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

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

Construction Partners (NASDAQ:ROADGet Free Report) last announced its quarterly earnings data on Wednesday, November 29th. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. Construction Partners had a net margin of 3.13% and a return on equity of 10.27%. The company had revenue of $475.00 million during the quarter, compared to the consensus estimate of $465.32 million. During the same quarter last year, the firm posted $0.25 EPS. The company’s quarterly revenue was up 20.8% on a year-over-year basis. 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 ROAD stock opened at $49.72 on Thursday. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of 53.46 and a beta of 0.64. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.39 and a current ratio of 1.70. The company has a 50-day simple moving average of $43.28 and a 200 day simple moving average of $39.04. Construction Partners has a 52 week low of $24.12 and a 52 week high of $50.16.

Insiders Place Their Bets

In other Construction Partners news, Director Suntx Capital Ii Management Co sold 50,000 shares of Construction Partners stock in a transaction dated 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 18.80% of the company’s stock.

Hedge Funds Weigh In On Construction Partners

Several hedge funds and other institutional investors have recently made changes to their positions in ROAD. Public Employees Retirement System of Ohio raised its position in shares of Construction Partners by 40.4% in the 3rd 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 increased its position 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 stake in Construction Partners during the 1st quarter worth approximately $36,000. Captrust Financial Advisors grew 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 acquiring an additional 602 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new stake in Construction Partners during the 1st quarter worth approximately $54,000. 77.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Read Our Latest Research Report on Construction Partners

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.

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Earnings History for Construction Partners (NASDAQ:ROAD)

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