Construction Partners (NASDAQ:ROAD) Announces Earnings Results, Misses Estimates By $0.04 EPS

Construction Partners (NASDAQ:ROAD) released its earnings results on Thursday. The company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.04), Zacks reports. Construction Partners had a net margin of 3.04% and a return on equity of 12.24%. The firm had revenue of $899.85 million during the quarter, compared to analyst estimates of $896.17 million. During the same quarter in the previous year, the firm earned $0.56 EPS. Construction Partners’s quarterly revenue was up 67.2% on a year-over-year basis.

Construction Partners Stock Performance

NASDAQ ROAD opened at $98.86 on Friday. The company has a fifty day simple moving average of $119.24 and a 200 day simple moving average of $111.24. Construction Partners has a 12-month low of $64.79 and a 12-month high of $138.90. The company has a current ratio of 1.47, a quick ratio of 1.20 and a debt-to-equity ratio of 1.63. The company has a market cap of $5.55 billion, a P/E ratio of 72.16, a PEG ratio of 0.92 and a beta of 1.02.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Danske Bank A S acquired a new position in shares of Construction Partners during the third quarter valued at about $38,000. Advisory Services Network LLC lifted its position in Construction Partners by 8.8% in the 3rd quarter. Advisory Services Network LLC now owns 5,764 shares of the company’s stock valued at $732,000 after acquiring an additional 468 shares in the last quarter. NewEdge Advisors LLC lifted its position in Construction Partners by 56.4% in the 3rd quarter. NewEdge Advisors LLC now owns 882 shares of the company’s stock valued at $112,000 after acquiring an additional 318 shares in the last quarter. Caxton Associates LLP acquired a new position in Construction Partners during the 3rd quarter valued at about $308,000. Finally, PharVision Advisers LLC bought a new stake in Construction Partners during the 3rd quarter worth approximately $253,000. 94.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ROAD. Zacks Research downgraded Construction Partners from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. DA Davidson lifted their target price on Construction Partners from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, October 23rd. Baird R W upgraded Construction Partners from a “hold” rating to a “strong-buy” rating in a report on Friday, August 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Construction Partners in a research report on Tuesday. Finally, Robert W. Baird dropped their target price on shares of Construction Partners from $131.00 to $124.00 and set an “outperform” rating on the stock in a research report on Friday. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.50.

About Construction Partners

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.