Construction Partners (NASDAQ:ROAD) Trading Down 3.7%

Construction Partners, Inc. (NASDAQ:ROADGet Rating) dropped 3.7% during mid-day trading on Friday . The stock traded as low as $30.25 and last traded at $30.31. Approximately 4,848 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 193,581 shares. The stock had previously closed at $31.46.

Analyst Upgrades and Downgrades

ROAD has been the topic of several recent analyst reports. DA Davidson increased their target price on shares of Construction Partners to $28.00 in a research note on Monday, August 15th. Sidoti began coverage on shares of Construction Partners in a report on Wednesday, June 1st. They issued a “buy” rating on the stock. Finally, Robert W. Baird increased their price target on shares of Construction Partners from $26.00 to $32.00 in a report on Monday, August 8th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $31.80.

Construction Partners Stock Performance

The company has a current ratio of 1.91, a quick ratio of 1.53 and a debt-to-equity ratio of 0.79. The company’s fifty day moving average is $25.87 and its 200 day moving average is $24.84. The company has a market cap of $1.59 billion, a P/E ratio of 97.90, a price-to-earnings-growth ratio of 2.06 and a beta of 0.88.

Construction Partners (NASDAQ:ROADGet Rating) last released its earnings results on Friday, August 5th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.17 by $0.06. Construction Partners had a net margin of 1.36% and a return on equity of 3.87%. The company had revenue of $380.30 million for the quarter, compared to analyst estimates of $316.77 million. During the same quarter last year, the firm earned $0.18 EPS. The firm’s quarterly revenue was up 45.4% compared to the same quarter last year. As a group, equities analysts predict that Construction Partners, Inc. will post 0.41 earnings per share for the current fiscal year.

Insider Activity at Construction Partners

In related news, Director Stefan L. Shaffer sold 7,697 shares of the stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $28.93, for a total transaction of $222,674.21. Following the transaction, the director now owns 47,495 shares of the company’s stock, valued at approximately $1,374,030.35. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 24.35% of the stock is owned by insiders.

Institutional Investors Weigh In On Construction Partners

A number of large investors have recently added to or reduced their stakes in ROAD. Quantbot Technologies LP bought a new stake in Construction Partners in the 1st quarter worth $36,000. Captrust Financial Advisors grew its holdings in Construction Partners by 37.1% in the 2nd quarter. Captrust Financial Advisors now owns 2,223 shares of the company’s stock worth $47,000 after acquiring an additional 602 shares during the last quarter. Prospera Financial Services Inc bought a new stake in Construction Partners in the 1st quarter worth $52,000. Lazard Asset Management LLC bought a new stake in Construction Partners in the 1st quarter worth $54,000. Finally, Ameritas Investment Partners Inc. grew its holdings in Construction Partners by 37.7% in the 1st quarter. Ameritas Investment Partners Inc. now owns 3,089 shares of the company’s stock worth $81,000 after acquiring an additional 845 shares during the last quarter. Institutional investors own 77.97% of the company’s stock.

Construction Partners Company Profile

(Get Rating)

Construction Partners, Inc, a civil infrastructure company, engages in the construction and maintenance of roadways across Alabama, Florida, Georgia, North Carolina, and South Carolina. The company, through its subsidiaries, provides various products and services to public and private infrastructure projects, with a focus on highways, roads, bridges, airports, and commercial and residential developments.

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