Sheets Smith Investment Management Takes Position in Construction Partners, Inc. (NASDAQ:ROAD)

Sheets Smith Investment Management bought a new position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 16,705 shares of the company's stock, valued at approximately $1,478,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Byrne Asset Management LLC raised its holdings in shares of Construction Partners by 33.3% during the fourth quarter. Byrne Asset Management LLC now owns 533 shares of the company's stock valued at $47,000 after acquiring an additional 133 shares during the period. Allworth Financial LP grew its position in Construction Partners by 15.0% during the 4th quarter. Allworth Financial LP now owns 1,228 shares of the company's stock worth $114,000 after purchasing an additional 160 shares in the last quarter. USA Financial Formulas acquired a new stake in Construction Partners during the 4th quarter valued at $31,000. HighTower Advisors LLC lifted its holdings in shares of Construction Partners by 1.2% in the fourth quarter. HighTower Advisors LLC now owns 29,531 shares of the company's stock valued at $2,612,000 after purchasing an additional 350 shares in the last quarter. Finally, Mather Group LLC. acquired a new stake in shares of Construction Partners in the fourth quarter worth $33,000. Institutional investors and hedge funds own 94.83% of the company's stock.

Construction Partners Stock Down 0.8 %

Shares of ROAD traded down $0.60 during mid-day trading on Friday, hitting $71.33. 290,931 shares of the company's stock were exchanged, compared to its average volume of 429,621. 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 stock has a market cap of $3.99 billion, a price-to-earnings ratio of 66.66, a P/E/G ratio of 0.99 and a beta of 0.79. Construction Partners, Inc. has a twelve month low of $49.16 and a twelve month high of $103.69. The firm has a fifty day moving average of $76.77 and a two-hundred day moving average of $81.89.

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Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ROAD shares. Raymond James reduced their price objective on Construction Partners from $112.00 to $104.00 and set a "strong-buy" rating for the company in a research note on Thursday, January 16th. DA Davidson reissued a "neutral" rating and issued a $95.00 price target on shares of Construction Partners in a research report on Thursday, January 30th. Finally, Robert W. Baird boosted their price objective on shares of Construction Partners from $100.00 to $102.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $85.40.

Construction Partners 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.