Equities analysts expect Construction Partners, Inc. (NASDAQ:ROAD) to post $207.32 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Construction Partners’ earnings, with the lowest sales estimate coming in at $203.00 million and the highest estimate coming in at $215.91 million. Construction Partners reported sales of $168.68 million during the same quarter last year, which indicates a positive year-over-year growth rate of 22.9%. The company is scheduled to report its next quarterly earnings report before the market opens on Friday, May 7th.
According to Zacks, analysts expect that Construction Partners will report full-year sales of $965.26 million for the current year, with estimates ranging from $950.33 million to $980.00 million. For the next financial year, analysts forecast that the company will report sales of $1.04 billion, with estimates ranging from $1.01 billion to $1.08 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Construction Partners.
Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings data on Thursday, February 4th. The company reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.02. The firm had revenue of $190.90 million during the quarter, compared to analyst estimates of $198.76 million. Construction Partners had a return on equity of 11.10% and a net margin of 5.13%. Construction Partners’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.11 earnings per share.
A number of brokerages have commented on ROAD. Raymond James lifted their target price on Construction Partners from $30.00 to $34.00 and gave the company an “outperform” rating in a research note on Monday, February 8th. DA Davidson boosted their price objective on Construction Partners from $18.00 to $25.00 and gave the stock a “neutral” rating in a research report on Monday, December 14th. Finally, Zacks Investment Research cut Construction Partners from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 11th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Construction Partners has an average rating of “Buy” and a consensus price target of $24.57.
In other news, Director Suntx Capital Management Corp. sold 1,180,000 shares of the business’s stock in a transaction on Thursday, January 14th. The shares were sold at an average price of $32.31, for a total transaction of $38,125,800.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP John L. Harper sold 20,000 shares of the business’s stock in a transaction on Friday, February 26th. The shares were sold at an average price of $28.80, for a total transaction of $576,000.00. Following the transaction, the senior vice president now owns 197,682 shares in the company, valued at $5,693,241.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,205,000 shares of company stock worth $100,567,000. Company insiders own 63.94% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Exane Derivatives boosted its holdings in Construction Partners by 71.5% in the fourth quarter. Exane Derivatives now owns 2,193 shares of the company’s stock worth $64,000 after purchasing an additional 914 shares in the last quarter. Group One Trading L.P. boosted its holdings in Construction Partners by 1,700.0% in the fourth quarter. Group One Trading L.P. now owns 3,600 shares of the company’s stock worth $105,000 after purchasing an additional 3,400 shares in the last quarter. Sowell Financial Services LLC bought a new stake in Construction Partners in the fourth quarter worth $116,000. Great West Life Assurance Co. Can boosted its holdings in Construction Partners by 247.4% in the third quarter. Great West Life Assurance Co. Can now owns 3,439 shares of the company’s stock worth $135,000 after purchasing an additional 2,449 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Construction Partners during the fourth quarter valued at about $146,000. Institutional investors and hedge funds own 66.44% of the company’s stock.
ROAD stock traded up $0.38 during midday trading on Tuesday, reaching $30.24. The company had a trading volume of 1,738 shares, compared to its average volume of 456,299. The company has a quick ratio of 2.16, a current ratio of 2.44 and a debt-to-equity ratio of 0.21. The stock has a 50 day moving average price of $29.56 and a 200 day moving average price of $26.66. Construction Partners has a fifty-two week low of $12.84 and a fifty-two week high of $36.58. The firm has a market capitalization of $1.57 billion, a PE ratio of 38.28, a P/E/G ratio of 3.07 and a beta of 1.06.
About Construction Partners
Construction Partners, Inc, a civil infrastructure company, engages in the construction and maintenance of roadways across Alabama, Florida, Georgia, North Carolina, and South Carolina. The company, through its subsidiaries, provides various products and services to public and private infrastructure projects, with a focus on highways, roads, bridges, airports, and commercial and residential developments.
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