Construction Partners, Inc. (NASDAQ:ROAD) Short Interest Update

Construction Partners, Inc. (NASDAQ:ROAD) saw 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 daily trading volume, of 392,600 shares, the days-to-cover ratio is presently 6.1 days.

Insider Activity

In related news, Director Suntx Capital Ii Management Co sold 12,731 shares of Construction Partners stock in a transaction that occurred 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 sale, the director now owns 17,000 shares of the company’s stock, valued at approximately $1,696,260. This trade represents a 42.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles E. Owens sold 16,203 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $98.22, for a total value of $1,591,458.66. Following the transaction, the director now directly owns 102,610 shares of the company’s stock, valued at approximately $10,078,354.20. This trade represents a 13.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 125,225 shares of company stock worth $12,593,083 over the last quarter. 18.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ROAD. Franklin Resources Inc. bought a new position in Construction Partners during the third quarter worth $273,000. Sanctuary Advisors LLC bought a new stake in shares of Construction Partners during the 3rd quarter worth about $288,000. Virtu Financial LLC bought a new stake in shares of Construction Partners during the 3rd quarter worth about $559,000. Barclays PLC grew its position in shares of Construction Partners by 109.5% in the third quarter. Barclays PLC now owns 101,463 shares of the company’s stock valued at $7,082,000 after purchasing an additional 53,026 shares during the last quarter. Finally, MML Investors Services LLC increased its stake in shares of Construction Partners by 3.6% during the third quarter. MML Investors Services LLC now owns 32,563 shares of the company’s stock worth $2,273,000 after purchasing an additional 1,130 shares during the period. 94.83% of the stock is owned by institutional investors and hedge funds.

Construction Partners Stock Down 1.2 %

Shares of NASDAQ:ROAD traded down $1.12 during midday trading on Friday, hitting $94.84. The stock had a trading volume of 389,324 shares, compared to its average volume of 404,955. The company has a market cap of $5.30 billion, a P/E ratio of 71.85, a PEG ratio of 1.15 and a beta of 0.70. Construction Partners has a 12 month low of $39.79 and a 12 month high of $103.69. The business’s 50-day simple moving average is $87.82 and its 200-day simple moving average is $70.19. The company has a quick ratio of 1.26, a current ratio of 1.54 and a debt-to-equity ratio of 0.85.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings results on Thursday, November 21st. The company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). The business had revenue of $538.16 million for the quarter, compared to the consensus estimate of $538.04 million. Construction Partners had a return on equity of 12.90% and a net margin of 3.78%. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.59 EPS. On average, sell-side analysts forecast that Construction Partners will post 1.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Robert W. Baird boosted their price target on shares of Construction Partners from $68.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Construction Partners currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.00.

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.