Charles E. Owens Sells 46,596 Shares of Construction Partners, Inc. (NASDAQ:ROAD) Stock

Construction Partners, Inc. (NASDAQ:ROAD) Director Charles E. Owens sold 46,596 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $101.33, for a total transaction of $4,721,572.68. Following the completion of the transaction, the director now owns 203,404 shares in the company, valued at approximately $20,610,927.32. The trade was a 18.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Construction Partners Stock Performance

Construction Partners stock traded up $2.54 during midday trading on Friday, reaching $101.86. 399,140 shares of the company traded hands, compared to its average volume of 363,671. Construction Partners, Inc. has a 12 month low of $39.79 and a 12 month high of $103.69. 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 moving average of $84.37 and a two-hundred day moving average of $68.46. The firm has a market capitalization of $5.69 billion, a price-to-earnings ratio of 77.17, a price-to-earnings-growth ratio of 1.20 and a beta of 0.70.

Construction Partners (NASDAQ:ROAD) last announced its earnings results 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). The company had revenue of $538.16 million for the quarter, compared to analysts’ expectations of $538.04 million. Construction Partners had a net margin of 3.78% and a return on equity of 12.90%. Construction Partners’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.59 earnings per share. As a group, research analysts predict that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Raymond James upped their target price on shares of Construction Partners from $69.00 to $72.00 and gave the stock a “strong-buy” rating in a research note on Monday, August 12th. Robert W. Baird upped their price objective on Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. DA Davidson lifted their target price on Construction Partners from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Finally, Stifel Nicolaus boosted their price target on Construction Partners from $61.00 to $67.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $69.00.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in shares of Construction Partners by 24.4% during the 3rd quarter. GAMMA Investing LLC now owns 873 shares of the company’s stock valued at $61,000 after purchasing an additional 171 shares during the period. KBC Group NV boosted its holdings in shares of Construction Partners by 35.0% in the third quarter. KBC Group NV now owns 1,417 shares of the company’s stock worth $99,000 after buying an additional 367 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in Construction Partners by 55.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,831 shares of the company’s stock valued at $101,000 after buying an additional 653 shares during the period. nVerses Capital LLC purchased a new stake in Construction Partners during the second quarter valued at approximately $116,000. Finally, Public Employees Retirement Association of Colorado bought a new position in Construction Partners in the second quarter worth approximately $162,000. 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.