Shares of Construction Partners, Inc. (NASDAQ:ROAD – Get Free Report) hit a new 52-week high during trading on Wednesday . The company traded as high as $49.66 and last traded at $49.50, with a volume of 143241 shares changing hands. The stock had previously closed at $47.94.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on the stock. Raymond James increased their target price on shares of Construction Partners from $45.00 to $49.00 and gave the company a “strong-buy” rating in a research note on Friday, December 1st. Stifel Nicolaus increased their target price on shares of Construction Partners from $45.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, December 19th.
Construction Partners Stock Up 3.9 %
The firm has a market capitalization of $2.63 billion, a P/E ratio of 53.58 and a beta of 0.64. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.39 and a current ratio of 1.70. The business’s fifty day moving average price is $43.12 and its two-hundred day moving average price is $38.97.
Construction Partners (NASDAQ:ROAD – Get Free Report) last released its quarterly earnings results on Wednesday, November 29th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. Construction Partners had a net margin of 3.13% and a return on equity of 10.27%. The business had revenue of $475.00 million for the quarter, compared to analysts’ expectations of $465.32 million. During the same period last year, the business earned $0.25 EPS. The company’s revenue was up 20.8% compared to the same quarter last year. Equities analysts expect that Construction Partners, Inc. will post 1.27 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, Director Suntx Capital Ii Management Co sold 50,000 shares of Construction Partners stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $44.21, for a total value of $2,210,500.00. Following the completion of the sale, the director now directly owns 128,134 shares in the company, valued at approximately $5,664,804.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 18.80% of the stock is owned by company insiders.
Institutional Trading of Construction Partners
Several institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its holdings in shares of Construction Partners by 11.7% during the 1st quarter. Bank of New York Mellon Corp now owns 573,400 shares of the company’s stock valued at $15,012,000 after purchasing an additional 59,957 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Construction Partners during the 1st quarter valued at approximately $229,000. MetLife Investment Management LLC increased its holdings in Construction Partners by 82.3% in the 1st quarter. MetLife Investment Management LLC now owns 21,313 shares of the company’s stock worth $558,000 after acquiring an additional 9,622 shares in the last quarter. Rhumbline Advisers increased its holdings in Construction Partners by 38.5% in the 1st quarter. Rhumbline Advisers now owns 34,539 shares of the company’s stock worth $904,000 after acquiring an additional 9,598 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in Construction Partners by 23.2% in the 1st quarter. BlackRock Inc. now owns 2,655,171 shares of the company’s stock worth $69,511,000 after acquiring an additional 500,697 shares in the last quarter. 77.19% 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.