Harvest Fund Management Co. Ltd Invests $146,000 in Construction Partners, Inc. (NASDAQ:ROAD)

Harvest Fund Management Co. Ltd acquired a new position in shares of Construction Partners, Inc. (NASDAQ:ROAD) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,655 shares of the company’s stock, valued at approximately $146,000.

Several other institutional investors also recently modified their holdings of the company. USA Financial Formulas bought a new stake in shares of Construction Partners during the 4th quarter worth about $31,000. Mather Group LLC. bought a new stake in shares of Construction Partners during the 4th quarter worth about $33,000. Byrne Asset Management LLC boosted its holdings in shares of Construction Partners by 33.3% during 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 during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Construction Partners by 400.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 541 shares of the company’s stock worth $48,000 after buying an additional 433 shares during the period. Finally, Golden State Wealth Management LLC bought a new stake in shares of Construction Partners during the 4th quarter worth about $50,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Construction Partners Stock Performance

NASDAQ ROAD opened at $73.83 on Friday. The firm has a 50-day moving average price of $78.09 and a two-hundred day moving average price of $81.42. Construction Partners, Inc. has a 12-month low of $49.16 and a 12-month high of $103.69. The company has a quick ratio of 1.23, a current ratio of 1.54 and a debt-to-equity ratio of 1.46. The company has a market capitalization of $4.13 billion, a P/E ratio of 69.00, a P/E/G ratio of 0.99 and a beta of 0.79.

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.