Construction Partners Inc (ROAD) Shares Bought by Tygh Capital Management Inc.

Tygh Capital Management Inc. raised its stake in Construction Partners Inc (NASDAQ:ROAD) by 76.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 283,624 shares of the company’s stock after purchasing an additional 122,915 shares during the quarter. Tygh Capital Management Inc. owned about 0.55% of Construction Partners worth $2,504,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ROAD. Massachusetts Financial Services Co. MA raised its stake in shares of Construction Partners by 17.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 793,608 shares of the company’s stock valued at $9,603,000 after acquiring an additional 118,738 shares during the period. Wasatch Advisors Inc. raised its stake in shares of Construction Partners by 28.8% in the 3rd quarter. Wasatch Advisors Inc. now owns 782,577 shares of the company’s stock valued at $9,469,000 after acquiring an additional 174,807 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Construction Partners by 6.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 668,202 shares of the company’s stock valued at $8,084,000 after acquiring an additional 40,119 shares during the period. Summit Creek Advisors LLC raised its stake in shares of Construction Partners by 11.7% in the 4th quarter. Summit Creek Advisors LLC now owns 561,028 shares of the company’s stock valued at $4,954,000 after acquiring an additional 58,860 shares during the period. Finally, Vanguard Group Inc raised its stake in shares of Construction Partners by 0.4% in the 3rd quarter. Vanguard Group Inc now owns 424,512 shares of the company’s stock valued at $5,137,000 after acquiring an additional 1,615 shares during the period. Institutional investors own 21.10% of the company’s stock.

In other news, insider John L. Harper purchased 9,000 shares of the company’s stock in a transaction that occurred on Friday, December 14th. The shares were purchased at an average price of $8.41 per share, with a total value of $75,690.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Ned N. Fleming III purchased 4,000 shares of the company’s stock in a transaction that occurred on Friday, December 21st. The shares were purchased at an average cost of $8.47 per share, for a total transaction of $33,880.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 14,500 shares of company stock worth $122,605 in the last ninety days. 74.79% of the stock is currently owned by insiders.

A number of equities analysts have recently commented on the stock. Imperial Capital cut their target price on shares of Construction Partners from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Thursday, November 8th. ValuEngine downgraded shares of Construction Partners from a “hold” rating to a “sell” rating in a research note on Thursday, October 18th. Zacks Investment Research downgraded shares of Construction Partners from a “hold” rating to a “sell” rating in a research note on Thursday, January 10th. Raymond James dropped their price target on shares of Construction Partners from $15.00 to $13.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, December 12th. Finally, DA Davidson set a $15.00 price target on shares of Construction Partners and gave the stock a “buy” rating in a research note on Friday, November 23rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Construction Partners currently has a consensus rating of “Buy” and a consensus price target of $14.00.

Construction Partners stock traded up $0.42 during midday trading on Wednesday, hitting $11.49. 20,064 shares of the stock were exchanged, compared to its average volume of 64,031. Construction Partners Inc has a 1 year low of $7.70 and a 1 year high of $14.06. The company has a market capitalization of $566.93 million and a price-to-earnings ratio of 13.36. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.99 and a quick ratio of 1.81.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings results on Monday, February 11th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.04). The company had revenue of $154.33 million for the quarter, compared to analysts’ expectations of $170.23 million. Analysts forecast that Construction Partners Inc will post 0.79 earnings per share for the current fiscal year.

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About Construction Partners

Construction Partners, Inc, an infrastructure and road construction company, provides construction products and services to public and private sectors. It offers construction of highways, roads, bridges, airports, and commercial and residential sites. The company provides a range of sitework construction services, including site development, paving, and utility and drainage systems construction, as well as supplies hot mix asphalt required for the projects.

Read More: Diversification For Individual Investors

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Institutional Ownership by Quarter for Construction Partners (NASDAQ:ROAD)

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