ROAD) Short Interest Up 22.4% in November

Construction Partners, Inc. (NASDAQ:ROAD) was the target of a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 2,400,000 shares, a growth of 22.4% from the November 15th total of 1,960,000 shares. Based on an average trading volume of 392,600 shares, the days-to-cover ratio is presently 6.1 days.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, Director Suntx Capital Ii Management Co sold 12,731 shares of the firm’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 transaction, the director now directly owns 17,000 shares in the company, valued at $1,696,260. This trade represents a 42.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Charles E. Owens sold 46,596 shares of Construction Partners stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $101.33, for a total value of $4,721,572.68. Following the sale, the director now directly owns 203,404 shares of the company’s stock, valued at approximately $20,610,927.32. This trade represents a 18.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 125,225 shares of company stock valued at $12,593,083 over the last 90 days. 18.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Construction Partners

Institutional investors have recently modified their holdings of the business. GAMMA Investing LLC lifted its position in Construction Partners by 24.4% in the 3rd quarter. GAMMA Investing LLC now owns 873 shares of the company’s stock valued at $61,000 after acquiring an additional 171 shares in the last quarter. KBC Group NV raised its stake in shares of Construction Partners by 35.0% in the 3rd quarter. KBC Group NV now owns 1,417 shares of the company’s stock valued at $99,000 after purchasing an additional 367 shares during the period. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Construction Partners by 55.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,831 shares of the company’s stock valued at $101,000 after purchasing an additional 653 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Construction Partners during the second quarter worth about $116,000. Finally, Public Employees Retirement Association of Colorado bought a new position in shares of Construction Partners during the second quarter worth about $162,000. Institutional investors own 94.83% of the company’s stock.

Construction Partners Trading Up 0.5 %

Shares of NASDAQ ROAD traded up $0.47 during midday trading on Monday, reaching $95.31. 497,755 shares of the stock were exchanged, compared to its average volume of 365,567. Construction Partners has a 12 month low of $39.79 and a 12 month high of $103.69. The company has a market capitalization of $5.33 billion, a price-to-earnings ratio of 72.21, a P/E/G ratio of 1.15 and a beta of 0.70. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.54 and a quick ratio of 1.26. The business has a 50-day simple moving average of $88.34 and a two-hundred day simple moving average of $70.44.

Construction Partners (NASDAQ:ROAD) last posted its earnings results on Thursday, November 21st. The company reported $0.56 earnings per share 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 business had revenue of $538.16 million for the quarter, compared to the consensus estimate of $538.04 million. During the same quarter in the prior year, the firm posted $0.59 earnings per share. The business’s revenue was up 13.3% on a year-over-year basis. As a group, equities research analysts expect that Construction Partners will post 1.96 EPS for the current year.

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.