Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Construction Partners Inc shares valued at $2,210,417 were sold by SunTx Capital II Management Co on Dec 20 ’23. At $44.21 per share, SunTx Capital II Management Co sold 50,000 shares. The insider’s holdings dropped to 128,134 shares worth approximately $6.54 million following the completion of this transaction.
Also, Jennings Craig sold 22,500 shares, netting a total of over 979,425 in proceeds. Following the sale of shares at $43.53 each, the insider now holds 0 shares.
Before that, Matteson Mark R had sold 90,000 shares from its account. In a trade valued at $3,914,438, the Director traded Construction Partners Inc shares for $43.49 each. Upon closing the transaction, the insider’s holdings decreased to 90,000 shares, worth approximately $0.51 million.
As published in a research note from Sidoti on March 28, 2024, Construction Partners Inc [ROAD] has been rated down from a Buy to a Neutral and the price target has been revised to $59. Analysts at Robert W. Baird downgraded the stock from ‘”an Outperform”‘ to ‘”a Neutral”‘ outlook in a report released in mid February. Earlier on June 01, 2022, Sidoti initiated its rating. Their recommendation was “a Buy” for ROAD stock.
Analyzing ROAD Stock Performance
During the last five days, there has been a surge of approximately 0.22%. Over the course of the year, Construction Partners Inc shares have jumped approximately 17.35%. Shares of the company reached a 52-week high of $58.65 on 04/04/24 and a 52-week low of $39.79 on 01/09/24. A 50-day SMA is recorded $52.40, while a 200-day SMA reached $42.47. Nevertheless, trading volume fell to 0.44 million shares from 0.25 million shares the previous day.
Support And Resistance Levels for Construction Partners Inc (ROAD)
According to the 24-hour chart, there is a support level at 50.45, which, if violated, would cause prices to drop to 49.84. In the upper region, resistance lies at 51.88. The next price resistance is at 52.70. RSI (Relative Strength Index) is 42.17 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.45, which suggests the price will decrease in the coming days. Percent R is at 74.87%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
