1,338 Shares in Construction Partners, Inc. (NASDAQ:ROAD) Purchased by Manchester Capital Management LLC

Manchester Capital Management LLC purchased a new position in shares of Construction Partners, Inc. (NASDAQ:ROAD) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 1,338 shares of the company’s stock, valued at approximately $118,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sheets Smith Wealth Management bought a new position in Construction Partners during the fourth quarter worth about $632,000. Segall Bryant & Hamill LLC bought a new stake in shares of Construction Partners during the third quarter worth approximately $10,377,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Construction Partners by 47.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 207,422 shares of the company’s stock worth $14,478,000 after acquiring an additional 67,150 shares during the period. Intech Investment Management LLC bought a new stake in shares of Construction Partners during the third quarter worth approximately $778,000. Finally, Artemis Investment Management LLP bought a new stake in shares of Construction Partners during the fourth quarter worth approximately $18,893,000. Institutional investors own 94.83% of the company’s stock.

Wall Street Analysts Forecast Growth

ROAD has been the subject of a number of research analyst reports. Robert W. Baird boosted their price objective on Construction Partners from $100.00 to $102.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. DA Davidson restated a “neutral” rating and set a $95.00 price objective on shares of Construction Partners in a report on Thursday, January 30th. Finally, 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. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.40.

Construction Partners Stock Down 1.1 %

NASDAQ ROAD opened at $77.58 on Friday. The company has a current ratio of 1.54, a quick ratio of 1.26 and a debt-to-equity ratio of 0.85. Construction Partners, Inc. has a 1-year low of $45.26 and a 1-year high of $103.69. The company has a 50 day moving average of $87.95 and a 200-day moving average of $79.54. The company has a market cap of $4.34 billion, a price-to-earnings ratio of 58.77, a PEG ratio of 1.25 and a beta of 0.74.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings results on Thursday, November 21st. The company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). Construction Partners had a net margin of 3.78% and a return on equity of 12.90%. The business had revenue of $538.16 million during the quarter, compared to analyst estimates of $538.04 million. During the same quarter in the previous year, the firm posted $0.59 earnings per share. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. On average, equities research analysts expect that Construction Partners, Inc. will post 1.95 earnings per share for the current fiscal year.

Insider Buying and Selling at Construction Partners

In other Construction Partners news, CAO Todd Keith Andrews sold 2,511 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $95.86, for a total transaction of $240,704.46. Following the completion of the transaction, the chief accounting officer now directly owns 19,339 shares in the company, valued at $1,853,836.54. The trade was a 11.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP John L. Harper sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $94.41, for a total transaction of $566,460.00. Following the transaction, the senior vice president now owns 154,856 shares of the company’s stock, valued at approximately $14,619,954.96. This represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 139,225 shares of company stock worth $13,904,358 over the last three months. Corporate insiders own 16.36% of the company’s stock.

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.