Insider Selling: Construction Partners, Inc. (NASDAQ:ROAD) CAO Sells 2,511 Shares of Stock

Construction Partners, Inc. (NASDAQ:ROAD) CAO Todd Keith Andrews sold 2,511 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $95.86, for a total value of $240,704.46. Following the completion of the transaction, the chief accounting officer now owns 19,339 shares of the company’s stock, valued at approximately $1,853,836.54. This represents a 11.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Construction Partners Stock Down 6.7 %

ROAD traded down $6.47 during midday trading on Wednesday, reaching $89.43. 768,947 shares of the company were exchanged, compared to its average volume of 368,407. The company has a market cap of $5.00 billion, a price-to-earnings ratio of 67.75, a price-to-earnings-growth ratio of 1.15 and a beta of 0.70. Construction Partners, Inc. has a one year low of $39.79 and a one year high of $103.69. The company’s fifty day moving average price is $89.22 and its 200 day moving average price is $70.84. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.26 and a current ratio of 1.54.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings results on Thursday, November 21st. The company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). The company had revenue of $538.16 million during the quarter, compared to analysts’ expectations of $538.04 million. Construction Partners had a net margin of 3.78% and a return on equity of 12.90%. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.59 earnings per share. As a group, analysts expect that Construction Partners, Inc. will post 1.96 EPS for the current year.

Institutional Investors Weigh In On Construction Partners

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Ninepoint Partners LP purchased a new position in shares of Construction Partners in the second quarter worth $954,000. Segall Bryant & Hamill LLC purchased a new position in Construction Partners in the third quarter worth about $10,377,000. Engle Capital Management L.P. purchased a new position in shares of Construction Partners during the 2nd quarter worth $5,742,000. Allspring Global Investments Holdings LLC grew its position in shares of Construction Partners by 47.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 207,422 shares of the company’s stock valued at $14,478,000 after acquiring an additional 67,150 shares during the period. Finally, Westover Capital Advisors LLC purchased a new stake in shares of Construction Partners in the 2nd quarter worth $674,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird increased their price target on shares of Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Construction Partners has a consensus rating of “Moderate Buy” and a consensus price target of $69.00.

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.