Construction Partners, Inc. (NASDAQ:ROAD – Get Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $92.78, but opened at $85.17. Construction Partners shares last traded at $83.72, with a volume of 419,152 shares trading hands.
Wall Street Analyst Weigh In
ROAD has been the subject of a number of research reports. Robert W. Baird boosted their price target on shares of Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Raymond James reduced their price target on shares of Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating for the company in a research report on Thursday, January 16th. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $75.40.
Get Our Latest Analysis on Construction Partners
Construction Partners Stock Down 10.9 %
Construction Partners (NASDAQ:ROAD – Get Free Report) last posted its quarterly earnings results on Thursday, November 21st. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.01). The firm had revenue of $538.16 million for the quarter, compared to analysts’ expectations of $538.04 million. Construction Partners had a return on equity of 12.90% and a net margin of 3.78%. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.59 earnings per share. On average, equities research analysts predict that Construction Partners, Inc. will post 1.95 earnings per share for the current year.
Insiders Place Their Bets
In other news, Director Charles E. Owens sold 49,695 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $100.81, for a total value of $5,009,752.95. Following the sale, the director now directly owns 130,291 shares in the company, valued at $13,134,635.71. This represents a 27.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Todd Keith Andrews sold 5,489 shares of the 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 owns 17,394 shares in the company, valued at $1,597,464.96. This represents a 23.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 139,225 shares of company stock worth $13,904,358. 18.80% of the stock is owned by company insiders.
Hedge Funds Weigh In On Construction Partners
A number of hedge funds have recently made changes to their positions in the stock. USA Financial Formulas acquired a new position in shares of Construction Partners during the 4th quarter valued at $31,000. Nisa Investment Advisors LLC lifted its holdings in shares of Construction Partners by 400.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 541 shares of the company’s stock valued at $48,000 after acquiring an additional 433 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Construction Partners by 24.4% during the 3rd quarter. GAMMA Investing LLC now owns 873 shares of the company’s stock valued at $61,000 after acquiring an additional 171 shares in the last quarter. KBC Group NV lifted its holdings in shares of Construction Partners by 35.0% during the 3rd quarter. KBC Group NV now owns 1,417 shares of the company’s stock valued at $99,000 after acquiring an additional 367 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Construction Partners by 55.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,831 shares of the company’s stock valued at $101,000 after acquiring an additional 653 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.
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