Fred Julius Smith III Purchases 9,333 Shares of Construction Partners, Inc. (NASDAQ:ROAD) Stock

Construction Partners, Inc. (NASDAQ:ROAD) CEO Fred Julius Smith III acquired 9,333 shares of the business’s stock in a transaction on Monday, April 14th. The stock was purchased at an average cost of $73.83 per share, with a total value of $689,055.39. Following the acquisition, the chief executive officer now directly owns 9,333 shares of the company’s stock, valued at $689,055.39. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Construction Partners Price Performance

ROAD stock traded up $0.33 during trading on Tuesday, hitting $79.96. The stock had a trading volume of 380,165 shares, compared to its average volume of 435,400. Construction Partners, Inc. has a twelve month low of $49.16 and a twelve month high of $103.69. The company’s 50-day moving average price is $74.43 and its two-hundred day moving average price is $82.51. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.54 and a quick ratio of 1.23. The stock has a market capitalization of $4.47 billion, a P/E ratio of 74.73, a PEG ratio of 0.99 and a beta of 0.85.

Analyst Ratings Changes

Several brokerages recently weighed in on ROAD. Raymond James cut their price target 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. DA Davidson restated a “neutral” rating and issued a $95.00 price objective on shares of Construction Partners in a research report on Thursday, January 30th. Finally, Robert W. Baird increased their target price on Construction Partners from $100.00 to $102.00 and gave the company a “neutral” rating in a research report on Monday, February 10th.

Institutional Trading of Construction Partners

Several large investors have recently made changes to their positions in ROAD. USA Financial Formulas acquired a new stake in Construction Partners during the 4th quarter worth $31,000. Mather Group LLC. acquired a new position in Construction Partners during the fourth quarter worth about $33,000. Versant Capital Management Inc purchased a new stake in Construction Partners during the 1st quarter valued at about $30,000. Byrne Asset Management LLC raised 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 valued at $47,000 after acquiring an additional 133 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in Construction Partners by 400.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 541 shares of the company’s stock worth $48,000 after purchasing an additional 433 shares in the last quarter. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

About Construction Partners

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.