Analysts Expect Construction Partners Inc (ROAD) to Announce $0.29 EPS

Equities research analysts expect Construction Partners Inc (NASDAQ:ROAD) to post earnings per share of $0.29 for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Construction Partners’ earnings. The highest EPS estimate is $0.30 and the lowest is $0.28. The company is scheduled to issue its next quarterly earnings report after the market closes on Monday, December 10th.

According to Zacks, analysts expect that Construction Partners will report full year earnings of $1.11 per share for the current fiscal year, with EPS estimates ranging from $1.10 to $1.13. For the next year, analysts anticipate that the company will post earnings of $0.82 per share, with EPS estimates ranging from $0.79 to $0.85. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover Construction Partners.

A number of analysts have recently weighed in on the stock. DA Davidson set a $15.00 target price on shares of Construction Partners and gave the stock a “buy” rating in a research report on Friday, November 23rd. Imperial Capital reduced their target price on shares of Construction Partners from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Thursday, November 8th. Zacks Investment Research downgraded shares of Construction Partners from a “buy” rating to a “hold” rating in a research report on Friday, October 26th. Finally, ValuEngine downgraded shares of Construction Partners from a “hold” rating to a “sell” rating in a research report on Thursday, October 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $14.33.

A number of hedge funds have recently made changes to their positions in the stock. Mesirow Financial Investment Management Inc. grew its position in Construction Partners by 20.6% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 32,888 shares of the company’s stock valued at $398,000 after purchasing an additional 5,623 shares during the last quarter. BlackRock Inc. grew its position in Construction Partners by 44.2% during the 3rd quarter. BlackRock Inc. now owns 25,050 shares of the company’s stock valued at $304,000 after purchasing an additional 7,681 shares during the last quarter. Russell Investments Group Ltd. grew its position in Construction Partners by 4.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 284,120 shares of the company’s stock valued at $3,439,000 after purchasing an additional 13,070 shares during the last quarter. Credit Suisse AG purchased a new stake in Construction Partners during the 3rd quarter valued at about $185,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in Construction Partners during the 2nd quarter valued at about $203,000. 20.53% of the stock is currently owned by institutional investors.

Shares of NASDAQ:ROAD traded down $0.70 during midday trading on Friday, reaching $9.00. The company’s stock had a trading volume of 73,324 shares, compared to its average volume of 59,538. The company has a quick ratio of 1.74, a current ratio of 1.94 and a debt-to-equity ratio of 0.18. Construction Partners has a 12-month low of $8.17 and a 12-month 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.

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

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