Rice Hall James & Associates LLC Sells 36,664 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Rice Hall James & Associates LLC lowered its holdings in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 26.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 99,845 shares of the company's stock after selling 36,664 shares during the quarter. Rice Hall James & Associates LLC owned 0.18% of Construction Partners worth $8,832,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. USA Financial Formulas acquired a new stake in Construction Partners in the 4th quarter valued at approximately $31,000. Mather Group LLC. acquired a new stake in Construction Partners in the 4th quarter valued at approximately $33,000. Byrne Asset Management LLC grew its holdings in Construction Partners by 33.3% in the 4th quarter. Byrne Asset Management LLC now owns 533 shares of the company's stock valued at $47,000 after buying an additional 133 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Construction Partners by 400.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 541 shares of the company's stock valued at $48,000 after buying an additional 433 shares during the last quarter. Finally, Golden State Wealth Management LLC acquired a new stake in Construction Partners in the 4th quarter valued at approximately $50,000. Institutional investors and hedge funds own 94.83% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. DA Davidson reissued a "neutral" rating and set a $95.00 price objective on shares of Construction Partners in a report on Thursday, January 30th. Raymond James cut 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. Finally, Robert W. Baird raised their target price on Construction Partners from $100.00 to $102.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $85.40.

Insider Buying and Selling at Construction Partners

In other Construction Partners news, Director Charles E. Owens sold 46,596 shares of Construction Partners stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $101.33, for a total value of $4,721,572.68. Following the completion of the transaction, the director now owns 203,404 shares in the company, valued at approximately $20,610,927.32. The trade was a 18.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Todd Keith Andrews sold 2,511 shares of Construction Partners stock in a transaction on Monday, December 16th. The shares were sold at an average price of $95.86, for a total value of $240,704.46. Following the completion of the transaction, the chief accounting officer now owns 19,339 shares of the company's stock, valued at approximately $1,853,836.54. The trade was a 11.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 139,225 shares of company stock worth $13,904,358. 16.36% of the stock is currently owned by insiders.

Construction Partners Price Performance

Shares of Construction Partners stock traded down $3.80 during midday trading on Friday, hitting $73.11. 427,873 shares of the company were exchanged, compared to its average volume of 621,679. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.54 and a quick ratio of 1.23. The firm has a market cap of $4.09 billion, a P/E ratio of 68.33, a PEG ratio of 1.02 and a beta of 0.74. Construction Partners, Inc. has a 52 week low of $46.03 and a 52 week high of $103.69. The firm has a 50 day simple moving average of $86.01 and a 200-day simple moving average of $80.03.

Construction Partners (NASDAQ:ROAD - Get Free Report) last posted its earnings results on Thursday, November 21st. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.01). Construction Partners had a return on equity of 11.94% and a net margin of 2.82%. The company had revenue of $538.16 million for the quarter, compared to the consensus estimate of $538.04 million. During the same quarter last year, the business earned $0.59 EPS. Construction Partners's quarterly revenue was up 13.3% compared to the same quarter last year. Research analysts forecast that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

About Construction Partners

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.