Construction Partners Inc (NASDAQ:ROAD) Sees Significant Increase in Short Interest

Construction Partners Inc (NASDAQ:ROAD) was the target of a significant growth in short interest in June. As of June 30th, there was short interest totalling 450,200 shares, a growth of 10.5% from the May 30th total of 407,600 shares. Currently, 3.8% of the company’s stock are sold short. Based on an average daily trading volume, of 147,000 shares, the days-to-cover ratio is presently 3.1 days.

ROAD stock opened at $14.56 on Tuesday. The stock has a fifty day simple moving average of $13.97. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.75 and a current ratio of 2.04. Construction Partners has a 1-year low of $7.70 and a 1-year high of $15.52. The stock has a market capitalization of $739.85 million, a PE ratio of 18.93, a P/E/G ratio of 1.74 and a beta of 1.96.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. Construction Partners had a return on equity of 12.67% and a net margin of 5.20%. The firm had revenue of $164.30 million for the quarter, compared to analysts’ expectations of $145.80 million. During the same quarter in the prior year, the firm earned $0.27 EPS. The business’s revenue for the quarter was up 38.2% compared to the same quarter last year. As a group, equities research analysts forecast that Construction Partners will post 0.83 earnings per share for the current year.

Several equities research analysts recently issued reports on ROAD shares. ValuEngine downgraded Xylem from a “buy” rating to a “hold” rating in a report on Tuesday, May 14th. Imperial Capital reissued an “outperform” rating and issued a $55.00 price objective (up previously from $52.00) on shares of Mimecast in a research report on Tuesday, May 14th. Finally, Zacks Investment Research cut HEXO from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $14.88.

Several hedge funds and other institutional investors have recently modified their holdings of the company. GSA Capital Partners LLP bought a new stake in shares of Construction Partners during the 4th quarter valued at $100,000. Bailard Inc. bought a new stake in shares of Construction Partners during the 1st quarter valued at $175,000. Conestoga Capital Advisors LLC bought a new stake in shares of Construction Partners during the 1st quarter valued at $336,000. Raymond James Financial Services Advisors Inc. raised its stake in shares of Construction Partners by 32.3% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 40,753 shares of the company’s stock valued at $520,000 after purchasing an additional 9,950 shares during the period. Finally, Two Sigma Advisers LP raised its stake in shares of Construction Partners by 20.1% during the 4th quarter. Two Sigma Advisers LP now owns 42,400 shares of the company’s stock valued at $374,000 after purchasing an additional 7,100 shares during the period. 21.49% 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.

Further Reading: Quiet Period Expirations Explained

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