1,655 Shares in Construction Partners, Inc. (NASDAQ:ROAD) Acquired by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd acquired a new position in shares of Construction Partners, Inc. (NASDAQ:ROAD) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 1,655 shares of the company’s stock, valued at approximately $146,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Raymond James Financial Inc. acquired a new position in Construction Partners in the 4th quarter valued at approximately $42,527,000. Allspring Global Investments Holdings LLC increased its position in Construction Partners by 197.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 616,032 shares of the company’s stock valued at $54,104,000 after acquiring an additional 408,610 shares during the period. Fred Alger Management LLC acquired a new position in Construction Partners in the 3rd quarter valued at approximately $16,535,000. Artemis Investment Management LLP acquired a new position in Construction Partners in the 4th quarter valued at approximately $18,893,000. Finally, Peregrine Capital Management LLC acquired a new position in Construction Partners in the 4th quarter valued at approximately $8,172,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ROAD has been the subject of several recent research reports. DA Davidson restated a “neutral” rating and issued a $95.00 price target on shares of Construction Partners in a research report on Thursday, January 30th. Robert W. Baird increased their price objective on shares of Construction Partners from $100.00 to $102.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Finally, Raymond James decreased their price objective on shares of Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating for the company in a research report on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $85.40.

Construction Partners Trading Down 3.1 %

ROAD opened at $73.83 on Friday. Construction Partners, Inc. has a twelve month low of $49.16 and a twelve month high of $103.69. The company has a quick ratio of 1.23, a current ratio of 1.54 and a debt-to-equity ratio of 1.46. The company has a fifty day moving average of $78.09 and a 200-day moving average of $81.42. The stock has a market cap of $4.13 billion, a PE ratio of 69.00, a price-to-earnings-growth ratio of 0.99 and a beta of 0.79.

Construction Partners Company Profile

Construction Partners, Inc, a civil infrastructure company, constructs and maintains roadways in Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee. The company provides various products and services to public and private infrastructure projects, such as highways, roads, bridges, airports, and commercial and residential developments.