Short Interest in Construction Partners Inc (NASDAQ:ROAD) Expands By 21.5%

Construction Partners Inc (NASDAQ:ROAD) was the recipient of a large growth in short interest in the month of November. As of November 29th, there was short interest totalling 702,700 shares, a growth of 21.5% from the November 14th total of 578,400 shares. Approximately 3.8% of the shares of the company are short sold. Based on an average daily trading volume, of 299,900 shares, the days-to-cover ratio is currently 2.3 days.

Several equities research analysts have recently weighed in on the stock. ValuEngine raised shares of Construction Partners from a “sell” rating to a “hold” rating in a report on Tuesday. Imperial Capital upped their target price on shares of Construction Partners from $17.25 to $18.50 and gave the stock an “outperform” rating in a report on Wednesday. Zacks Investment Research lowered shares of Construction Partners from a “hold” rating to a “strong sell” rating in a report on Friday. DA Davidson upped their target price on shares of Construction Partners to $20.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Bank of America assumed coverage on shares of Construction Partners in a report on Friday, December 6th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Construction Partners presently has a consensus rating of “Buy” and an average price target of $18.40.

Shares of ROAD traded up $0.01 during trading hours on Friday, hitting $17.18. The stock had a trading volume of 296,825 shares, compared to its average volume of 310,442. The company’s fifty day moving average is $18.35 and its two-hundred day moving average is $15.72. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.97 and a quick ratio of 1.69. Construction Partners has a 52 week low of $7.70 and a 52 week high of $20.79. The stock has a market capitalization of $885.97 million, a price-to-earnings ratio of 20.61, a P/E/G ratio of 7.71 and a beta of 1.95.

Construction Partners (NASDAQ:ROAD) last posted its earnings results on Tuesday, December 10th. The company reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.02). Construction Partners had a return on equity of 13.77% and a net margin of 5.51%. The firm had revenue of $237.30 million during the quarter, compared to the consensus estimate of $250.47 million. During the same period in the previous year, the company posted $0.29 EPS. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. Equities analysts predict that Construction Partners will post 0.91 EPS for the current fiscal year.

In other news, Director Cpi Expansion Fund Gp L. Suntx sold 5,000,000 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $13.47, for a total value of $67,350,000.00. Also, Director Cpi Expansion Fund Gp L. Suntx sold 750,000 shares of the company’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $17.24, for a total transaction of $12,930,000.00. Insiders own 74.79% of the company’s stock.

A number of large investors have recently modified their holdings of ROAD. Strs Ohio bought a new stake in Construction Partners during the 2nd quarter worth about $48,000. Anchor Capital Advisors LLC grew its holdings in Construction Partners by 2.1% during the 2nd quarter. Anchor Capital Advisors LLC now owns 96,161 shares of the company’s stock worth $1,444,000 after acquiring an additional 1,995 shares during the last quarter. Swiss National Bank bought a new stake in Construction Partners during the 2nd quarter worth about $333,000. Conestoga Capital Advisors LLC grew its holdings in Construction Partners by 3.9% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 27,360 shares of the company’s stock worth $411,000 after acquiring an additional 1,030 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Construction Partners by 545.8% during the 2nd quarter. Wells Fargo & Company MN now owns 91,765 shares of the company’s stock worth $1,378,000 after acquiring an additional 77,555 shares during the last quarter. 35.57% of the stock is currently owned by hedge funds and other institutional investors.

Construction Partners Company Profile

Construction Partners, Inc, an infrastructure and road construction company, provides construction products and services to public and private sectors. It offers construction of highways, roads, bridges, airports, and commercial and residential sites. The company provides a range of sitework construction services, including site development, paving, and utility and drainage systems construction, as well as supplies hot mix asphalt required for the projects.

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