139,815 Shares in Construction Partners Inc (NASDAQ:ROAD) Purchased by Bank of America Corp DE

Bank of America Corp DE bought a new position in Construction Partners Inc (NASDAQ:ROAD) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 139,815 shares of the company’s stock, valued at approximately $1,841,000. Bank of America Corp DE owned about 0.27% of Construction Partners as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the business. Summit Creek Advisors LLC bought a new position in Construction Partners in the second quarter worth $6,006,000. Penn Capital Management Co. Inc. purchased a new position in Construction Partners in the second quarter worth about $3,791,000. Broadview Advisors LLC bought a new stake in Construction Partners during the 2nd quarter valued at approximately $2,920,000. Massachusetts Financial Services Co. MA bought a new stake in Construction Partners during the 2nd quarter valued at approximately $8,888,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in Construction Partners during the 2nd quarter valued at approximately $203,000. 20.53% of the stock is currently owned by institutional investors and hedge funds.

Shares of Construction Partners stock traded up $0.07 during mid-day trading on Monday, reaching $9.86. 55,700 shares of the stock traded hands, compared to its average volume of 99,780. Construction Partners Inc has a fifty-two week low of $8.17 and a fifty-two week high of $14.06. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.94 and a quick ratio of 1.74.

ROAD has been the subject of a number of recent analyst reports. Zacks Investment Research cut Construction Partners from a “hold” rating to a “sell” rating in a report on Tuesday, August 14th. Imperial Capital dropped their price objective on Construction Partners from $16.00 to $14.00 and set an “outperform” rating for the company in a report on Thursday, November 8th. DA Davidson set a $15.00 price objective on Construction Partners and gave the company a “buy” rating in a report on Friday, November 23rd. Finally, ValuEngine cut Construction Partners from a “hold” rating to a “sell” rating in a report on Thursday, October 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $14.33.

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About Construction Partners

Construction Partners, Inc, an infrastructure and road construction company, provides construction products and services to public and private sectors. Its services cover construction of highways, roads, bridges, airports, and commercial and residential sites. The company provides site development, paving, utility and drainage systems, as well as supplies hot mix asphalt.

Featured Article: Balance Sheet

Institutional Ownership by Quarter for Construction Partners (NASDAQ:ROAD)

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