Construction Partners (NASDAQ:ROAD) Hits New 1-Year High at $66.81

Construction Partners, Inc. (NASDAQ:ROAD) hit a new 52-week high during trading on Monday . The stock traded as high as $66.81 and last traded at $66.72, with a volume of 100942 shares traded. The stock had previously closed at $65.09.

Analyst Ratings Changes

Several research analysts have weighed in on ROAD shares. Raymond James upped their target price on shares of Construction Partners from $69.00 to $72.00 and gave the stock a “strong-buy” rating in a research report on Monday, August 12th. DA Davidson lifted their price objective on Construction Partners from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Finally, Stifel Nicolaus boosted their target price on Construction Partners from $61.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. 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 company presently has an average rating of “Moderate Buy” and an average price target of $59.67.

Construction Partners Stock Up 3.2 %

The company has a debt-to-equity ratio of 0.82, a current ratio of 1.60 and a quick ratio of 1.30. The firm has a market capitalization of $3.54 billion, a price-to-earnings ratio of 57.39, a price-to-earnings-growth ratio of 1.43 and a beta of 0.67. The firm’s 50-day moving average price is $60.28 and its 200 day moving average price is $56.64.

Construction Partners (NASDAQ:ROAD) last announced its earnings results on Friday, August 9th. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. Construction Partners had a return on equity of 13.34% and a net margin of 4.01%. The firm had revenue of $517.80 million for the quarter, compared to analysts’ expectations of $503.57 million. During the same quarter in the prior year, the firm earned $0.41 EPS. Construction Partners’s quarterly revenue was up 22.7% on a year-over-year basis. Sell-side analysts expect that Construction Partners, Inc. will post 1.43 EPS for the current year.

Insider Activity at Construction Partners

In other news, Director Mark R. Matteson sold 25,408 shares of Construction Partners stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $61.97, for a total transaction of $1,574,533.76. Following the completion of the sale, the director now directly owns 102,592 shares in the company, valued at $6,357,626.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 18.80% of the company’s stock.

Institutional Investors Weigh In On Construction Partners

Several hedge funds have recently made changes to their positions in ROAD. Charles Schwab Investment Management Inc. lifted its position in Construction Partners by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 442,466 shares of the company’s stock worth $19,256,000 after buying an additional 3,647 shares during the period. Teacher Retirement System of Texas purchased a new stake in Construction Partners in the fourth quarter valued at approximately $583,000. BNP Paribas Financial Markets increased its position in Construction Partners by 2.0% during the fourth quarter. BNP Paribas Financial Markets now owns 38,829 shares of the company’s stock worth $1,690,000 after purchasing an additional 745 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Construction Partners by 13.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 893,748 shares of the company’s stock worth $38,897,000 after purchasing an additional 105,346 shares during the period. Finally, Principal Financial Group Inc. acquired a new position in shares of Construction Partners in the 4th quarter valued at $939,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

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.