Construction Partners, Inc. (NASDAQ:ROAD) Short Interest Update

Construction Partners, Inc. (NASDAQ:ROAD - Get Free Report) was the target of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 2,200,000 shares, an increase of 50.7% from the March 15th total of 1,460,000 shares. Based on an average daily trading volume, of 355,500 shares, the short-interest ratio is currently 6.2 days.

Construction Partners Trading Down 1.3 %

Shares of Construction Partners stock traded down $0.71 on Monday, hitting $55.00. The stock had a trading volume of 306,174 shares, compared to its average volume of 351,725. The stock has a 50 day moving average of $51.55 and a 200 day moving average of $45.07. Construction Partners has a twelve month low of $24.20 and a twelve month high of $58.65. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.39 and a current ratio of 1.75. The firm has a market capitalization of $2.90 billion, a P/E ratio of 50.93, a PEG ratio of 1.44 and a beta of 0.65.

Construction Partners (NASDAQ:ROAD - Get Free Report) last released its quarterly earnings data on Friday, February 9th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.06. Construction Partners had a return on equity of 11.56% and a net margin of 3.52%. The company had revenue of $396.51 million during the quarter, compared to the consensus estimate of $393.62 million. During the same quarter in the prior year, the firm posted $0.04 earnings per share. The firm's revenue was up 16.0% compared to the same quarter last year. Sell-side analysts expect that Construction Partners will post 1.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on ROAD shares. Stifel Nicolaus upped their price objective on shares of Construction Partners from $51.00 to $57.00 and gave the company a "buy" rating in a report on Monday, February 12th. Sidoti downgraded shares of Construction Partners from a "buy" rating to a "neutral" rating and set a $59.00 price objective on the stock. in a report on Thursday, March 28th. Finally, Robert W. Baird downgraded shares of Construction Partners from an "outperform" rating to a "neutral" rating and upped their price objective for the company from $46.00 to $50.00 in a report on Monday, February 12th. Two investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $52.00.

Institutional Trading of Construction Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ROAD. BlackRock Inc. lifted its holdings in shares of Construction Partners by 4.8% in the 2nd quarter. BlackRock Inc. now owns 3,075,247 shares of the company's stock worth $96,532,000 after purchasing an additional 140,572 shares in the last quarter. Vanguard Group Inc. lifted its stake in Construction Partners by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 2,346,238 shares of the company's stock valued at $102,108,000 after acquiring an additional 55,752 shares in the last quarter. Invesco Ltd. lifted its stake in Construction Partners by 2.6% during the 3rd quarter. Invesco Ltd. now owns 2,225,619 shares of the company's stock valued at $81,369,000 after acquiring an additional 56,595 shares in the last quarter. American Century Companies Inc. lifted its stake in Construction Partners by 15.0% during the 3rd quarter. American Century Companies Inc. now owns 1,316,081 shares of the company's stock valued at $48,116,000 after acquiring an additional 172,109 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Construction Partners by 13.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 893,748 shares of the company's stock valued at $38,897,000 after acquiring an additional 105,346 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company's stock.

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.