Cibc World Markets Corp Invests $355,000 in Construction Partners, Inc. (NASDAQ:ROAD)

Cibc World Markets Corp acquired a new stake in Construction Partners, Inc. (NASDAQ:ROAD) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,017 shares of the company’s stock, valued at approximately $355,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp increased its stake in Construction Partners by 2.7% in the third quarter. State Street Corp now owns 1,004,867 shares of the company’s stock valued at $70,140,000 after purchasing an additional 26,189 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Construction Partners by 197.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 616,032 shares of the company’s stock valued at $54,104,000 after buying an additional 408,610 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Construction Partners during the 4th quarter worth $42,527,000. Charles Schwab Investment Management Inc. lifted its position in Construction Partners by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 463,000 shares of the company’s stock valued at $40,957,000 after acquiring an additional 9,788 shares during the last quarter. Finally, Fred Alger Management LLC acquired a new position in Construction Partners in the third quarter valued at $16,535,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Analysts Set New Price Targets

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

Construction Partners Stock Up 7.4 %

Construction Partners stock opened at $79.31 on Tuesday. The stock has a market capitalization of $4.43 billion, a price-to-earnings ratio of 74.12, a PEG ratio of 0.99 and a beta of 0.79. The company has a current ratio of 1.54, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46. The stock has a 50 day moving average of $77.96 and a two-hundred day moving average of $81.74. Construction Partners, Inc. has a twelve month low of $49.16 and a twelve month high of $103.69.

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.