Construction Partners (NASDAQ:ROAD) Sets New 12-Month Low on Analyst Downgrade

Construction Partners, Inc. (NASDAQ:ROAD)’s share price reached a new 52-week low during trading on Wednesday after Raymond James lowered their price target on the stock from $104.00 to $100.00. Raymond James currently has a strong-buy rating on the stock. Construction Partners traded as low as $77.76 and last traded at $82.14, with a volume of 317455 shares trading hands. The stock had previously closed at $81.17.

ROAD has been the topic of several other reports. Robert W. Baird lifted their target price on shares of Construction Partners from $100.00 to $102.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. DA Davidson reiterated a “neutral” rating and set a $95.00 price target on shares of Construction Partners in a report on Thursday, January 30th.

Insider Activity at Construction Partners

In other Construction Partners news, SVP John L. Harper sold 6,000 shares of Construction Partners stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $73.83, for a total value of $442,980.00. Following the completion of the sale, the senior vice president now directly owns 159,389 shares in the company, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Fred Julius Smith III acquired 9,333 shares of Construction Partners stock in a transaction dated Monday, April 14th. The shares were bought at an average cost of $73.83 per share, with a total value of $689,055.39. Following the transaction, the chief executive officer now owns 9,333 shares in the company, valued at approximately $689,055.39. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 16.36% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Construction Partners

Large investors have recently bought and sold shares of the stock. Barclays PLC increased its position in Construction Partners by 109.5% in the 3rd quarter. Barclays PLC now owns 101,463 shares of the company’s stock valued at $7,082,000 after buying an additional 53,026 shares in the last quarter. Virtu Financial LLC acquired a new stake in Construction Partners in the third quarter valued at approximately $559,000. Franklin Resources Inc. bought a new stake in shares of Construction Partners during the third quarter valued at approximately $273,000. Principal Financial Group Inc. raised its position in shares of Construction Partners by 4.1% during the third quarter. Principal Financial Group Inc. now owns 40,215 shares of the company’s stock worth $2,807,000 after purchasing an additional 1,596 shares during the period. Finally, USA Financial Formulas bought a new position in shares of Construction Partners in the 4th quarter worth $31,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Construction Partners Trading Up 5.7 %

The firm has a market cap of $4.85 billion, a price-to-earnings ratio of 81.16, a P/E/G ratio of 0.99 and a beta of 0.85. The firm’s 50-day moving average is $74.56 and its 200-day moving average is $83.17. 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 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.