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

Construction Partners, Inc. (NASDAQ:ROAD) was the recipient of a significant increase in short interest during the month of July. As of July 31st, there was short interest totaling 4,564,569 shares, an increase of 72.1% from the July 15th total of 2,652,051 shares. Based on an average trading volume of 1,617,705 shares, the short-interest ratio is currently 2.8 days. Approximately 9.6% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

ROAD has been the topic of a number of analyst reports. Truist Financial started coverage on shares of Construction Partners in a research note on Wednesday, June 3rd. They issued a “hold” rating and a $130.00 price target on the stock. Weiss Ratings upgraded shares of Construction Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Robert W. Baird decreased their price objective on shares of Construction Partners from $145.00 to $141.00 and set an “outperform” rating for the company in a report on Monday, August 10th. Zacks Research downgraded Construction Partners from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 16th. Finally, Raymond James Financial decreased their price target on Construction Partners from $161.00 to $150.00 and set a “strong-buy” rating for the company in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Construction Partners has an average rating of “Moderate Buy” and a consensus target price of $133.50.

Construction Partners Stock Performance

Shares of Construction Partners stock traded down $1.19 during trading hours on Monday, reaching $120.36. 231,517 shares of the stock traded hands, compared to its average volume of 692,133. Construction Partners has a one year low of $93.42 and a one year high of $151.00. The firm has a market capitalization of $6.83 billion, a price-to-earnings ratio of 47.20, a P/E/G ratio of 1.13 and a beta of 0.90. The company has a quick ratio of 1.26, a current ratio of 1.57 and a debt-to-equity ratio of 1.68. The company has a 50 day moving average price of $110.39 and a 200 day moving average price of $116.84.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings results on Friday, August 7th. The company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.07. The business had revenue of $999.42 million for the quarter, compared to analysts’ expectations of $948.77 million. Construction Partners had a net margin of 4.10% and a return on equity of 16.06%. The company’s revenue was up 28.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.81 EPS. On average, equities research analysts expect that Construction Partners will post 3.02 earnings per share for the current fiscal year.

Institutional Trading of Construction Partners

Several institutional investors have recently made changes to their positions in the business. NFSG Corp boosted its stake in Construction Partners by 8.7% in the 1st quarter. NFSG Corp now owns 1,251 shares of the company’s stock worth $139,000 after purchasing an additional 100 shares in the last quarter. ANB Bank increased its stake in Construction Partners by 3.4% during the 1st quarter. ANB Bank now owns 4,258 shares of the company’s stock valued at $473,000 after purchasing an additional 140 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Construction Partners by 0.6% in the first quarter. The Manufacturers Life Insurance Company now owns 23,151 shares of the company’s stock worth $2,573,000 after buying an additional 149 shares during the last quarter. &PARTNERS raised its holdings in shares of Construction Partners by 2.5% in the fourth quarter. &PARTNERS now owns 6,899 shares of the company’s stock worth $749,000 after buying an additional 167 shares during the last quarter. Finally, Morse Asset Management Inc lifted its stake in shares of Construction Partners by 300.0% during the third quarter. Morse Asset Management Inc now owns 240 shares of the company’s stock worth $30,000 after buying an additional 180 shares during the period. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Construction Partners Company Profile

Construction Partners, Inc (NASDAQ: ROAD) is a specialty contractor and infrastructure solutions provider focused on road building, paving, site development and aggregate production. The company delivers a comprehensive suite of civil construction services, including roadway paving and milling, site grading and preparation, stormwater and utility installation, and full-scale asphalt plant operations. By integrating materials production with contracting capabilities, the firm aims to streamline project delivery and maintain quality control across its contracting and materials businesses.

At the heart of Construction Partners’ operations are its network of asphalt plants, quarries and aggregate production facilities.