Research Analysts Offer Predictions for Construction Partners, Inc.’s Q1 2023 Earnings (NASDAQ:ROAD)

Construction Partners, Inc. (NASDAQ:ROADGet Rating) – Research analysts at DA Davidson issued their Q1 2023 earnings per share estimates for Construction Partners in a research report issued on Wednesday, November 23rd. DA Davidson analyst B. Thielman anticipates that the company will post earnings of $0.05 per share for the quarter. The consensus estimate for Construction Partners’ current full-year earnings is $0.75 per share. DA Davidson also issued estimates for Construction Partners’ FY2024 earnings at $1.03 EPS.

Several other analysts have also recently weighed in on the company. Robert W. Baird boosted their price target on Construction Partners from $26.00 to $32.00 in a report on Monday, August 8th. Raymond James boosted their price target on Construction Partners from $35.00 to $37.00 and gave the stock a “strong-buy” rating in a report on Monday. Three investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $32.75.

Construction Partners Stock Performance

NASDAQ:ROAD opened at $27.57 on Thursday. The stock has a market cap of $1.45 billion, a P/E ratio of 67.24, a price-to-earnings-growth ratio of 0.98 and a beta of 0.95. The company has a current ratio of 1.91, a quick ratio of 1.53 and a debt-to-equity ratio of 0.79. The stock’s 50-day moving average is $28.99 and its 200-day moving average is $25.86. Construction Partners has a 1-year low of $18.89 and a 1-year high of $37.63.

Insider Activity at Construction Partners

In related news, Director Suntx Capital Management Corp. sold 50,922 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $27.94, for a total value of $1,422,760.68. Following the sale, the director now directly owns 29,731 shares in the company, valued at $830,684.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Suntx Capital Management Corp. sold 50,922 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $27.94, for a total value of $1,422,760.68. Following the sale, the director now directly owns 29,731 shares in the company, valued at $830,684.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Noreen E. Skelly sold 3,100 shares of the company’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $28.30, for a total value of $87,730.00. Following the completion of the sale, the director now owns 22,091 shares in the company, valued at $625,175.30. The disclosure for this sale can be found here. 24.35% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Construction Partners

Institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio lifted its stake in Construction Partners by 40.4% in the third quarter. Public Employees Retirement System of Ohio now owns 1,102 shares of the company’s stock valued at $29,000 after buying an additional 317 shares during the period. Quantbot Technologies LP acquired a new position in Construction Partners in the first quarter valued at approximately $36,000. Great West Life Assurance Co. Can acquired a new position in Construction Partners in the third quarter valued at approximately $46,000. Point72 Hong Kong Ltd acquired a new position in Construction Partners in the third quarter valued at approximately $46,000. Finally, Captrust Financial Advisors lifted its stake in Construction Partners by 37.1% in the second quarter. Captrust Financial Advisors now owns 2,223 shares of the company’s stock valued at $47,000 after buying an additional 602 shares during the period. 77.97% of the stock is owned by institutional investors and hedge funds.

About Construction Partners

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Construction Partners, Inc, a civil infrastructure company, engages in the construction and maintenance of roadways across Alabama, Florida, Georgia, North Carolina, and South Carolina. The company, through its subsidiaries, provides various products and services to public and private infrastructure projects, with a focus on highways, roads, bridges, airports, and commercial and residential developments.

Further Reading

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