Construction Partners Inc (ROAD) Expected to Post Quarterly Sales of $170.23 Million

Equities research analysts expect Construction Partners Inc (NASDAQ:ROAD) to announce $170.23 million in sales for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Construction Partners’ earnings, with the lowest sales estimate coming in at $163.40 million and the highest estimate coming in at $175.00 million. The company is scheduled to issue its next quarterly earnings report on Monday, March 11th.

According to Zacks, analysts expect that Construction Partners will report full-year sales of $777.91 million for the current fiscal year, with estimates ranging from $770.00 million to $784.80 million. For the next financial year, analysts anticipate that the business will report sales of $834.04 million, with estimates ranging from $825.00 million to $843.70 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that cover Construction Partners.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings results on Tuesday, December 11th. The company reported $0.29 EPS for the quarter, meeting analysts’ consensus estimates of $0.29. The company had revenue of $215.70 million during the quarter, compared to the consensus estimate of $215.45 million. The company’s revenue was up 15.0% on a year-over-year basis.

A number of analysts recently commented on the company. Imperial Capital decreased their price target on Construction Partners from $16.00 to $14.00 and set an “outperform” rating for the company in a research report on Thursday, November 8th. ValuEngine downgraded Construction Partners from a “hold” rating to a “sell” rating in a research report on Thursday, October 18th. Zacks Investment Research downgraded Construction Partners from a “hold” rating to a “sell” rating in a research report on Thursday, January 10th. Raymond James decreased their price target on Construction Partners from $15.00 to $13.00 and set a “strong-buy” rating for the company in a research report on Wednesday, December 12th. Finally, DA Davidson set a $15.00 price target on Construction Partners and gave the company a “buy” rating in a research report on Friday, November 23rd. Two equities research analysts have rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $14.00.

In other news, insider John L. Harper bought 9,000 shares of the firm’s stock in a transaction on Friday, December 14th. The stock was acquired at an average cost of $8.41 per share, with a total value of $75,690.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ned N. Fleming III bought 4,000 shares of the firm’s stock in a transaction on Friday, December 21st. The stock was purchased at an average cost of $8.47 per share, with a total value of $33,880.00. The disclosure for this purchase can be found here. Insiders acquired 14,500 shares of company stock valued at $122,605 over the last three months.

A number of large investors have recently added to or reduced their stakes in ROAD. Bank of New York Mellon Corp purchased a new stake in Construction Partners in the second quarter worth $8,272,000. BlackRock Inc. bought a new position in shares of Construction Partners in the second quarter worth $229,000. Raymond James & Associates bought a new position in shares of Construction Partners in the second quarter worth $301,000. Bank of America Corp DE bought a new position in shares of Construction Partners in the second quarter worth $1,841,000. Finally, Northern Trust Corp bought a new position in shares of Construction Partners in the second quarter worth $1,004,000. 20.53% of the stock is owned by institutional investors and hedge funds.

Shares of Construction Partners stock opened at $10.74 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.99 and a quick ratio of 1.81. The company has a market capitalization of $537.25 million and a PE ratio of 12.49. Construction Partners has a 52 week low of $7.70 and a 52 week high of $14.06.

Construction Partners Company Profile

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.

Featured Article: Index Funds

Get a free copy of the Zacks research report on Construction Partners (ROAD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Construction Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Construction Partners and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply