Jupiter Asset Management Ltd. acquired a new position in shares of Construction Partners Inc (NASDAQ:ROAD) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 397,318 shares of the company’s stock, valued at approximately $4,764,000.

Other hedge funds have also made changes to their positions in the company. Raymond James Financial Services Advisors Inc. acquired a new stake in Construction Partners in the second quarter valued at $203,000. BlackRock Inc. acquired a new stake in Construction Partners in the second quarter valued at $229,000. Engineers Gate Manager LP acquired a new stake in Construction Partners in the second quarter valued at $283,000. Raymond James & Associates acquired a new stake in Construction Partners in the second quarter valued at $301,000. Finally, Mesirow Financial Investment Management Inc. grew its holdings in Construction Partners by 20.6% in the third quarter. Mesirow Financial Investment Management Inc. now owns 32,888 shares of the company’s stock valued at $398,000 after purchasing an additional 5,623 shares during the last quarter. 22.06% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:ROAD opened at $9.76 on Wednesday. The company has a current ratio of 1.94, a quick ratio of 1.74 and a debt-to-equity ratio of 0.18. Construction Partners Inc has a 52-week low of $8.17 and a 52-week high of $14.06.

ROAD has been the topic of several research reports. ValuEngine lowered Construction Partners from a “hold” rating to a “sell” rating in a report on Thursday, October 18th. Zacks Investment Research lowered Construction Partners from a “buy” rating to a “hold” rating in a report on Thursday, August 30th. Finally, Imperial Capital lowered their target price on Construction Partners from $16.00 to $14.00 and set an “outperform” rating on the stock in a report on Thursday, November 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $14.25.

ILLEGAL ACTIVITY WARNING: This story was originally published by Daily Political and is owned by of Daily Political. If you are viewing this story on another domain, it was illegally copied and republished in violation of US and international copyright and trademark law. The legal version of this story can be accessed at https://www.dailypolitical.com/2018/11/21/jupiter-asset-management-ltd-takes-position-in-construction-partners-inc-road.html.

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.

Further Reading: How to calculate the intrinsic value of a stock

Want to see what other hedge funds are holding ROAD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Construction Partners Inc (NASDAQ:ROAD).

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

Receive News & Ratings for Construction Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Construction Partners and related companies with MarketBeat.com's FREE daily email newsletter.