Construction Partners (NASDAQ:ROAD) Sets New 52-Week High - Time to Buy?

Shares of Construction Partners, Inc. (NASDAQ:ROAD - Get Free Report) hit a new 52-week high on Tuesday . The stock traded as high as $105.66 and last traded at $103.67, with a volume of 25053 shares. The stock had previously closed at $102.54.

Wall Street Analyst Weigh In

Several research firms have recently commented on ROAD. Robert W. Baird lifted their price target on shares of Construction Partners from $100.00 to $102.00 and gave the company a "neutral" rating in a report on Monday, February 10th. DA Davidson reaffirmed a "neutral" rating and issued a $95.00 price target on shares of Construction Partners in a report on Thursday, January 30th. Finally, Raymond James decreased their price target on shares of Construction Partners from $104.00 to $100.00 and set a "strong-buy" rating for the company in a report on Tuesday, April 29th.

Construction Partners Price Performance

The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.23 and a current ratio of 1.54. The business's 50 day simple moving average is $85.09 and its 200-day simple moving average is $85.48. The stock has a market capitalization of $5.91 billion, a price-to-earnings ratio of 98.57, a price-to-earnings-growth ratio of 0.99 and a beta of 0.87.

Construction Partners (NASDAQ:ROAD - Get Free Report) last issued its quarterly earnings results on Friday, May 9th. The company reported $0.08 earnings per share for the quarter, topping analysts' consensus estimates of ($0.04) by $0.12. The company had revenue of $571.65 million during the quarter, compared to analyst estimates of $559.61 million. Construction Partners had a net margin of 2.82% and a return on equity of 11.94%. The business's revenue for the quarter was up 53.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.02) EPS. Research analysts anticipate that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Insider Transactions at Construction Partners

In related news, SVP John L. Harper sold 6,000 shares of the 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 directly owns 159,389 shares of the company's stock, valued at $11,767,689.87. This represents a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Fred Julius Smith III bought 9,333 shares of the business's stock in a transaction that occurred on Monday, April 14th. The shares were acquired at an average cost of $73.83 per share, with a total value of $689,055.39. Following the completion of the purchase, the chief executive officer now owns 9,333 shares of the company's stock, valued at approximately $689,055.39. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 16.36% of the company's stock.

Institutional Investors Weigh In On Construction Partners

Several hedge funds have recently made changes to their positions in the company. Strs Ohio purchased a new stake in shares of Construction Partners in the 1st quarter valued at approximately $165,000. Intech Investment Management LLC lifted its position in shares of Construction Partners by 11.4% in the 1st quarter. Intech Investment Management LLC now owns 24,292 shares of the company's stock valued at $1,746,000 after acquiring an additional 2,482 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Construction Partners by 11.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 96,191 shares of the company's stock valued at $6,913,000 after acquiring an additional 9,656 shares in the last quarter. Zimmer Partners LP purchased a new stake in shares of Construction Partners in the 1st quarter valued at approximately $10,062,000. Finally, Petrus Trust Company LTA increased its stake in Construction Partners by 59.4% in the 1st quarter. Petrus Trust Company LTA now owns 6,137 shares of the company's stock valued at $441,000 after buying an additional 2,288 shares during the period. Hedge funds and other institutional investors 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.