Robert W. Baird Issues Positive Forecast for Construction Partners (NASDAQ:ROAD) Stock Price

Construction Partners (NASDAQ:ROAD) had its price target lifted by Robert W. Baird from $100.00 to $102.00 in a research note published on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

ROAD has been the subject of a number of other research reports. DA Davidson reissued a “neutral” rating and issued a $95.00 target price on shares of Construction Partners in a research report on Thursday, January 30th. Raymond James cut 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 report on Thursday, January 16th. Three investment 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 stock. According to MarketBeat, Construction Partners currently has an average rating of “Moderate Buy” and an average price target of $85.40.

Construction Partners Stock Down 5.9 %

Shares of ROAD opened at $81.62 on Monday. The firm’s 50-day simple moving average is $89.65 and its 200 day simple moving average is $79.18. 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 $4.56 billion, a P/E ratio of 61.83, a price-to-earnings-growth ratio of 1.25 and a beta of 0.74. Construction Partners has a 52 week low of $45.22 and a 52 week high of $103.69.

Construction Partners (NASDAQ:ROAD) last announced its 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). The firm 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%. Construction Partners’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter last year, the business posted $0.59 EPS. On average, analysts forecast that Construction Partners will post 1.95 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP John L. Harper sold 6,000 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $94.41, for a total transaction of $566,460.00. Following the completion of the sale, the senior vice president now directly owns 154,856 shares in the company, valued at $14,619,954.96. This represents a 3.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 value of $240,704.46. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold 139,225 shares of company stock worth $13,904,358 over the last ninety days. Corporate insiders own 16.36% of the company’s stock.

Institutional Investors Weigh In On Construction Partners

Several hedge funds and other institutional investors have recently made changes to their positions in ROAD. Sheets Smith Wealth Management acquired a new stake in Construction Partners in the fourth quarter valued at approximately $632,000. Segall Bryant & Hamill LLC acquired a new stake in shares of Construction Partners during the 3rd quarter valued at $10,377,000. Allspring Global Investments Holdings LLC grew its position in Construction Partners by 47.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 207,422 shares of the company’s stock worth $14,478,000 after acquiring an additional 67,150 shares during the last quarter. Intech Investment Management LLC acquired a new position in Construction Partners in the 3rd quarter worth about $778,000. Finally, Artemis Investment Management LLP bought a new position in Construction Partners in the fourth quarter valued at about $18,893,000. 94.83% of the stock is owned by institutional investors.

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.