18,046 Shares in Construction Partners, Inc. (NASDAQ:ROAD) Bought by Proficio Capital Partners LLC

Proficio Capital Partners LLC purchased a new stake in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 18,046 shares of the company's stock, valued at approximately $1,596,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Sheets Smith Wealth Management bought a new position in Construction Partners during the fourth quarter valued at $632,000. Segall Bryant & Hamill LLC bought a new position in Construction Partners during the third quarter valued at $10,377,000. Intech Investment Management LLC bought a new position in Construction Partners during the third quarter valued at $778,000. Artemis Investment Management LLP bought a new position in Construction Partners during the fourth quarter valued at $18,893,000. Finally, Washington University bought a new position in Construction Partners during the fourth quarter valued at $3,452,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Construction Partners Stock Performance

Shares of Construction Partners stock traded down $2.33 during trading hours on Friday, reaching $73.83. The company had a trading volume of 932,183 shares, compared to its average volume of 423,400. Construction Partners, Inc. has a one year low of $49.16 and a one year high of $103.69. The business has a fifty day simple moving average of $78.09 and a 200 day simple moving average of $81.42. 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 $4.13 billion, a PE ratio of 69.00, a price-to-earnings-growth ratio of 0.99 and a beta of 0.79.

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Analyst Upgrades and Downgrades

ROAD has been the subject of several research reports. Robert W. Baird increased their price objective on Construction Partners from $100.00 to $102.00 and gave the company a "neutral" rating in a report on Monday, February 10th. 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 report on Thursday, January 16th. Finally, DA Davidson reaffirmed a "neutral" rating and issued a $95.00 price target on shares of Construction Partners in a report on Thursday, January 30th. Three 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 stock. Based on data from MarketBeat, Construction Partners has a consensus rating of "Moderate Buy" and an average target price of $85.40.

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.