Construction Partners (NASDAQ:ROAD) Trading Down 4.1% – Should You Sell?

Construction Partners, Inc. (NASDAQ:ROAD) dropped 4.1% on Monday . The stock traded as low as $82.22 and last traded at $83.21. Approximately 97,340 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 625,780 shares. The stock had previously closed at $86.76.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ROAD. DA Davidson reaffirmed a “neutral” rating and issued a $95.00 price target on shares of Construction Partners in a research note on Thursday, January 30th. Raymond James dropped their target price 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. Finally, Robert W. Baird increased their target price on shares of Construction Partners from $100.00 to $102.00 and gave the company a “neutral” rating in a research report on Monday. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $85.40.

Construction Partners Price Performance

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 stock has a 50 day simple moving average of $89.26 and a two-hundred day simple moving average of $79.31. The company has a market cap of $4.54 billion, a price-to-earnings ratio of 61.52, a price-to-earnings-growth ratio of 1.25 and a beta of 0.74.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings results 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 net margin of 3.78% and a return on equity of 12.90%. The firm had revenue of $538.16 million for the quarter, compared to analyst estimates of $538.04 million. During the same period in the previous year, the firm posted $0.59 EPS. The company’s revenue was up 13.3% compared to the same quarter last year. On average, equities research analysts predict that Construction Partners, Inc. will post 1.95 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Todd Keith Andrews sold 2,511 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $95.86, for a total transaction of $240,704.46. Following the completion of the sale, the chief accounting officer now directly owns 19,339 shares of the company’s stock, valued at approximately $1,853,836.54. This trade represents a 11.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John L. Harper sold 6,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $94.41, for a total transaction of $566,460.00. Following the completion of the transaction, the senior vice president now directly owns 154,856 shares in the company, valued at $14,619,954.96. The trade was a 3.73 % decrease in their position. 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 in the last 90 days. Company insiders own 16.36% of the company’s stock.

Hedge Funds Weigh In On Construction Partners

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Construction Partners by 42.8% in the 4th quarter. Vanguard Group Inc. now owns 3,492,368 shares of the company’s stock valued at $308,935,000 after buying an additional 1,046,617 shares during the period. State Street Corp raised its stake in shares of Construction Partners by 2.7% in the third quarter. State Street Corp now owns 1,004,867 shares of the company’s stock valued at $70,140,000 after acquiring an additional 26,189 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Construction Partners by 197.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 616,032 shares of the company’s stock valued at $54,104,000 after purchasing an additional 408,610 shares during the period. Raymond James Financial Inc. acquired a new position in Construction Partners during the 4th quarter worth $42,527,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Construction Partners by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 463,000 shares of the company’s stock worth $40,957,000 after purchasing an additional 9,788 shares during the period. 94.83% of the stock is owned by institutional investors and hedge funds.

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.