DA Davidson Reaffirms “Neutral” Rating for Construction Partners (NASDAQ:ROAD)

Construction Partners (NASDAQ:ROAD)‘s stock had its “neutral” rating reissued by DA Davidson in a note issued to investors on Thursday,Benzinga reports. They currently have a $95.00 price target on the stock. DA Davidson’s target price would suggest a potential upside of 18.16% from the company’s previous close.

A number of other research analysts also recently issued reports on the stock. Robert W. Baird boosted their price objective on shares of Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Raymond James lowered 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 equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Construction Partners presently has a consensus rating of “Moderate Buy” and an average price target of $83.40.

Construction Partners Stock Performance

Construction Partners stock opened at $80.40 on Thursday. The company has a current ratio of 1.54, a quick ratio of 1.26 and a debt-to-equity ratio of 0.85. The firm has a market cap of $4.49 billion, a P/E ratio of 60.91, a P/E/G ratio of 0.98 and a beta of 0.75. Construction Partners has a 1-year low of $44.70 and a 1-year high of $103.69. The firm has a 50-day moving average of $91.84 and a 200-day moving average of $77.97.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings data on Thursday, November 21st. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $538.04 million. During the same quarter last year, the business posted $0.59 EPS. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. Sell-side analysts expect that Construction Partners will post 1.95 EPS for the current year.

Insider Buying and Selling

In other Construction Partners news, Director Charles E. Owens sold 46,596 shares of Construction Partners stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $101.33, for a total transaction of $4,721,572.68. Following the completion of the transaction, the director now owns 203,404 shares in the company, valued at approximately $20,610,927.32. The trade was a 18.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John L. Harper sold 6,000 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $94.41, for a total value 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 approximately $14,619,954.96. This represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 139,225 shares of company stock worth $13,904,358 in the last three months. 18.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Sheets Smith Wealth Management purchased a new position in Construction Partners in the 4th quarter worth approximately $632,000. Segall Bryant & Hamill LLC bought a new position in shares of Construction Partners during the third quarter valued at $10,377,000. Allspring Global Investments Holdings LLC boosted its position in shares of Construction Partners by 47.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 207,422 shares of the company’s stock valued at $14,478,000 after buying an additional 67,150 shares during the last quarter. Intech Investment Management LLC bought a new stake in Construction Partners in the 3rd quarter worth about $778,000. Finally, Artemis Investment Management LLP bought a new position in Construction Partners during the 4th quarter valued at about $18,893,000. 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.