Intech Investment Management LLC Purchases 10,671 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Intech Investment Management LLC grew its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 95.8% during the 4th quarter, HoldingsChannel reports. The fund owned 21,810 shares of the company’s stock after purchasing an additional 10,671 shares during the quarter. Intech Investment Management LLC’s holdings in Construction Partners were worth $1,929,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ROAD. Raymond James Financial Inc. bought a new stake in Construction Partners in the fourth quarter worth $42,527,000. Allspring Global Investments Holdings LLC boosted its holdings in Construction Partners by 197.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 616,032 shares of the company’s stock worth $54,104,000 after acquiring an additional 408,610 shares in the last quarter. Fred Alger Management LLC bought a new stake in Construction Partners in the third quarter worth $16,535,000. Artemis Investment Management LLP bought a new stake in Construction Partners in the fourth quarter worth $18,893,000. Finally, Segall Bryant & Hamill LLC bought a new stake in Construction Partners in the third quarter worth $10,377,000. 94.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ROAD has been the topic of several analyst reports. 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 report on Monday, February 10th. DA Davidson reaffirmed a “neutral” rating and set a $95.00 price target on shares of Construction Partners in a report on Thursday, January 30th. Finally, Raymond James lowered their price target on Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating on the stock in a report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $85.40.

Construction Partners Trading Up 0.3 %

Shares of NASDAQ:ROAD opened at $76.16 on Friday. The company has a market cap of $4.26 billion, a P/E ratio of 71.18, a PEG ratio of 0.99 and a beta of 0.79. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.54 and a quick ratio of 1.23. Construction Partners, Inc. has a 1 year low of $49.16 and a 1 year high of $103.69. The stock’s fifty day moving average price is $78.36 and its 200-day moving average price is $81.22.

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.