Construction Partners, Inc. (NASDAQ:ROAD - Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $111.98 and last traded at $108.90, with a volume of 37621 shares. The stock had previously closed at $110.36.
Analyst Upgrades and Downgrades
Separately, Raymond James lowered their price objective on shares of Construction Partners from $104.00 to $100.00 and set a "strong-buy" rating on the stock in a research report on Tuesday, April 29th.
Get Our Latest Stock Analysis on ROAD
Construction Partners Stock Up 0.6%
The business's fifty day moving average price is $92.01 and its two-hundred day moving average price is $86.34. The company has a current ratio of 1.54, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46. The firm has a market cap of $5.90 billion, a P/E ratio of 98.42, a P/E/G ratio of 0.99 and a beta of 0.97.
Construction Partners (NASDAQ:ROAD - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The company reported $0.08 EPS for the quarter, beating analysts' consensus estimates of ($0.04) by $0.12. The company had revenue of $571.65 million for 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 company's quarterly revenue was up 53.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.02) earnings per share. As a group, equities research analysts anticipate that Construction Partners, Inc. will post 1.96 EPS for the current year.
Insiders Place Their Bets
In other Construction Partners news, SVP John L. Harper sold 6,000 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The stock was 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 approximately $11,767,689.87. This trade represents a 3.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Fred Julius Smith III acquired 9,333 shares of the company's stock in a transaction dated Monday, April 14th. The stock was acquired at an average price of $73.83 per share, with a total value of $689,055.39. Following the purchase, the chief executive officer now owns 9,333 shares in the company, valued at approximately $689,055.39. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 16.36% of the company's stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in 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 last quarter. Invesco Ltd. increased its stake in shares of Construction Partners by 75.6% in the 4th quarter. Invesco Ltd. now owns 1,493,866 shares of the company's stock valued at $132,147,000 after acquiring an additional 642,987 shares during the last quarter. FMR LLC raised its holdings in 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 purchasing an additional 565,583 shares during the period. Artemis Investment Management LLP raised its position in shares of Construction Partners by 225.9% during the first quarter. Artemis Investment Management LLP now owns 695,949 shares of the company's stock worth $50,018,000 after purchasing an additional 482,374 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Construction Partners in the 4th quarter valued at approximately $42,527,000. 94.83% of the stock is owned by institutional investors.
About Construction Partners
(
Get Free Report)
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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