Construction Partners (ROAD) Set to Announce Quarterly Earnings on Friday

Construction Partners (NASDAQ:ROADGet Free Report) is scheduled to post its 12/31/2023 quarterly earnings results before the market opens on Friday, February 9th. Analysts expect Construction Partners to post earnings of $0.13 per share for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

Construction Partners (NASDAQ:ROADGet Free Report) last posted its quarterly earnings data on Wednesday, November 29th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.07. The firm had revenue of $475.00 million for the quarter, compared to the consensus estimate of $465.32 million. Construction Partners had a return on equity of 10.27% and a net margin of 3.13%. The business’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.25 EPS. On average, analysts expect Construction Partners to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Construction Partners Stock Performance

Shares of Construction Partners stock opened at $47.94 on Wednesday. The firm has a fifty day moving average of $43.12 and a two-hundred day moving average of $38.97. The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of 51.55 and a beta of 0.64. Construction Partners has a 52 week low of $24.12 and a 52 week high of $49.15. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.39 and a current ratio of 1.70.

Insider Activity at Construction Partners

In related news, Director Suntx Capital Ii Management Co sold 50,000 shares of the company’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $44.21, for a total value of $2,210,500.00. Following the completion of the sale, the director now owns 128,134 shares in the company, valued at approximately $5,664,804.14. The transaction was disclosed in a filing with the SEC, which is available through this link. 18.80% of the stock is owned by corporate insiders.

Institutional Trading of Construction Partners

A number of large investors have recently made changes to their positions in ROAD. Public Employees Retirement System of Ohio increased its holdings in Construction Partners by 40.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,102 shares of the company’s stock worth $29,000 after purchasing an additional 317 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Construction Partners by 304.5% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,169 shares of the company’s stock worth $31,000 after purchasing an additional 880 shares in the last quarter. Quantbot Technologies LP bought a new position in Construction Partners during the 1st quarter worth about $36,000. Captrust Financial Advisors increased its holdings in Construction Partners by 37.1% during the 2nd quarter. Captrust Financial Advisors now owns 2,223 shares of the company’s stock worth $47,000 after purchasing an additional 602 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in shares of Construction Partners during the 1st quarter worth about $54,000. Institutional investors own 77.19% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on ROAD. Raymond James upped their target price on shares of Construction Partners from $45.00 to $49.00 and gave the company a “strong-buy” rating in a research report on Friday, December 1st. Stifel Nicolaus upped their target price on shares of Construction Partners from $45.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, December 19th.

Read Our Latest Analysis on ROAD

About Construction Partners

(Get Free Report)

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.

Further Reading

Earnings History for Construction Partners (NASDAQ:ROAD)

Receive News & Ratings for Construction Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Construction Partners and related companies with MarketBeat.com's FREE daily email newsletter.