Peregrine Capital Management LLC Purchases Shares of 92,383 Construction Partners, Inc. (NASDAQ:ROAD)

Peregrine Capital Management LLC acquired a new position in Construction Partners, Inc. (NASDAQ:ROAD) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 92,383 shares of the company’s stock, valued at approximately $8,172,000.

Several other hedge funds have also recently made changes to their positions in the business. USA Financial Formulas bought a new stake in shares of Construction Partners during the fourth quarter valued at approximately $31,000. Mather Group LLC. purchased a new position in Construction Partners during the fourth quarter valued at $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 valued at $47,000 after buying an additional 133 shares in the last quarter. 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 valued at $48,000 after buying an additional 433 shares in the last quarter. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Construction Partners in the 4th quarter worth about $50,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Construction Partners news, CAO Todd Keith Andrews sold 5,489 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $91.84, for a total transaction of $504,109.76. Following the completion of the transaction, the chief accounting officer now owns 17,394 shares in the company, valued at $1,597,464.96. This trade represents a 23.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP John L. Harper sold 6,000 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $94.41, for a total transaction of $566,460.00. Following the completion of the transaction, the senior vice president now directly owns 154,856 shares of the company’s stock, valued at approximately $14,619,954.96. The trade was a 3.73 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 139,225 shares of company stock worth $13,904,358. Corporate insiders own 16.36% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. DA Davidson reiterated 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 lifted their price objective on Construction Partners from $100.00 to $102.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Finally, Raymond James dropped their target price on Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating on the stock in a report on Thursday, January 16th. Three research 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.40.

Construction Partners Price Performance

NASDAQ ROAD opened at $78.57 on Wednesday. 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 $45.26 and a 12 month high of $103.69. The stock has a market cap of $4.39 billion, a price-to-earnings ratio of 73.43, a PEG ratio of 1.00 and a beta of 0.74. The company’s 50 day moving average is $87.19 and its two-hundred day moving average is $79.93.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings data on Thursday, November 21st. The company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). Construction Partners had a return on equity of 11.94% and a net margin of 2.82%. The business had revenue of $538.16 million during the quarter, compared to the consensus estimate of $538.04 million. During the same period last year, the company earned $0.59 EPS. The business’s revenue was up 13.3% on a year-over-year basis. As a group, research analysts anticipate that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

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.