Construction Partners, Inc. (NASDAQ:ROAD) Director Sells $1,270,299.18 in Stock

Construction Partners, Inc. (NASDAQ:ROAD) Director Suntx Capital Ii Management Co sold 12,731 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $99.78, for a total transaction of $1,270,299.18. Following the completion of the transaction, the director now owns 17,000 shares in the company, valued at approximately $1,696,260. This trade represents a 42.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Construction Partners Stock Performance

Shares of NASDAQ:ROAD opened at $94.84 on Friday. The company’s 50 day moving average price is $87.82 and its two-hundred day moving average price is $70.05. Construction Partners, Inc. has a 12-month low of $39.79 and a 12-month high of $103.69. The firm has a market cap of $5.30 billion, a PE ratio of 71.85, a PEG ratio of 1.18 and a beta of 0.70. The company has a quick ratio of 1.26, a current ratio of 1.54 and a debt-to-equity ratio of 0.85.

Construction Partners (NASDAQ:ROAD) last announced 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 analyst estimates of $538.04 million. During the same quarter in the previous year, the company earned $0.59 EPS. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. Equities research analysts predict that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Institutional Trading of Construction Partners

A number of institutional investors and hedge funds have recently made changes to their positions in ROAD. Cetera Advisors LLC bought a new stake in shares of Construction Partners during the 1st quarter worth approximately $254,000. EFG Asset Management North America Corp. lifted its holdings in shares of Construction Partners by 13.1% during the 2nd quarter. EFG Asset Management North America Corp. now owns 47,569 shares of the company’s stock worth $2,624,000 after acquiring an additional 5,499 shares during the period. Conestoga Capital Advisors LLC lifted its holdings in shares of Construction Partners by 3.0% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 4,135,202 shares of the company’s stock worth $228,305,000 after acquiring an additional 120,155 shares during the period. Commonwealth Equity Services LLC bought a new stake in shares of Construction Partners during the 2nd quarter worth approximately $342,000. Finally, nVerses Capital LLC bought a new stake in shares of Construction Partners during the 2nd quarter worth approximately $116,000. Institutional investors own 94.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird increased their target price on shares of Construction Partners from $68.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Three investment 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 data from MarketBeat.com, Construction Partners has an average rating of “Moderate Buy” and an average target price of $69.00.

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.