Construction Partners (NASDAQ:ROAD) Stock Price Down 4.5% - What's Next?

Shares of Construction Partners, Inc. (NASDAQ:ROAD - Get Free Report) fell 4.5% during mid-day trading on Tuesday . The company traded as low as $101.82 and last traded at $100.00. 107,409 shares changed hands during trading, a decline of 76% from the average session volume of 452,150 shares. The stock had previously closed at $104.70.

Analyst Upgrades and Downgrades

Separately, Raymond James lowered their price target on Construction Partners from $104.00 to $100.00 and set a "strong-buy" rating on the stock in a report on Tuesday, April 29th.

Construction Partners Trading Down 1.6%

The business's 50-day simple moving average is $92.01 and its 200-day simple moving average is $86.34. The company has a market cap of $5.81 billion, a PE ratio of 96.89, a P/E/G ratio of 0.99 and a beta of 0.97. 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 (NASDAQ:ROAD - Get Free Report) last released its quarterly earnings data on Friday, May 9th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.04) by $0.12. Construction Partners had a return on equity of 11.94% and a net margin of 2.82%. The firm had revenue of $571.65 million during the quarter, compared to analysts' expectations of $559.61 million. During the same quarter last year, the firm earned ($0.02) earnings per share. The business's revenue for the quarter was up 53.9% on a year-over-year basis. As a group, analysts expect that Construction Partners, Inc. will post 1.96 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP John L. Harper sold 6,000 shares of the business's stock in a transaction 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 transaction, the senior vice president now owns 159,389 shares of the company's stock, valued at approximately $11,767,689.87. The trade was a 3.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Fred Julius Smith III purchased 9,333 shares of the firm's stock in a transaction on Monday, April 14th. The stock was 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 in the company, 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. Insiders own 16.36% of the company's stock.

Institutional Investors Weigh In On Construction Partners

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Construction Partners by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 3,666,331 shares of the company's stock worth $263,499,000 after acquiring an additional 173,963 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Construction Partners by 0.5% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,592,079 shares of the company's stock valued at $186,293,000 after buying an additional 12,808 shares in the last quarter. FMR LLC boosted its position in shares of Construction Partners by 32.1% during the 4th quarter. FMR LLC now owns 2,329,801 shares of the company's stock valued at $206,094,000 after acquiring an additional 565,583 shares in the last quarter. Invesco Ltd. raised its position in 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 purchasing an additional 642,987 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in Construction Partners by 2.6% during the fourth quarter. Bank of America Corp DE now owns 1,119,051 shares of the company's stock valued at $98,991,000 after purchasing an additional 28,723 shares in the last quarter. 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.