Construction Partners (NASDAQ:ROAD) Price Target Raised to $102.00 at Robert W. Baird

Construction Partners (NASDAQ:ROAD) had its price objective boosted by stock analysts at Robert W. Baird from $100.00 to $102.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s target price would indicate a potential upside of 17.57% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. DA Davidson reissued a “neutral” rating and set a $95.00 price objective on shares of Construction Partners in a research report on Thursday, January 30th. Raymond James cut their price target on Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating on the stock in a report on Thursday, January 16th. 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 company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $85.40.

Construction Partners Stock Performance

ROAD stock opened at $86.76 on Monday. The firm has a market cap of $4.85 billion, a PE ratio of 65.73, a price-to-earnings-growth ratio of 1.25 and a beta of 0.74. 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 stock has a 50-day moving average price of $90.02 and a 200-day moving average price of $79.02. Construction Partners has a 1-year low of $44.77 and a 1-year high of $103.69.

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). The company 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 business’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.59 EPS. As a group, equities research analysts expect that Construction Partners will post 1.95 earnings per share for the current year.

Insider Transactions at Construction Partners

In related news, CAO Todd Keith Andrews sold 5,489 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $91.84, for a total transaction of $504,109.76. Following the transaction, the chief accounting officer now directly owns 17,394 shares in the company, valued at approximately $1,597,464.96. The trade was a 23.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles E. Owens sold 46,596 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $101.33, for a total value of $4,721,572.68. Following the completion of the transaction, the director now directly owns 203,404 shares of the company’s stock, valued at approximately $20,610,927.32. This represents a 18.64 % 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 valued at $13,904,358 over the last three months. Corporate insiders own 16.36% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ROAD. AQR Capital Management LLC increased its holdings in Construction Partners by 25.0% in the 2nd quarter. AQR Capital Management LLC now owns 9,574 shares of the company’s stock worth $529,000 after acquiring an additional 1,912 shares during the last quarter. GAMMA Investing LLC boosted its position in Construction Partners by 24.4% during the third quarter. GAMMA Investing LLC now owns 873 shares of the company’s stock worth $61,000 after purchasing an additional 171 shares during the period. Creative Planning increased its stake in shares of Construction Partners by 22.8% in the third quarter. Creative Planning now owns 7,060 shares of the company’s stock worth $493,000 after purchasing an additional 1,311 shares in the last quarter. NBC Securities Inc. raised its position in shares of Construction Partners by 36.9% in the third quarter. NBC Securities Inc. now owns 4,927 shares of the company’s stock valued at $343,000 after purchasing an additional 1,327 shares during the period. Finally, nVerses Capital LLC lifted its stake in shares of Construction Partners by 19.0% during the 3rd quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock valued at $174,000 after buying an additional 400 shares in the last quarter. 94.83% of the stock is owned by institutional investors.

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.