Construction Partners (NASDAQ:ROAD) Trading Down 4.5% – What’s Next?

Construction Partners, Inc. (NASDAQ:ROAD)’s stock price dropped 4.5% during trading on Tuesday . The company traded as low as $101.82 and last traded at $100.00. Approximately 107,409 shares traded hands during trading, a decline of 76% from the average daily volume of 452,150 shares. The stock had previously closed at $104.70.

Wall Street Analyst Weigh In

Several brokerages recently commented on ROAD. Raymond James decreased their price target on Construction Partners from $104.00 to $100.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, April 29th. Robert W. Baird upped their price objective on shares of Construction Partners from $100.00 to $102.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th.

Construction Partners Trading Down 3.6%

The business has a 50 day simple moving average of $89.96 and a 200 day simple moving average of $86.07. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.54 and a quick ratio of 1.23. The company has a market cap of $5.66 billion, a price-to-earnings ratio of 94.36, a price-to-earnings-growth ratio of 0.99 and a beta of 0.97.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings results on Friday, May 9th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.12. The business had revenue of $571.65 million for the quarter, compared to the consensus estimate of $559.61 million. Construction Partners had a net margin of 2.82% and a return on equity of 11.94%. The firm’s quarterly revenue was up 53.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.02) EPS. As a group, equities analysts forecast that Construction Partners, Inc. will post 1.96 EPS for the current year.

Insider Activity

In other news, SVP John L. Harper sold 6,000 shares of Construction Partners stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $73.83, for a total transaction of $442,980.00. Following the completion of the sale, the senior vice president now owns 159,389 shares in the company, valued at $11,767,689.87. The trade was a 3.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Fred Julius Smith III acquired 9,333 shares of the business’s stock in a transaction that occurred on Monday, April 14th. The stock was acquired at an average price of $73.83 per share, for a total transaction of $689,055.39. Following the completion of the acquisition, the chief executive officer now directly owns 9,333 shares of the company’s stock, valued at $689,055.39. This trade represents a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. 16.36% of the stock is owned by insiders.

Institutional Trading of Construction Partners

Institutional investors and hedge funds have recently modified their holdings of the stock. Montag A & Associates Inc. acquired a new position in Construction Partners during the first quarter valued at approximately $29,000. Versant Capital Management Inc bought a new stake in shares of Construction Partners in the 1st quarter valued at $30,000. Golden State Wealth Management LLC acquired a new stake in Construction Partners during the 4th quarter worth $50,000. Johnson Financial Group Inc. bought a new position in Construction Partners during the fourth quarter worth about $66,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in Construction Partners in the first quarter valued at about $60,000. 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.