Construction Partners (NASDAQ:ROAD) Announces Earnings Results, Misses Estimates By $0.01 EPS

Construction Partners (NASDAQ:ROAD) announced its quarterly earnings results on Thursday. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01), Briefing.com reports. Construction Partners had a net margin of 4.01% and a return on equity of 13.34%. The business had revenue of $538.16 million for the quarter, compared to analysts’ expectations of $538.04 million. During the same quarter in the prior year, the firm earned $0.59 EPS. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis.

Construction Partners Stock Performance

ROAD opened at $96.85 on Friday. The stock has a market capitalization of $5.11 billion, a price-to-earnings ratio of 71.74, a PEG ratio of 1.16 and a beta of 0.65. The company has a fifty day moving average of $78.38 and a 200 day moving average of $65.26. Construction Partners has a fifty-two week low of $39.79 and a fifty-two week high of $100.47. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.30 and a current ratio of 1.60.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ROAD shares. DA Davidson upped their target price on Construction Partners from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Robert W. Baird upped their price objective on Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus lifted their price objective on Construction Partners from $61.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, Raymond James boosted their price target on Construction Partners from $69.00 to $72.00 and gave the company a “strong-buy” rating in a report on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $69.00.

About Construction Partners

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.