Raymond James Has Lowered Expectations for Construction Partners (NASDAQ:ROAD) Stock Price

Construction Partners (NASDAQ:ROAD) had its price target lowered by stock analysts at Raymond James from $112.00 to $104.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “strong-buy” rating on the stock. Raymond James’ price objective would suggest a potential upside of 15.26% from the stock’s current price.

Separately, Robert W. Baird upped their target price on shares of Construction Partners from $68.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Three 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $75.40.

Construction Partners Stock Down 1.1 %

Shares of Construction Partners stock opened at $90.23 on Thursday. The company has a market capitalization of $5.04 billion, a P/E ratio of 68.36, a price-to-earnings-growth ratio of 1.05 and a beta of 0.75. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.54 and a quick ratio of 1.26. The business has a 50-day moving average of $93.63 and a two-hundred day moving average of $75.93. Construction Partners has a 1 year low of $40.85 and a 1 year 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). Construction Partners had a return on equity of 12.90% and a net margin of 3.78%. The business had revenue of $538.16 million for the quarter, compared to the consensus estimate of $538.04 million. During the same period in the previous year, the company posted $0.59 earnings per share. Construction Partners’s revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, equities analysts predict that Construction Partners will post 1.96 EPS for the current year.

Insider Activity

In related news, Director Charles E. Owens sold 49,695 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $100.81, for a total transaction of $5,009,752.95. Following the sale, the director now owns 130,291 shares in the company, 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 legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Todd Keith Andrews sold 2,511 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $95.86, for a total value of $240,704.46. Following the transaction, the chief accounting officer now directly owns 19,339 shares of the company’s stock, valued at $1,853,836.54. This trade represents a 11.49 % decrease in their ownership of the stock. 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. Insiders own 18.80% of the company’s stock.

Institutional Trading of Construction Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its position in shares of Construction Partners by 400.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 541 shares of the company’s stock valued at $48,000 after acquiring an additional 433 shares during the period. Sheets Smith Wealth Management bought a new position in Construction Partners during the fourth quarter worth about $632,000. Perpetual Ltd increased its position in Construction Partners by 47.0% during the fourth quarter. Perpetual Ltd now owns 9,277 shares of the company’s stock worth $821,000 after buying an additional 2,967 shares during the last quarter. Artemis Investment Management LLP bought a new stake in Construction Partners in the fourth quarter valued at approximately $18,893,000. Finally, USA Financial Formulas bought a new stake in Construction Partners in the fourth quarter valued at approximately $31,000. 94.83% of the stock is owned by institutional investors.

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.