Construction Partners (NASDAQ:ROAD) Stock Price Down 4.1% – Here’s What Happened

Construction Partners, Inc. (NASDAQ:ROAD)’s stock price was down 4.1% on Monday . The stock traded as low as $82.22 and last traded at $83.21. Approximately 97,340 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 625,780 shares. The stock had previously closed at $86.76.

Analyst Upgrades and Downgrades

ROAD has been the subject of several analyst reports. DA Davidson reiterated a “neutral” rating and set a $95.00 price target on shares of Construction Partners in a report on Thursday, January 30th. Raymond James decreased their price objective on shares of Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating for the company in a research report on Thursday, January 16th. Finally, Robert W. Baird increased their target price on Construction Partners from $100.00 to $102.00 and gave the company a “neutral” rating in a report on Monday. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Construction Partners currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.40.

Construction Partners Stock Down 0.5 %

The firm’s 50-day moving average price is $89.26 and its two-hundred day moving average price is $79.31. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.26 and a current ratio of 1.54. The firm has a market cap of $4.54 billion, a PE ratio of 61.52, a P/E/G ratio of 1.25 and a beta of 0.74.

Construction Partners (NASDAQ:ROAD) last announced its quarterly 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). Construction Partners had a net margin of 3.78% and a return on equity of 12.90%. The company had revenue of $538.16 million during the quarter, compared to analysts’ expectations of $538.04 million. During the same period last year, the firm earned $0.59 earnings per share. Construction Partners’s revenue was up 13.3% on a year-over-year basis. As a group, equities research analysts expect that Construction Partners, Inc. will post 1.95 EPS for the current fiscal year.

Insider Activity

In other Construction Partners news, CAO Todd Keith Andrews sold 5,489 shares of Construction Partners stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $91.84, for a total transaction of $504,109.76. Following the transaction, the chief accounting officer now owns 17,394 shares of the company’s stock, valued at $1,597,464.96. The trade was a 23.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP John L. Harper sold 6,000 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $94.41, for a total value of $566,460.00. Following the completion of the sale, the senior vice president now directly owns 154,856 shares of the company’s stock, valued at $14,619,954.96. The trade was a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 139,225 shares of company stock valued at $13,904,358. Insiders own 16.36% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Construction Partners by 42.8% during the fourth quarter. Vanguard Group Inc. now owns 3,492,368 shares of the company’s stock worth $308,935,000 after buying an additional 1,046,617 shares during the last quarter. State Street Corp raised its stake in Construction Partners by 2.7% during the 3rd quarter. State Street Corp now owns 1,004,867 shares of the company’s stock valued at $70,140,000 after acquiring an additional 26,189 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Construction Partners by 197.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 616,032 shares of the company’s stock worth $54,104,000 after acquiring an additional 408,610 shares during the period. Raymond James Financial Inc. acquired a new stake in Construction Partners during the 4th quarter worth approximately $42,527,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Construction Partners by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 463,000 shares of the company’s stock valued at $40,957,000 after purchasing an additional 9,788 shares during the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.

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.