Construction Partners (NASDAQ:ROAD) Shares Gap Down – Should You Sell?

Construction Partners, Inc. (NASDAQ:ROAD) shares gapped down prior to trading on Thursday . The stock had previously closed at $92.78, but opened at $85.17. Construction Partners shares last traded at $83.72, with a volume of 419,152 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ROAD. Robert W. Baird increased their price target on shares of Construction Partners from $68.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Raymond James dropped their target price on Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating on the stock in a research report on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $75.40.

Construction Partners Trading Up 2.3 %

The company’s fifty day simple moving average is $93.30 and its 200-day simple moving average is $77.14. The firm has a market capitalization of $4.72 billion, a PE ratio of 63.99, a P/E/G ratio of 1.14 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.

Construction Partners (NASDAQ:ROAD) last issued its quarterly 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). 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 during the quarter, compared to analysts’ expectations of $538.04 million. During the same period in the prior year, the business posted $0.59 earnings per share. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. As a group, sell-side analysts expect that Construction Partners, Inc. will post 1.95 earnings per share for the current fiscal year.

Insider Activity at Construction Partners

In related news, CAO Todd Keith Andrews sold 5,489 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $91.84, for a total value of $504,109.76. Following the completion of the sale, the chief accounting officer now owns 17,394 shares of the company’s stock, valued at approximately $1,597,464.96. This represents a 23.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP John L. Harper sold 6,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $94.41, for a total transaction of $566,460.00. Following the sale, the senior vice president now owns 154,856 shares of the company’s stock, valued at approximately $14,619,954.96. The trade was a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 139,225 shares of company stock valued at $13,904,358. 18.80% of the stock is owned by insiders.

Institutional Trading of Construction Partners

Hedge funds have recently made changes to their positions in the company. Calamos Advisors LLC raised its holdings in Construction Partners by 5.8% in the 4th quarter. Calamos Advisors LLC now owns 33,390 shares of the company’s stock valued at $2,954,000 after buying an additional 1,827 shares during the period. Washington University acquired a new stake in shares of Construction Partners during the fourth quarter valued at about $3,452,000. KBC Group NV raised its stake in shares of Construction Partners by 49.5% in the 4th quarter. KBC Group NV now owns 2,118 shares of the company’s stock valued at $187,000 after acquiring an additional 701 shares during the period. Nisa Investment Advisors LLC raised its stake 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. Finally, Sheets Smith Wealth Management purchased a new position in shares of Construction Partners during the 4th quarter worth approximately $632,000. 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.