Construction Partners (NASDAQ:ROAD) Releases Earnings Results, Beats Estimates By $0.06 EPS

Construction Partners (NASDAQ:ROADGet Free Report) released its quarterly earnings results on Friday. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.13 by $0.06, Briefing.com reports. The company had revenue of $396.51 million for the quarter, compared to analyst estimates of $393.62 million. Construction Partners had a return on equity of 10.27% and a net margin of 3.13%. The firm’s revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.04 earnings per share. Construction Partners updated its FY 2024 guidance to EPS.

Construction Partners Trading Down 7.0 %

Shares of ROAD stock opened at $46.81 on Friday. The business’s 50 day moving average is $43.56 and its two-hundred day moving average is $39.32. Construction Partners has a twelve month low of $24.12 and a twelve month high of $50.70. The company has a market capitalization of $2.47 billion, a P/E ratio of 43.34 and a beta of 0.64. The company has a current ratio of 1.70, a quick ratio of 1.39 and a debt-to-equity ratio of 0.70.

Insider Buying and Selling at Construction Partners

In other Construction Partners news, Director Craig Jennings sold 50,000 shares of Construction Partners stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $42.64, for a total value of $2,132,000.00. Following the transaction, the director now directly owns 50,000 shares in the company, valued at approximately $2,132,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 18.80% of the company’s stock.

Institutional Trading of Construction Partners

Institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio boosted its stake in shares of 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 in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Construction Partners by 304.5% in the first quarter. Tower Research Capital LLC TRC now owns 1,169 shares of the company’s stock valued at $31,000 after buying an additional 880 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Construction Partners in the first quarter valued at approximately $36,000. Lazard Asset Management LLC purchased a new stake in Construction Partners during the first quarter worth $54,000. Finally, Captrust Financial Advisors boosted its position in Construction Partners by 37.1% during the second 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. 77.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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Construction Partners Company Profile

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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.

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Earnings History for Construction Partners (NASDAQ:ROAD)

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