DA Davidson Has Pessimistic Outlook of ROAD FY2024 Earnings

Construction Partners, Inc. (NASDAQ:ROAD) – Equities researchers at DA Davidson decreased their FY2024 earnings per share (EPS) estimates for Construction Partners in a research note issued to investors on Tuesday, October 22nd. DA Davidson analyst B. Thielman now forecasts that the company will earn $1.33 per share for the year, down from their previous forecast of $1.44. DA Davidson has a “Neutral” rating and a $55.00 price target on the stock. The consensus estimate for Construction Partners’ current full-year earnings is $1.43 per share. DA Davidson also issued estimates for Construction Partners’ FY2025 earnings at $1.77 EPS.

A number of other research firms also recently commented on ROAD. Robert W. Baird increased their target price on shares of Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday. Stifel Nicolaus raised their price objective on Construction Partners from $61.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, Raymond James lifted their target price on Construction Partners from $69.00 to $72.00 and gave the stock a “strong-buy” rating in a research report on Monday, August 12th. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Construction Partners has an average rating of “Moderate Buy” and an average price target of $69.00.

Construction Partners Stock Down 2.0 %

ROAD stock opened at $77.49 on Thursday. The stock has a market cap of $4.08 billion, a P/E ratio of 66.23, a PEG ratio of 1.50 and a beta of 0.67. The company has a current ratio of 1.60, a quick ratio of 1.30 and a debt-to-equity ratio of 0.82. Construction Partners has a twelve month low of $36.70 and a twelve month high of $86.00. The company’s 50 day moving average is $68.63 and its two-hundred day moving average is $60.67.

Construction Partners (NASDAQ:ROAD) last issued its earnings results on Friday, August 9th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.05. The business had revenue of $517.80 million for the quarter, compared to analyst estimates of $503.57 million. Construction Partners had a return on equity of 13.34% and a net margin of 4.01%. The business’s quarterly revenue was up 22.7% on a year-over-year basis. During the same quarter last year, the company earned $0.41 EPS.

Hedge Funds Weigh In On Construction Partners

A number of large investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of Construction Partners by 47.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 207,422 shares of the company’s stock valued at $14,478,000 after acquiring an additional 67,150 shares in the last quarter. nVerses Capital LLC raised its holdings in Construction Partners by 19.0% during the third quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock worth $174,000 after purchasing an additional 400 shares in the last quarter. NBC Securities Inc. lifted its position in Construction Partners by 36.9% in the third quarter. NBC Securities Inc. now owns 4,927 shares of the company’s stock valued at $343,000 after purchasing an additional 1,327 shares during the period. Creative Planning boosted its holdings in Construction Partners by 22.8% in the 3rd quarter. Creative Planning now owns 7,060 shares of the company’s stock valued at $493,000 after purchasing an additional 1,311 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Construction Partners by 24.4% in the 3rd quarter. GAMMA Investing LLC now owns 873 shares of the company’s stock valued at $61,000 after purchasing an additional 171 shares in the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Insider Activity at Construction Partners

In other Construction Partners news, Director Mark R. Matteson sold 25,408 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $61.97, for a total transaction of $1,574,533.76. Following the transaction, the director now directly owns 102,592 shares of the company’s stock, valued at approximately $6,357,626.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 18.80% of the stock is owned by insiders.

Construction Partners Company 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.