Construction Partners Inc (NASDAQ:ROAD) – Stock analysts at Imperial Capital lifted their Q3 2019 EPS estimates for Construction Partners in a research note issued to investors on Tuesday, May 14th. Imperial Capital analyst A. Hackel now forecasts that the company will earn $0.30 per share for the quarter, up from their previous forecast 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.
ROAD has been the subject of several other research reports. ValuEngine raised shares of Construction Partners from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. Zacks Investment Research raised shares of Construction Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, February 13th. Finally, Raymond James set a $14.00 price target on shares of Construction Partners and gave the company a “buy” rating in a research report on Thursday, February 14th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Construction Partners currently has a consensus rating of “Buy” and a consensus price target of $14.92.
Shares of ROAD stock opened at $13.66 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. Construction Partners has a 52 week low of $7.70 and a 52 week high of $14.06. The company has a market capitalization of $647.26 million and a price-to-earnings ratio of 15.88.
Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.03. Construction Partners had a net margin of 5.20% and a return on equity of 12.80%. The company had revenue of $164.30 million during the quarter, compared to analysts’ expectations of $145.80 million. During the same quarter last year, the company posted $0.27 EPS. The firm’s revenue was up 38.2% compared to the same quarter last year.
Several institutional investors and hedge funds have recently made changes to their positions in ROAD. Bank of New York Mellon Corp raised its holdings in shares of Construction Partners by 40.5% in the 4th quarter. Bank of New York Mellon Corp now owns 939,024 shares of the company’s stock valued at $8,291,000 after purchasing an additional 270,822 shares in the last quarter. Royce & Associates LP raised its holdings in shares of Construction Partners by 145.8% in the 4th quarter. Royce & Associates LP now owns 421,600 shares of the company’s stock valued at $3,723,000 after purchasing an additional 250,100 shares in the last quarter. ArrowMark Colorado Holdings LLC raised its holdings in shares of Construction Partners by 10.9% in the 1st quarter. ArrowMark Colorado Holdings LLC now owns 2,187,913 shares of the company’s stock valued at $27,940,000 after purchasing an additional 215,385 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Construction Partners by 21.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 964,803 shares of the company’s stock valued at $8,519,000 after purchasing an additional 171,195 shares in the last quarter. Finally, Tygh Capital Management Inc. raised its holdings in shares of Construction Partners by 76.5% in the 4th quarter. Tygh Capital Management Inc. now owns 283,624 shares of the company’s stock valued at $2,504,000 after purchasing an additional 122,915 shares in the last quarter. Institutional investors and hedge funds own 20.57% of the company’s stock.
Construction Partners Company Profile
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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