Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Position in Construction Partners, Inc. (NASDAQ:ROAD)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 7.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,659 shares of the company’s stock after buying an additional 625 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Construction Partners were worth $766,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp lifted its holdings in shares of Construction Partners by 2.7% during 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 lifted its holdings in shares of Construction Partners by 197.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 616,032 shares of the company’s stock valued at $54,104,000 after purchasing an additional 408,610 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Construction Partners during the fourth quarter valued at approximately $42,527,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Construction Partners by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 463,000 shares of the company’s stock valued at $40,957,000 after purchasing an additional 9,788 shares during the last quarter. Finally, Fred Alger Management LLC purchased a new position in shares of Construction Partners during the third quarter valued at approximately $16,535,000. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Construction Partners Trading Down 3.1 %

NASDAQ:ROAD opened at $73.83 on Friday. 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, Inc. has a 12 month low of $49.16 and a 12 month high of $103.69. The company has a market cap of $4.13 billion, a PE ratio of 69.00, a price-to-earnings-growth ratio of 0.99 and a beta of 0.79. The company has a 50 day simple moving average of $78.09 and a two-hundred day simple moving average of $81.28.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ROAD shares. Raymond James reduced their price target on shares of Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating for the company in a research report on Thursday, January 16th. Robert W. Baird raised their price target on shares of Construction Partners from $100.00 to $102.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Finally, DA Davidson reissued a “neutral” rating and set a $95.00 price target on shares of Construction Partners in a research report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $85.40.

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.