Construction Partners, Inc. (NASDAQ:ROAD) Short Interest Up 72.1% in July

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. Approximately 9.6% of the shares of the company are sold short. Based on an average daily trading volume, of 1,617,705 shares, the days-to-cover ratio is presently 2.8 days.

Institutional Trading of Construction Partners

Institutional investors have recently bought and sold shares of the business. NFSG Corp boosted its stake in shares of Construction Partners by 8.7% in the first quarter. NFSG Corp now owns 1,251 shares of the company’s stock valued at $139,000 after buying an additional 100 shares during the period. 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 worth $473,000 after acquiring an additional 140 shares during the period. The Manufacturers Life Insurance Company increased its stake in Construction Partners by 0.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 23,151 shares of the company’s stock worth $2,573,000 after acquiring an additional 149 shares during the period. &PARTNERS raised its holdings in Construction Partners by 2.5% in the 4th quarter. &PARTNERS now owns 6,899 shares of the company’s stock valued at $749,000 after acquiring an additional 167 shares in the last quarter. Finally, Morse Asset Management Inc lifted its position in shares of Construction Partners by 300.0% during the 3rd quarter. Morse Asset Management Inc now owns 240 shares of the company’s stock valued at $30,000 after acquiring an additional 180 shares during the period. Institutional investors own 94.83% of the company’s stock.

Construction Partners Stock Performance

ROAD traded down $4.62 during trading on Tuesday, hitting $115.84. The stock had a trading volume of 129,548 shares, compared to its average volume of 690,686. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.57 and a quick ratio of 1.26. The company has a 50 day moving average price of $110.68 and a 200-day moving average price of $116.90. Construction Partners has a one year low of $93.42 and a one year high of $151.00. The firm has a market cap of $6.57 billion, a price-to-earnings ratio of 45.42, a P/E/G ratio of 1.13 and a beta of 0.90.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings data 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 firm had revenue of $999.42 million for the quarter, compared to analysts’ expectations of $948.77 million. Construction Partners had a return on equity of 16.06% and a net margin of 4.10%.The company’s quarterly revenue was up 28.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.81 EPS. As a group, research analysts predict that Construction Partners will post 3.02 EPS for the current year.

Wall Street Analysts Forecast Growth

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

About Construction Partners

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.