Summit Creek Advisors LLC Sells 58,112 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Summit Creek Advisors LLC cut its position in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 20.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 231,577 shares of the company's stock after selling 58,112 shares during the quarter. Construction Partners accounts for about 2.7% of Summit Creek Advisors LLC's portfolio, making the stock its 13th largest holding. Summit Creek Advisors LLC owned about 0.41% of Construction Partners worth $20,485,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Construction Partners by 42.8% in the fourth quarter. Vanguard Group Inc. now owns 3,492,368 shares of the company's stock valued at $308,935,000 after acquiring an additional 1,046,617 shares during the last quarter. LPL Financial LLC lifted its stake in Construction Partners by 42.5% during the fourth quarter. LPL Financial LLC now owns 39,006 shares of the company's stock worth $3,450,000 after purchasing an additional 11,625 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Construction Partners in the 4th quarter valued at $805,000. Sei Investments Co. increased its stake in shares of Construction Partners by 124.0% in the 4th quarter. Sei Investments Co. now owns 168,491 shares of the company's stock valued at $14,905,000 after purchasing an additional 93,260 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Construction Partners during the 4th quarter worth $146,000. Institutional investors own 94.83% of the company's stock.

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Construction Partners Trading Down 0.8 %

Shares of NASDAQ:ROAD traded down $0.60 during midday trading on Friday, hitting $71.33. 290,931 shares of the stock were exchanged, compared to its average volume of 429,621. The business's 50-day moving average price is $76.77 and its 200 day moving average price is $81.89. Construction Partners, Inc. has a 12 month low of $49.16 and a 12 month high of $103.69. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.23 and a current ratio of 1.54. The stock has a market capitalization 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.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ROAD. Robert W. Baird boosted their target price on Construction Partners from $100.00 to $102.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Raymond James decreased their price target 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 reissued a "neutral" rating and issued a $95.00 price objective on shares of Construction Partners in a research note on Thursday, January 30th. Three 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 data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.