Q3 2019 EPS Estimates for Construction Partners Inc Boosted by Imperial Capital (ROAD)

Construction Partners Inc (NASDAQ:ROAD) – Analysts at Imperial Capital increased their Q3 2019 earnings per share estimates for Construction Partners in a report issued on Tuesday, May 14th. Imperial Capital analyst A. Hackel now forecasts that the company will post earnings of $0.30 per share for the quarter, up from their previous estimate of $0.28. Imperial Capital has a “Outperform” rating and a $15.50 price target on the stock. Imperial Capital also issued estimates for Construction Partners’ Q4 2019 earnings at $0.37 EPS.

Construction Partners (NASDAQ:ROAD) last issued its earnings results on Thursday, May 9th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.03. The company had revenue of $164.30 million during the quarter, compared to analysts’ expectations of $145.80 million. Construction Partners had a return on equity of 12.80% and a net margin of 5.20%. The firm’s quarterly revenue was up 38.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.27 EPS.

Several other analysts have also recently issued reports on the company. Zacks Investment Research upgraded 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, April 17th. Raymond James set a $14.00 target price on Construction Partners and gave the company a “buy” rating in a report on Thursday, February 14th. Finally, ValuEngine upgraded Construction Partners from a “sell” rating to a “hold” rating in a report on Monday, April 1st. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $14.92.

Shares of NASDAQ:ROAD opened at $12.94 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.30 and a quick ratio of 2.03. The firm has a market capitalization of $647.26 million and a price-to-earnings ratio of 15.05. Construction Partners has a 52-week low of $7.70 and a 52-week high of $14.06.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ArrowMark Colorado Holdings LLC grew its holdings in shares of Construction Partners by 10.9% during the 1st quarter. ArrowMark Colorado Holdings LLC now owns 2,187,913 shares of the company’s stock worth $27,940,000 after purchasing an additional 215,385 shares during the period. Wasatch Advisors Inc. grew its holdings in shares of Construction Partners by 12.0% during the 1st quarter. Wasatch Advisors Inc. now owns 1,123,228 shares of the company’s stock worth $14,344,000 after purchasing an additional 120,052 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Construction Partners by 21.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 964,803 shares of the company’s stock worth $8,519,000 after purchasing an additional 171,195 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Construction Partners by 40.5% during the 4th quarter. Bank of New York Mellon Corp now owns 939,024 shares of the company’s stock worth $8,291,000 after purchasing an additional 270,822 shares during the period. Finally, Summit Creek Advisors LLC grew its holdings in shares of Construction Partners by 20.6% during the 1st quarter. Summit Creek Advisors LLC now owns 676,478 shares of the company’s stock worth $8,639,000 after purchasing an additional 115,450 shares during the period. Institutional investors and hedge funds own 20.57% of the company’s stock.

About Construction Partners

Construction Partners, Inc, an infrastructure and road construction company, provides construction products and services to public and private sectors. It offers construction of highways, roads, bridges, airports, and commercial and residential sites. The company provides a range of sitework construction services, including site development, paving, and utility and drainage systems construction, as well as supplies hot mix asphalt required for the projects.

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

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