Construction Partners (NASDAQ:ROAD) PT Raised to $37.00 at Raymond James

Construction Partners (NASDAQ:ROADGet Rating) had its price target boosted by stock analysts at Raymond James from $35.00 to $37.00 in a report released on Monday, Benzinga reports. The firm presently has a “strong-buy” rating on the stock. Raymond James’ price objective indicates a potential upside of 35.58% from the stock’s previous close.

Several other brokerages also recently issued reports on ROAD. DA Davidson increased their price target on Construction Partners to $28.00 in a report on Monday, August 15th. Robert W. Baird increased their price target on Construction Partners from $26.00 to $32.00 in a report on Monday, August 8th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $34.20.

Construction Partners Stock Down 16.1 %

Shares of Construction Partners stock opened at $27.29 on Monday. Construction Partners has a 1 year low of $18.89 and a 1 year high of $38.17. The business has a 50-day moving average of $29.03 and a two-hundred day moving average of $25.83. The company has a market capitalization of $1.43 billion, a P/E ratio of 88.03, a price-to-earnings-growth ratio of 1.05 and a beta of 0.95. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.91 and a quick ratio of 1.53.

Insider Buying and Selling

In related news, Director Noreen E. Skelly sold 3,100 shares of the stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $28.30, for a total transaction of $87,730.00. Following the completion of the transaction, the director now directly owns 22,091 shares in the company, valued at $625,175.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Construction Partners news, Director Suntx Capital Management Corp. sold 50,922 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $27.94, for a total value of $1,422,760.68. Following the completion of the transaction, the director now directly owns 29,731 shares in the company, valued at $830,684.14. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Noreen E. Skelly sold 3,100 shares of the firm’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $28.30, for a total value of $87,730.00. Following the completion of the transaction, the director now owns 22,091 shares of the company’s stock, valued at $625,175.30. The disclosure for this sale can be found here. 24.35% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. New York State Common Retirement Fund lifted its position in shares of Construction Partners by 38.1% in the first quarter. New York State Common Retirement Fund now owns 28,369 shares of the company’s stock valued at $743,000 after buying an additional 7,824 shares during the last quarter. Kennedy Capital Management Inc. lifted its position in shares of Construction Partners by 1.4% in the second quarter. Kennedy Capital Management Inc. now owns 252,769 shares of the company’s stock valued at $5,293,000 after buying an additional 3,591 shares during the last quarter. Arizona State Retirement System lifted its position in shares of Construction Partners by 19.3% in the second quarter. Arizona State Retirement System now owns 11,163 shares of the company’s stock valued at $234,000 after buying an additional 1,803 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Construction Partners by 36.7% in the second quarter. Envestnet Asset Management Inc. now owns 261,304 shares of the company’s stock valued at $5,472,000 after buying an additional 70,195 shares during the last quarter. Finally, Summit Creek Advisors LLC lifted its position in shares of Construction Partners by 9.1% in the first quarter. Summit Creek Advisors LLC now owns 553,899 shares of the company’s stock valued at $14,501,000 after buying an additional 46,385 shares during the last quarter. 77.97% of the stock is currently owned by institutional investors.

Construction Partners Company Profile

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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.

Further Reading

Analyst Recommendations for Construction Partners (NASDAQ:ROAD)

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