Sheets Smith Wealth Management Acquires Shares of 7,141 Construction Partners, Inc. (NASDAQ:ROAD)

Sheets Smith Wealth Management bought a new stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) in the 4th quarter, HoldingsChannel.com reports. The firm bought 7,141 shares of the company’s stock, valued at approximately $632,000.

A number of other hedge funds have also made changes to their positions in ROAD. Perpetual Ltd boosted its stake in Construction Partners by 47.0% during the 4th quarter. Perpetual Ltd now owns 9,277 shares of the company’s stock valued at $821,000 after acquiring an additional 2,967 shares during the last quarter. Artemis Investment Management LLP acquired a new stake in shares of Construction Partners in the 4th quarter valued at about $18,893,000. USA Financial Formulas bought a new position in shares of Construction Partners during the fourth quarter worth about $31,000. Principal Financial Group Inc. grew its stake in Construction Partners by 4.1% in the third quarter. Principal Financial Group Inc. now owns 40,215 shares of the company’s stock worth $2,807,000 after purchasing an additional 1,596 shares in the last quarter. Finally, Franklin Resources Inc. acquired a new position in Construction Partners in the third quarter worth about $273,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ROAD shares. Robert W. Baird increased their target price on Construction Partners from $68.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Raymond James reduced their price objective on Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating on the stock in a research note on Thursday, January 16th. Three equities research 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 company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $75.40.

Construction Partners Trading Down 0.2 %

NASDAQ:ROAD opened at $92.78 on Thursday. The firm has a market capitalization of $5.18 billion, a P/E ratio of 70.29, a P/E/G ratio of 1.11 and a beta of 0.75. The business has a 50 day simple moving average of $93.52 and a 200 day simple moving average of $76.88. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.54 and a quick ratio of 1.26. Construction Partners, Inc. has a 12-month low of $40.85 and a 12-month high of $103.69.

Construction Partners (NASDAQ:ROAD) last posted its earnings results on Thursday, November 21st. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). The company had revenue of $538.16 million during the quarter, compared to the consensus estimate of $538.04 million. Construction Partners had a net margin of 3.78% and a return on equity of 12.90%. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.59 earnings per share. Equities research analysts predict that Construction Partners, Inc. will post 1.95 EPS for the current year.

Insider Activity at Construction Partners

In other news, Director Charles E. Owens sold 49,695 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $100.81, for a total value of $5,009,752.95. Following the completion of the transaction, the director now owns 130,291 shares of the company’s stock, valued at approximately $13,134,635.71. This represents a 27.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Todd Keith Andrews sold 2,511 shares of Construction Partners stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $95.86, for a total transaction of $240,704.46. Following the sale, the chief accounting officer now owns 19,339 shares in the company, valued at approximately $1,853,836.54. This represents a 11.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 139,225 shares of company stock worth $13,904,358 in the last ninety days. 18.80% of the stock is owned by insiders.

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.