Advantage Alpha Capital Partners LP Buys New Stake in Construction Partners, Inc. (NASDAQ:ROAD)

Advantage Alpha Capital Partners LP acquired a new stake in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 30,517 shares of the company's stock, valued at approximately $2,700,000. Advantage Alpha Capital Partners LP owned approximately 0.05% of Construction Partners as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Construction Partners by 42.8% in the 4th quarter. Vanguard Group Inc. now owns 3,492,368 shares of the company's stock valued at $308,935,000 after buying an additional 1,046,617 shares in the last quarter. State Street Corp boosted its stake in Construction Partners by 2.7% in the third quarter. State Street Corp now owns 1,004,867 shares of the company's stock valued at $70,140,000 after acquiring an additional 26,189 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Construction Partners by 197.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 616,032 shares of the company's stock worth $54,104,000 after purchasing an additional 408,610 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Construction Partners during the fourth quarter worth $42,527,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Construction Partners by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 463,000 shares of the company's stock valued at $40,957,000 after purchasing an additional 9,788 shares during the last quarter. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

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Construction Partners Stock Performance

Shares of NASDAQ:ROAD traded down $0.60 during trading on Friday, hitting $71.33. The stock had a trading volume of 290,931 shares, compared to its average volume of 429,621. The stock has a 50-day simple moving average of $76.77 and a two-hundred day simple moving average of $81.89. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 66.66, a price-to-earnings-growth ratio of 0.99 and a beta of 0.79. Construction Partners, Inc. has a 12-month low of $49.16 and a 12-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.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ROAD shares. Robert W. Baird upped their target price on Construction Partners from $100.00 to $102.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. Raymond James cut their price objective on shares of Construction Partners from $112.00 to $104.00 and set a "strong-buy" rating on the stock in a report on Thursday, January 16th. Finally, DA Davidson restated a "neutral" rating and set a $95.00 price target on shares of Construction Partners in a research note on Thursday, January 30th. Three investment 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 stock. According to MarketBeat, Construction Partners has an average rating of "Moderate Buy" and an average 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.