Construction Partners Inc (NASDAQ:ROAD) – Imperial Capital raised their FY2019 earnings estimates for shares of Construction Partners in a research note issued on Monday, December 10th. Imperial Capital analyst A. Hackel now expects that the company will post earnings of $0.85 per share for the year, up from their previous forecast of $0.83. Imperial Capital currently has a “Buy” rating and a $14.00 target price on the stock. Imperial Capital also issued estimates for Construction Partners’ Q4 2019 earnings at $0.35 EPS and FY2020 earnings at $0.95 EPS.
Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings results on Tuesday, December 11th. The company reported $0.29 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.29. The firm had revenue of $215.70 million for the quarter, compared to the consensus estimate of $215.45 million. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year.
A number of other brokerages have also recently commented on ROAD. DA Davidson set a $15.00 price target on shares of Construction Partners and gave the company a “buy” rating in a research report on Friday, November 23rd. Zacks Investment Research raised shares of Construction Partners from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research report on Thursday, August 16th. Raymond James set a $13.00 price target on shares of Construction Partners and gave the company a “buy” rating in a research report on Wednesday. Finally, ValuEngine cut shares of Construction Partners from a “hold” rating to a “sell” rating in a research report on Thursday, October 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. Construction Partners currently has an average rating of “Buy” and a consensus price target of $14.00.
Shares of ROAD opened at $9.03 on Wednesday. The company has a quick ratio of 1.74, a current ratio of 1.94 and a debt-to-equity ratio of 0.18. Construction Partners has a 12 month low of $8.17 and a 12 month high of $14.06.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. acquired a new position in shares of Construction Partners during the second quarter valued at about $3,570,000. Monarch Partners Asset Management LLC acquired a new position in shares of Construction Partners during the second quarter valued at about $616,000. Royce & Associates LP acquired a new position in shares of Construction Partners during the second quarter valued at about $1,334,000. Bank of New York Mellon Corp acquired a new position in shares of Construction Partners during the second quarter valued at about $8,272,000. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Construction Partners by 17.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 793,608 shares of the company’s stock valued at $9,603,000 after purchasing an additional 118,738 shares during the period. Hedge funds and other institutional investors own 20.53% of the company’s stock.
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.
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