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

Construction Partners, Inc. (NASDAQ:ROAD - Get Free Report)'s stock price dropped 4.5% on Tuesday . The company traded as low as $101.82 and last traded at $100.00. Approximately 107,409 shares were traded during trading, a decline of 76% from the average daily volume of 452,150 shares. The stock had previously closed at $104.70.

Wall Street Analyst Weigh In

Separately, Raymond James lowered their price objective on shares of Construction Partners from $104.00 to $100.00 and set a "strong-buy" rating for the company in a research report on Tuesday, April 29th.

Construction Partners Stock Performance

The firm has a market capitalization of $5.86 billion, a price-to-earnings ratio of 97.81, a PEG ratio of 0.99 and a beta of 0.97. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.54 and a quick ratio of 1.23. The firm has a 50 day moving average price of $90.58 and a 200-day moving average price of $86.19.

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, topping the consensus estimate of ($0.04) by $0.12. The business had revenue of $571.65 million during the quarter, compared to analysts' expectations of $559.61 million. Construction Partners had a net margin of 2.82% and a return on equity of 11.94%. The company's revenue for the quarter was up 53.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.02) EPS. As a group, sell-side analysts expect that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

Insider Transactions at Construction Partners

In related news, 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 transaction of $442,980.00. Following the sale, the senior vice president now directly owns 159,389 shares in the company, valued at $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 is available through the SEC website. Also, CEO Fred Julius Smith III purchased 9,333 shares of the business's stock in a transaction that occurred 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 purchase, the chief executive officer now directly owns 9,333 shares in the company, valued at $689,055.39. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 16.36% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Montag A & Associates Inc. acquired a new position in Construction Partners in the first quarter valued at $29,000. Versant Capital Management Inc acquired a new position in Construction Partners in the first quarter valued at $30,000. Golden State Wealth Management LLC acquired a new position in Construction Partners in the fourth quarter valued at $50,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Construction Partners in the first quarter valued at $60,000. Finally, Johnson Financial Group Inc. acquired a new position in Construction Partners in the fourth quarter valued at $66,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

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.