Construction Partners (NASDAQ:ROAD) Price Target Lowered to $104.00 at Raymond James

Construction Partners (NASDAQ:ROAD) had its price target cut by Raymond James from $112.00 to $104.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a strong-buy rating on the stock.

Separately, Robert W. Baird lifted their price objective on 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 given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $75.40.

Construction Partners Price Performance

ROAD opened at $91.21 on Thursday. 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 company’s 50 day simple moving average is $93.71 and its 200-day simple moving average is $75.68. Construction Partners has a one year low of $40.85 and a one year high of $103.69. The stock has a market capitalization of $5.10 billion, a P/E ratio of 69.10, a price-to-earnings-growth ratio of 1.05 and a beta of 0.75.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings data on Thursday, November 21st. The company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). The firm had revenue of $538.16 million during the quarter, compared to the consensus estimate of $538.04 million. Construction Partners had a net margin of 3.78% and a return on equity of 12.90%. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.59 earnings per share. Sell-side analysts anticipate that Construction Partners will post 1.96 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Charles E. Owens sold 49,695 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $100.81, for a total transaction of $5,009,752.95. Following the completion of the transaction, the director now owns 130,291 shares in the company, valued at approximately $13,134,635.71. The trade was a 27.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Todd Keith Andrews sold 5,489 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $91.84, for a total transaction of $504,109.76. Following the completion of the sale, the chief accounting officer now directly owns 17,394 shares of the company’s stock, valued at $1,597,464.96. The trade was a 23.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 139,225 shares of company stock valued at $13,904,358 in the last 90 days. 18.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Construction Partners

Institutional investors and hedge funds have recently made changes to their positions in the company. Clearbridge Investments LLC bought a new position in Construction Partners during the second quarter worth about $20,360,000. Fred Alger Management LLC acquired a new stake in shares of Construction Partners during the third quarter worth about $16,535,000. Artemis Investment Management LLP bought a new position in shares of Construction Partners during the 4th quarter valued at about $18,893,000. Segall Bryant & Hamill LLC acquired a new position in shares of Construction Partners in the 3rd quarter valued at approximately $10,377,000. Finally, Driehaus Capital Management LLC increased its stake in Construction Partners by 31.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 569,440 shares of the company’s stock worth $31,439,000 after purchasing an additional 137,572 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

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.