Construction Partners (NASDAQ:ROAD) Price Target Cut to $100.00 by Analysts at Raymond James

Construction Partners (NASDAQ:ROAD - Get Free Report) had its target price reduced by investment analysts at Raymond James from $104.00 to $100.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a "strong-buy" rating on the stock. Raymond James' price objective suggests a potential upside of 11.64% from the company's current price.

Several other research analysts have also commented on the stock. DA Davidson restated a "neutral" rating and issued a $95.00 price objective on shares of Construction Partners in a report on Thursday, January 30th. Robert W. Baird lifted their price objective on Construction Partners from $100.00 to $102.00 and gave the company a "neutral" rating in a research report on Monday, February 10th.

Construction Partners Trading Up 3.1 %

Shares of ROAD stock traded up $2.73 during trading hours on Tuesday, reaching $89.57. The company's stock had a trading volume of 605,719 shares, compared to its average volume of 438,680. The company has a current ratio of 1.54, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46. Construction Partners has a one year low of $51.63 and a one year high of $103.69. The stock has a market capitalization of $5.00 billion, a P/E ratio of 83.71, a P/E/G ratio of 0.99 and a beta of 0.85. The firm's fifty day simple moving average is $74.95 and its 200 day simple moving average is $83.33.

Insider Buying and Selling

In other Construction Partners news, SVP John L. Harper sold 6,000 shares of the company's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $73.83, for a total value of $442,980.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Fred Julius Smith III bought 9,333 shares of the stock in a transaction dated Monday, April 14th. The shares were acquired at an average price of $73.83 per share, with a total value 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 approximately $689,055.39. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 16.36% of the stock is owned by company insiders.

Hedge Funds Weigh In On Construction Partners

Several institutional investors and hedge funds have recently modified their holdings of ROAD. Barclays PLC increased its stake in Construction Partners by 109.5% during the 3rd quarter. Barclays PLC now owns 101,463 shares of the company's stock valued at $7,082,000 after purchasing an additional 53,026 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Construction Partners during the third quarter valued at approximately $559,000. Franklin Resources Inc. purchased a new position in Construction Partners in the 3rd quarter worth approximately $273,000. Principal Financial Group Inc. lifted its position in Construction Partners by 4.1% in the 3rd quarter. Principal Financial Group Inc. now owns 40,215 shares of the company's stock valued at $2,807,000 after acquiring an additional 1,596 shares in the last quarter. Finally, USA Financial Formulas purchased a new stake in Construction Partners during the 4th quarter valued at $31,000. 94.83% of the stock is currently owned by institutional investors.

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.