Brokers Set Expectations for Construction Partners Inc’s FY2019 Earnings (ROAD)

Construction Partners Inc (NASDAQ:ROAD) – Stock analysts at Imperial Capital cut their FY2019 earnings per share (EPS) estimates for Construction Partners in a report released on Wednesday, November 7th. Imperial Capital analyst A. Hackel now expects that the company will post earnings of $0.83 per share for the year, down from their prior forecast of $0.85. Imperial Capital currently has a “Outperform” rating and a $14.00 target price on the stock. Imperial Capital also issued estimates for Construction Partners’ Q4 2019 earnings at $0.31 EPS and FY2020 earnings at $0.92 EPS.

Construction Partners (NASDAQ:ROAD) last posted its earnings results on Thursday, August 9th. The company reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.06. The company had revenue of $195.10 million for the quarter, compared to the consensus estimate of $192.54 million. The firm’s revenue was up 31.7% compared to the same quarter last year.

Several other research firms have also commented on ROAD. Zacks Investment Research raised Construction Partners from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a report on Wednesday, August 1st. ValuEngine lowered Construction Partners from a “hold” rating to a “sell” rating in a report on Thursday, October 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Construction Partners currently has an average rating of “Buy” and a consensus price target of $14.25.

NASDAQ:ROAD opened at $9.69 on Thursday. Construction Partners has a 52 week low of $8.17 and a 52 week high of $14.06. The company has a current ratio of 1.94, a quick ratio of 1.74 and a debt-to-equity ratio of 0.18.

Large investors have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA bought a new position in Construction Partners in the 2nd quarter worth approximately $8,888,000. Bank of New York Mellon Corp bought a new position in Construction Partners in the 2nd quarter worth approximately $8,272,000. Wasatch Advisors Inc. bought a new position in Construction Partners in the 2nd quarter worth approximately $8,004,000. Gilder Gagnon Howe & Co. LLC bought a new position in Construction Partners in the 2nd quarter worth approximately $7,804,000. Finally, Summit Creek Advisors LLC bought a new position in Construction Partners in the 2nd quarter worth approximately $6,006,000. 21.03% of the stock is owned by institutional investors.

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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Earnings History and Estimates for Construction Partners (NASDAQ:ROAD)

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