John L. Harper Sells 6,000 Shares of Construction Partners, Inc. (NASDAQ:ROAD) Stock

Construction Partners, Inc. (NASDAQ:ROAD - Get Free Report) SVP John L. Harper sold 6,000 shares of the business's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $73.83, for a total value of $442,980.00. Following the transaction, the senior vice president now owns 159,389 shares in the company, valued at approximately $11,767,689.87. This represents a 3.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Construction Partners Price Performance

NASDAQ:ROAD traded down $1.02 during trading hours on Friday, reaching $77.45. 632,114 shares of the company's stock were exchanged, compared to its average volume of 437,566. The company has a quick ratio of 1.23, a current ratio of 1.54 and a debt-to-equity ratio of 1.46. The company has a market capitalization of $4.33 billion, a P/E ratio of 72.38, a price-to-earnings-growth ratio of 0.99 and a beta of 0.85. Construction Partners, Inc. has a 12 month low of $49.45 and a 12 month high of $103.69. The business's 50-day simple moving average is $74.01 and its two-hundred day simple moving average is $82.68.

Analysts Set New Price Targets

Several brokerages have weighed in on ROAD. DA Davidson reissued a "neutral" rating and set a $95.00 price objective on shares of Construction Partners in a report on Thursday, January 30th. Raymond James cut their price target on Construction Partners from $112.00 to $104.00 and set a "strong-buy" rating on the stock in a report on Thursday, January 16th. Finally, Robert W. Baird raised their target price on shares of Construction Partners from $100.00 to $102.00 and gave the company a "neutral" rating in a research note on Monday, February 10th.

Institutional Investors Weigh In On Construction Partners

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of 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 purchasing an additional 1,046,617 shares during the period. Invesco Ltd. boosted its holdings in shares of Construction Partners by 75.6% in the fourth quarter. Invesco Ltd. now owns 1,493,866 shares of the company's stock worth $132,147,000 after buying an additional 642,987 shares during the period. FMR LLC increased its position in shares of Construction Partners by 32.1% in the fourth quarter. FMR LLC now owns 2,329,801 shares of the company's stock worth $206,094,000 after acquiring an additional 565,583 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Construction Partners during the fourth quarter valued at approximately $42,527,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Construction Partners by 197.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 616,032 shares of the company's stock valued at $54,104,000 after acquiring an additional 408,610 shares during the period. 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.