Sherbrooke Park Advisers LLC Purchases New Shares in Construction Partners, Inc. (NASDAQ:ROAD)

Sherbrooke Park Advisers LLC purchased a new position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 2,745 shares of the company's stock, valued at approximately $243,000.

Several other institutional investors also recently modified their holdings of ROAD. Byrne Asset Management LLC boosted its stake in Construction Partners by 33.3% during the 4th quarter. Byrne Asset Management LLC now owns 533 shares of the company's stock worth $47,000 after acquiring an additional 133 shares during the last quarter. Allworth Financial LP boosted its stake in Construction Partners by 15.0% during the 4th quarter. Allworth Financial LP now owns 1,228 shares of the company's stock worth $114,000 after acquiring an additional 160 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in Construction Partners by 5.0% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,492 shares of the company's stock worth $397,000 after acquiring an additional 213 shares during the last quarter. HighTower Advisors LLC boosted its stake in Construction Partners by 1.2% during the 4th quarter. HighTower Advisors LLC now owns 29,531 shares of the company's stock worth $2,612,000 after acquiring an additional 350 shares during the last quarter. Finally, Mather Group LLC. bought a new position in Construction Partners in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 94.83% of the company's stock.

Analyst Upgrades and Downgrades

ROAD has been the topic of a number of research reports. Robert W. Baird lifted their price target 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. Raymond James cut their price target on shares of Construction Partners from $104.00 to $100.00 and set a "strong-buy" rating on the stock in a research note on Tuesday, April 29th. Finally, DA Davidson reaffirmed a "neutral" rating and issued a $95.00 price target on shares of Construction Partners in a research note on Thursday, January 30th.

Insider Activity

In related news, SVP John L. Harper sold 6,000 shares of the business's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $73.83, for a total transaction of $442,980.00. Following the transaction, the senior vice president now directly owns 159,389 shares in the company, valued at approximately $11,767,689.87. The trade was a 3.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Fred Julius Smith III bought 9,333 shares of the stock in a transaction that occurred on Monday, April 14th. The shares were purchased at an average price of $73.83 per share, for a total transaction of $689,055.39. Following the completion of the acquisition, the chief executive officer now owns 9,333 shares of the company's stock, valued at $689,055.39. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 16.36% of the stock is owned by corporate insiders.

Construction Partners Stock Up 2.1%

Shares of NASDAQ ROAD traded up $2.12 during midday trading on Friday, reaching $102.54. The company's stock had a trading volume of 249,853 shares, compared to its average volume of 444,030. The company has a current ratio of 1.54, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46. Construction Partners, Inc. has a fifty-two week low of $51.63 and a fifty-two week high of $104.53. The stock has a market capitalization of $5.75 billion, a price-to-earnings ratio of 95.83, a PEG ratio of 0.99 and a beta of 0.87. The stock has a 50 day simple moving average of $83.31 and a 200-day simple moving average of $85.13.

Construction Partners (NASDAQ:ROAD - Get Free Report) last posted its quarterly earnings data on Friday, May 9th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.04) by $0.12. Construction Partners had a net margin of 2.82% and a return on equity of 11.94%. The company had revenue of $571.65 million for the quarter, compared to the consensus estimate of $559.61 million. During the same period last year, the company earned ($0.02) earnings per share. The firm's revenue was up 53.9% compared to the same quarter last year. Equities research analysts predict that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

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.