DA Davidson Has Bearish Estimate for ROAD FY2024 Earnings

Construction Partners, Inc. (NASDAQ:ROAD) – DA Davidson cut their FY2024 earnings per share (EPS) estimates for shares of Construction Partners in a report issued on Tuesday, October 22nd. DA Davidson analyst B. Thielman now expects that the company will post earnings of $1.33 per share for the year, down from their previous estimate of $1.44. DA Davidson has a “Neutral” rating and a $55.00 price target on the stock. The consensus estimate for Construction Partners’ current full-year earnings is $1.43 per share. DA Davidson also issued estimates for Construction Partners’ FY2025 earnings at $1.77 EPS.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings results on Friday, August 9th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.05. Construction Partners had a return on equity of 13.34% and a net margin of 4.01%. The firm had revenue of $517.80 million for the quarter, compared to analyst estimates of $503.57 million. During the same period in the previous year, the company posted $0.41 earnings per share. The business’s revenue was up 22.7% on a year-over-year basis.

A number of other research firms have also weighed in on ROAD. Robert W. Baird boosted their price target on shares of Construction Partners from $68.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday. Stifel Nicolaus raised their target price on shares of Construction Partners from $61.00 to $67.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, Raymond James upped their price target on Construction Partners from $69.00 to $72.00 and gave the company a “strong-buy” rating in a research report on Monday, August 12th. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Construction Partners currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.00.

Construction Partners Trading Down 2.0 %

Shares of ROAD opened at $77.49 on Thursday. Construction Partners has a 52-week low of $36.70 and a 52-week high of $86.00. The stock has a market cap of $4.08 billion, a PE ratio of 66.23, a price-to-earnings-growth ratio of 1.50 and a beta of 0.67. The firm’s fifty day moving average is $68.63 and its two-hundred day moving average is $60.67. The company has a quick ratio of 1.30, a current ratio of 1.60 and a debt-to-equity ratio of 0.82.

Institutional Investors Weigh In On Construction Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC increased its position in shares of Construction Partners by 47.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 207,422 shares of the company’s stock valued at $14,478,000 after acquiring an additional 67,150 shares during the last quarter. nVerses Capital LLC increased its holdings in Construction Partners by 19.0% in the 3rd quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock valued at $174,000 after purchasing an additional 400 shares during the last quarter. NBC Securities Inc. increased its holdings in Construction Partners by 36.9% in the 3rd quarter. NBC Securities Inc. now owns 4,927 shares of the company’s stock valued at $343,000 after purchasing an additional 1,327 shares during the last quarter. Creative Planning raised its position in Construction Partners by 22.8% in the third quarter. Creative Planning now owns 7,060 shares of the company’s stock valued at $493,000 after purchasing an additional 1,311 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Construction Partners by 24.4% during the third quarter. GAMMA Investing LLC now owns 873 shares of the company’s stock worth $61,000 after purchasing an additional 171 shares in the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Insiders Place Their Bets

In other Construction Partners news, Director Mark R. Matteson sold 25,408 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $61.97, for a total value of $1,574,533.76. Following the transaction, the director now directly owns 102,592 shares in the company, valued at $6,357,626.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 18.80% of the stock is owned by insiders.

Construction Partners Company Profile

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.