Construction Partners (NASDAQ:ROAD) Hits New 52-Week High at $66.81

Construction Partners, Inc. (NASDAQ:ROAD) shares reached a new 52-week high on Monday . The company traded as high as $66.81 and last traded at $66.72, with a volume of 100942 shares. The stock had previously closed at $65.09.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ROAD shares. DA Davidson increased their price objective on Construction Partners from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Raymond James raised their price target on shares of Construction Partners from $69.00 to $72.00 and gave the company a “strong-buy” rating in a report on Monday, August 12th. Finally, Stifel Nicolaus upped their price objective on shares of Construction Partners from $61.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.67.

Construction Partners Stock Performance

The company has a quick ratio of 1.30, a current ratio of 1.60 and a debt-to-equity ratio of 0.82. The stock’s 50-day moving average price is $60.90 and its 200 day moving average price is $56.93. The company has a market cap of $3.77 billion, a P/E ratio of 61.06, a price-to-earnings-growth ratio of 1.43 and a beta of 0.67.

Construction Partners (NASDAQ:ROAD) last announced its earnings results on Friday, August 9th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.54 by $0.05. The firm had revenue of $517.80 million for the quarter, compared to the consensus estimate of $503.57 million. Construction Partners had a net margin of 4.01% and a return on equity of 13.34%. The business’s quarterly revenue was up 22.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 EPS. As a group, research analysts expect that Construction Partners, Inc. will post 1.43 EPS for the current fiscal year.

Insider Activity at Construction Partners

In other news, Director Mark R. Matteson sold 25,408 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $61.97, for a total value of $1,574,533.76. Following the sale, the director now owns 102,592 shares in the company, valued at $6,357,626.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 18.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Construction Partners

A number of institutional investors have recently bought and sold shares of the business. Wasatch Advisors LP grew its stake in shares of Construction Partners by 188.3% in the 1st quarter. Wasatch Advisors LP now owns 1,692,328 shares of the company’s stock valued at $95,024,000 after purchasing an additional 1,105,423 shares during the period. Clearbridge Investments LLC bought a new stake in Construction Partners in the second quarter valued at $20,360,000. TimesSquare Capital Management LLC acquired a new position in Construction Partners during the first quarter worth $19,832,000. Tyro Capital Management LLC bought a new position in shares of Construction Partners during the fourth quarter valued at $12,410,000. Finally, Geneva Capital Management LLC boosted its stake in shares of Construction Partners by 8.5% in the 1st quarter. Geneva Capital Management LLC now owns 3,408,788 shares of the company’s stock valued at $191,403,000 after purchasing an additional 268,225 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

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.