$249.37 Million in Sales Expected for Construction Partners Inc (NASDAQ:ROAD) This Quarter
Equities research analysts predict that Construction Partners Inc (NASDAQ:ROAD) will post sales of $249.37 million for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Construction Partners' earnings. The highest sales estimate is $255.06 million and the lowest is $244.00 million. Construction Partners reported sales of $215.70 million in the same quarter last year, which indicates a positive year-over-year growth rate of 15.6%. The company is expected to announce its next earnings results on Monday, December 9th.
According to Zacks, analysts expect that Construction Partners will report full-year sales of $797.25 million for the current year, with estimates ranging from $790.00 million to $800.98 million. For the next financial year, analysts forecast that the business will post sales of $854.93 million, with estimates ranging from $846.00 million to $862.42 million. Zacks Investment Research's sales calculations are an average based on a survey of sell-side research firms that cover Construction Partners.
Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.04. Construction Partners had a net margin of 5.48% and a return on equity of 13.47%. The business had revenue of $227.30 million for the quarter, compared to analyst estimates of $229.67 million. During the same period last year, the business posted $0.29 earnings per share. The firm's quarterly revenue was up 16.5% on a year-over-year basis.
A number of research analysts recently weighed in on the stock. Imperial Capital reaffirmed an "outperform" rating and issued a $17.25 target price (up previously from $15.50) on shares of Construction Partners in a research report on Thursday, August 15th. Zacks Investment Research raised shares of Construction Partners from a "hold" rating to a "strong-buy" rating and set a $17.00 target price for the company in a research report on Wednesday, August 14th. ValuEngine downgraded shares of Construction Partners from a "sell" rating to a "strong sell" rating in a research report on Wednesday, October 2nd. Finally, Raymond James raised their target price on shares of Construction Partners from $15.00 to $16.50 and gave the company a "strong-buy" rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, two have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of "Buy" and an average target price of $16.44.
In related news, Director Cpi Expansion Fund Gp L. Suntx sold 5,000,000 shares of the firm's stock in a transaction on Friday, September 20th. The shares were sold at an average price of $13.47, for a total value of $67,350,000.00. 74.79% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Strs Ohio bought a new position in shares of Construction Partners in the 2nd quarter valued at about $48,000. Bank of Montreal Can bought a new position in shares of Construction Partners in the 2nd quarter valued at about $50,000. Acadian Asset Management LLC bought a new position in shares of Construction Partners in the 2nd quarter valued at about $56,000. JPMorgan Chase & Co. bought a new position in shares of Construction Partners in the 2nd quarter valued at about $66,000. Finally, Rhumbline Advisers bought a new position in shares of Construction Partners in the 3rd quarter valued at about $175,000. 23.27% of the stock is owned by institutional investors.
Construction Partners stock traded down $0.23 during mid-day trading on Friday, reaching $16.67. The company's stock had a trading volume of 121,523 shares, compared to its average volume of 151,588. The company has a market capitalization of $879.22 million, a price-to-earnings ratio of 19.38 and a beta of 1.87. Construction Partners has a 12 month low of $7.70 and a 12 month high of $17.32. The business's 50 day simple moving average is $15.80 and its 200 day simple moving average is $14.28. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.69 and a current ratio of 1.97.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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