John L. Harper Sells 6,000 Shares of Construction Partners, Inc. (NASDAQ:ROAD) Stock

Construction Partners, Inc. (NASDAQ:ROAD) SVP John L. Harper sold 6,000 shares of Construction Partners stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $94.41, for a total transaction of $566,460.00. Following the completion of the sale, the senior vice president now owns 154,856 shares of the company’s stock, valued at approximately $14,619,954.96. The trade was a 3.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Construction Partners Stock Performance

Shares of Construction Partners stock opened at $89.43 on Thursday. The company has a current ratio of 1.54, a quick ratio of 1.26 and a debt-to-equity ratio of 0.85. The company has a market cap of $5.00 billion, a PE ratio of 67.75, a price-to-earnings-growth ratio of 1.15 and a beta of 0.70. The company has a 50 day moving average of $89.22 and a 200-day moving average of $70.84. Construction Partners, Inc. has a 1-year low of $39.79 and a 1-year high of $103.69.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings data on Thursday, November 21st. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.01). The firm had revenue of $538.16 million for the quarter, compared to analyst estimates of $538.04 million. Construction Partners had a net margin of 3.78% and a return on equity of 12.90%. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 earnings per share. As a group, equities research analysts forecast that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird lifted their price objective on Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Three 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $69.00.

Institutional Trading of Construction Partners

Institutional investors and hedge funds have recently modified their holdings of the business. Conestoga Capital Advisors LLC grew its position in Construction Partners by 3.0% in the second quarter. Conestoga Capital Advisors LLC now owns 4,135,202 shares of the company’s stock valued at $228,305,000 after acquiring an additional 120,155 shares during the last quarter. State Street Corp boosted its stake in shares of Construction Partners by 2.7% in the 3rd quarter. State Street Corp now owns 1,004,867 shares of the company’s stock valued at $70,140,000 after purchasing an additional 26,189 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Construction Partners by 2.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 972,400 shares of the company’s stock valued at $53,687,000 after purchasing an additional 24,828 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Construction Partners by 8.0% during the 2nd quarter. American Century Companies Inc. now owns 949,123 shares of the company’s stock valued at $52,401,000 after purchasing an additional 70,099 shares during the last quarter. Finally, Driehaus Capital Management LLC increased its position in Construction Partners by 31.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 569,440 shares of the company’s stock worth $31,439,000 after purchasing an additional 137,572 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors.

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.