Q4 EPS Estimate for Construction Partners Reduced by Analyst

Construction Partners, Inc. (NASDAQ:ROAD) – Analysts at DA Davidson decreased their Q4 2024 EPS estimates for Construction Partners in a research note issued on Tuesday, October 22nd. DA Davidson analyst B. Thielman now anticipates that the company will post earnings per share of $0.57 for the quarter, down from their prior forecast of $0.68. DA Davidson has a “Neutral” rating and a $55.00 price objective on the stock. The consensus estimate for Construction Partners’ current full-year earnings is $1.43 per share.

Several other equities analysts have also commented on ROAD. Robert W. Baird upped 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. Raymond James upped their target price on shares of Construction Partners from $69.00 to $72.00 and gave the stock a “strong-buy” rating in a research report on Monday, August 12th. Finally, Stifel Nicolaus lifted their price target on Construction Partners from $61.00 to $67.00 and gave the company a “buy” rating in a report on Monday, August 12th. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $69.00.

Construction Partners Price Performance

Shares of NASDAQ ROAD opened at $81.77 on Wednesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.60 and a quick ratio of 1.30. The firm has a market capitalization of $4.31 billion, a PE ratio of 69.89, a P/E/G ratio of 1.35 and a beta of 0.67. Construction Partners has a 1-year low of $36.70 and a 1-year high of $86.00. The business’s fifty day moving average price is $67.99 and its two-hundred day moving average price is $60.41.

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

Insider Buying and Selling

In other Construction Partners news, Director Mark R. Matteson sold 25,408 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $61.97, for a total transaction of $1,574,533.76. Following the transaction, the director now owns 102,592 shares of the company’s stock, valued at approximately $6,357,626.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 18.80% of the company’s stock.

Hedge Funds Weigh In On Construction Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ROAD. Vanguard Group Inc. lifted its holdings in shares of Construction Partners by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 2,346,238 shares of the company’s stock valued at $102,108,000 after buying an additional 55,752 shares during the period. Cannon Global Investment Management LLC bought a new position in shares of Construction Partners during the 1st quarter valued at about $460,000. Wasatch Advisors LP grew its stake in shares of Construction Partners by 188.3% in the 1st quarter. Wasatch Advisors LP now owns 1,692,328 shares of the company’s stock worth $95,024,000 after purchasing an additional 1,105,423 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in Construction Partners by 244.4% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,178 shares of the company’s stock valued at $66,000 after purchasing an additional 836 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Construction Partners by 86.5% during the first quarter. Principal Financial Group Inc. now owns 40,229 shares of the company’s stock worth $2,259,000 after buying an additional 18,664 shares in the last quarter. 94.83% of the stock is owned by institutional investors.

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.