Construction Partners (NASDAQ:ROAD) PT Raised to $37.00 at Raymond James

Construction Partners (NASDAQ:ROADGet Rating) had its target price raised by Raymond James from $35.00 to $37.00 in a research note released on Monday, Benzinga reports. They currently have a strong-buy rating on the stock.

ROAD has been the topic of several other reports. DA Davidson increased their target price on shares of Construction Partners to $28.00 in a research note on Monday, August 15th. Robert W. Baird raised their price target on shares of Construction Partners from $26.00 to $32.00 in a report on Monday, August 8th. Three investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Construction Partners presently has a consensus rating of Buy and an average price target of $32.75.

Construction Partners Stock Up 1.0 %

Construction Partners stock opened at $27.57 on Monday. The business has a fifty day moving average of $28.99 and a two-hundred day moving average of $25.86. The company has a quick ratio of 1.53, a current ratio of 1.91 and a debt-to-equity ratio of 0.79. The firm has a market cap of $1.45 billion, a P/E ratio of 67.24, a P/E/G ratio of 0.98 and a beta of 0.95. Construction Partners has a twelve month low of $18.89 and a twelve month high of $37.63.

Insider Activity at Construction Partners

In related news, Director Noreen E. Skelly sold 3,100 shares of Construction Partners stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $28.30, for a total value of $87,730.00. Following the completion of the sale, the director now owns 22,091 shares in the company, valued at approximately $625,175.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Construction Partners news, Director Suntx Capital Management Corp. sold 50,922 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $27.94, for a total value of $1,422,760.68. Following the completion of the transaction, the director now owns 29,731 shares of the company’s stock, valued at approximately $830,684.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Noreen E. Skelly sold 3,100 shares of the firm’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $28.30, for a total transaction of $87,730.00. Following the completion of the transaction, the director now directly owns 22,091 shares of the company’s stock, valued at approximately $625,175.30. The disclosure for this sale can be found here. 24.35% of the stock is owned by insiders.

Institutional Investors Weigh In On Construction Partners

Several institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio raised its stake in Construction Partners by 40.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,102 shares of the company’s stock worth $29,000 after acquiring an additional 317 shares in the last quarter. Captrust Financial Advisors raised its stake in Construction Partners by 37.1% during the 2nd quarter. Captrust Financial Advisors now owns 2,223 shares of the company’s stock worth $47,000 after acquiring an additional 602 shares in the last quarter. MML Investors Services LLC raised its stake in Construction Partners by 5.8% during the 3rd quarter. MML Investors Services LLC now owns 11,657 shares of the company’s stock worth $306,000 after acquiring an additional 634 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Construction Partners by 6.5% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 11,309 shares of the company’s stock worth $297,000 after acquiring an additional 692 shares in the last quarter. Finally, Raymond James Trust N.A. increased its stake in Construction Partners by 5.2% in the second quarter. Raymond James Trust N.A. now owns 14,568 shares of the company’s stock valued at $305,000 after purchasing an additional 715 shares during the period. 77.97% of the stock is owned by hedge funds and other institutional investors.

About Construction Partners

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Construction Partners, Inc, a civil infrastructure company, engages in the construction and maintenance of roadways across Alabama, Florida, Georgia, North Carolina, and South Carolina. The company, through its subsidiaries, provides various products and services to public and private infrastructure projects, with a focus on highways, roads, bridges, airports, and commercial and residential developments.

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