Xponance Inc. Invests $271,000 in Construction Partners, Inc. (NASDAQ:ROAD)

Xponance Inc. bought a new stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 3,062 shares of the company’s stock, valued at approximately $271,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. USA Financial Formulas purchased a new stake in shares of Construction Partners during the fourth quarter valued at approximately $31,000. Mather Group LLC. purchased a new stake in Construction Partners during the 4th quarter worth $33,000. Byrne Asset Management LLC lifted its holdings in Construction Partners by 33.3% in the 4th quarter. Byrne Asset Management LLC now owns 533 shares of the company’s stock worth $47,000 after buying an additional 133 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Construction Partners by 400.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 541 shares of the company’s stock valued at $48,000 after buying an additional 433 shares during the last quarter. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Construction Partners during the fourth quarter worth about $50,000. 94.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ROAD. DA Davidson restated a “neutral” rating and set a $95.00 price objective on shares of Construction Partners in a research note on Thursday, January 30th. Robert W. Baird lifted their price target on shares of Construction Partners from $100.00 to $102.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Finally, Raymond James reduced their price objective on shares of Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating on the stock in a research note on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $85.40.

Construction Partners Stock Performance

ROAD stock opened at $71.93 on Friday. The stock’s 50 day simple moving average is $77.15 and its 200 day simple moving average is $81.79. Construction Partners, Inc. has a 12-month low of $49.16 and a 12-month high of $103.69. The firm has a market cap of $4.02 billion, a P/E ratio of 67.22, a P/E/G 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.

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.