Construction Partners (NASDAQ:ROAD) posted its earnings results on Monday. The company reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.25), Briefing.com reports. Construction Partners had a return on equity of 8.39% and a net margin of 3.48%. The firm had revenue of $279.00 million during the quarter, compared to analysts’ expectations of $313.84 million. During the same quarter in the prior year, the company earned $0.34 earnings per share. The business’s revenue for the quarter was up 24.2% compared to the same quarter last year.
Shares of Construction Partners stock traded down $2.15 on Wednesday, hitting $36.97. 362 shares of the company traded hands, compared to its average volume of 275,003. The firm’s 50-day simple moving average is $35.99 and its 200 day simple moving average is $33.59. The company has a current ratio of 2.46, a quick ratio of 2.13 and a debt-to-equity ratio of 0.47. The company has a market cap of $1.93 billion, a P/E ratio of 65.02, a P/E/G ratio of 3.05 and a beta of 1.02. Construction Partners has a 12-month low of $24.51 and a 12-month high of $44.99.
Institutional investors have recently bought and sold shares of the company. Morgan Stanley raised its position in shares of Construction Partners by 338.4% during the 2nd quarter. Morgan Stanley now owns 256,128 shares of the company’s stock valued at $8,042,000 after buying an additional 197,707 shares in the last quarter. LPL Financial LLC bought a new position in shares of Construction Partners during the 3rd quarter valued at $209,000. Finally, BNP Paribas Arbitrage SA grew its holdings in shares of Construction Partners by 480.6% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 5,829 shares of the company’s stock valued at $195,000 after purchasing an additional 4,825 shares during the last quarter. Hedge funds and other institutional investors own 66.93% of the company’s stock.
About Construction Partners
Construction Partners, Inc engages in construction of roadways and highways. It acquires road construction companies with services in asphalt production, paving and other construction services for both the public and private sectors. The company was founded by Ned N. Fleming, R. Alan Palmer & Charles E.
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