Construction Partners (NASDAQ:ROAD) Stock Price Down 6.1% on Insider Selling

Construction Partners, Inc. (NASDAQ:ROAD)’s stock price was down 6.1% during trading on Monday after an insider sold shares in the company. The company traded as low as $95.45 and last traded at $95.64. Approximately 143,940 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 362,604 shares. The stock had previously closed at $101.86.

Specifically, Director Charles E. Owens sold 49,695 shares of Construction Partners stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $100.81, for a total value of $5,009,752.95. Following the completion of the sale, the director now owns 130,291 shares of the company’s stock, valued at approximately $13,134,635.71. The trade was a 27.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles E. Owens sold 46,596 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $101.33, for a total value of $4,721,572.68. Following the transaction, the director now directly owns 203,404 shares in the company, valued at $20,610,927.32. The trade was a 18.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Ratings Changes

ROAD has been the subject of a number of research reports. DA Davidson upped their price objective on Construction Partners from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Robert W. Baird boosted their price target on Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Raymond James increased their price objective 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. Finally, Stifel Nicolaus raised 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 assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Construction Partners has an average rating of “Moderate Buy” and an average target price of $69.00.

Construction Partners Stock Down 4.6 %

The company has a quick ratio of 1.26, a current ratio of 1.54 and a debt-to-equity ratio of 0.85. The company has a fifty day simple moving average of $85.56 and a 200-day simple moving average of $69.19. The firm has a market cap of $5.43 billion, a P/E ratio of 73.60, a price-to-earnings-growth ratio of 1.22 and a beta of 0.70.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings data 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). 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 for the quarter, compared to the consensus estimate of $538.04 million. During the same quarter last year, the firm posted $0.59 earnings per share. The company’s revenue was up 13.3% compared to the same quarter last year. On average, equities analysts anticipate that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in Construction Partners by 24.4% during the third quarter. GAMMA Investing LLC now owns 873 shares of the company’s stock valued at $61,000 after acquiring an additional 171 shares during the period. KBC Group NV grew its position in shares of Construction Partners by 35.0% during the third quarter. KBC Group NV now owns 1,417 shares of the company’s stock worth $99,000 after purchasing an additional 367 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in Construction Partners by 55.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,831 shares of the company’s stock valued at $101,000 after purchasing an additional 653 shares during the period. nVerses Capital LLC purchased a new position in Construction Partners in the 2nd quarter worth approximately $116,000. Finally, Public Employees Retirement Association of Colorado bought a new position in Construction Partners in the 2nd quarter worth approximately $162,000. Hedge funds and other institutional investors 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.