Cibc World Markets Corp Purchases Shares of 4,017 Construction Partners, Inc. (NASDAQ:ROAD)

Cibc World Markets Corp bought a new stake in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,017 shares of the company's stock, valued at approximately $355,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Intech Investment Management LLC bought a new stake in shares of Construction Partners in the 3rd quarter worth approximately $778,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Construction Partners by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 453,212 shares of the company's stock worth $31,634,000 after acquiring an additional 4,009 shares in the last quarter. Nicolet Advisory Services LLC acquired a new stake in shares of Construction Partners during the third quarter worth $208,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Construction Partners during the third quarter valued at $453,000. Finally, Hardy Reed LLC purchased a new stake in shares of Construction Partners during the third quarter valued at $208,000. 94.83% of the stock is currently owned by institutional investors.

Construction Partners Stock Down 0.8 %

ROAD stock traded down $0.60 during midday trading on Friday, reaching $71.33. The company had a trading volume of 290,931 shares, compared to its average volume of 430,051. The company has a 50 day moving average of $77.15 and a two-hundred day moving average of $81.79. The company has a market capitalization of $3.99 billion, a P/E ratio of 66.66, a PEG ratio of 0.99 and a beta of 0.79. Construction Partners, Inc. has a 1 year low of $49.16 and a 1 year high of $103.69. The company has a current ratio of 1.54, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46.

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Analysts Set New Price Targets

A number of research firms have commented on ROAD. Robert W. Baird upped their price objective on shares of Construction Partners from $100.00 to $102.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. DA Davidson restated a "neutral" rating and issued a $95.00 target price on shares of Construction Partners in a report on Thursday, January 30th. Finally, Raymond James decreased their target price on 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 assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $85.40.

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.