Construction Partners (NASDAQ:ROAD) Sets New 12-Month High - Still a Buy?

Shares of Construction Partners, Inc. (NASDAQ:ROAD - Get Free Report) reached a new 52-week high on Monday . The company traded as high as $111.98 and last traded at $108.90, with a volume of 37621 shares trading hands. The stock had previously closed at $110.36.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ROAD. Raymond James reduced their target price on shares of Construction Partners from $104.00 to $100.00 and set a "strong-buy" rating on the stock in a report on Tuesday, April 29th. Robert W. Baird upped 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 Stock Performance

The firm has a 50-day moving average of $89.39 and a two-hundred day moving average of $86.04. 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 $6.02 billion, a PE ratio of 100.59, a PEG ratio of 0.99 and a beta of 0.97.

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

Insider Transactions at Construction Partners

In other Construction Partners news, CEO Fred Julius Smith III bought 9,333 shares of Construction Partners stock in a transaction on Monday, April 14th. The shares were bought at an average price of $73.83 per share, for a total transaction of $689,055.39. Following the completion of the transaction, 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 purchase was disclosed in a document filed with the SEC, which is available at this link. Also, SVP John L. Harper sold 6,000 shares of Construction Partners stock in a transaction on Monday, April 14th. The shares were sold at an average price of $73.83, for a total value 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. This represents a 3.63% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 16.36% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ROAD. 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. lifted its position in Construction Partners by 75.6% during the 4th quarter. Invesco Ltd. now owns 1,493,866 shares of the company's stock worth $132,147,000 after acquiring an additional 642,987 shares during the period. FMR LLC lifted its position in Construction Partners by 32.1% during the 4th 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 during the period. Artemis Investment Management LLP lifted its position in Construction Partners by 225.9% during the 1st quarter. Artemis Investment Management LLP now owns 695,949 shares of the company's stock worth $50,018,000 after acquiring an additional 482,374 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Construction Partners during the 4th quarter worth approximately $42,527,000. 94.83% of the stock is owned by institutional investors and hedge funds.

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.

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