Construction Partners Inc (ROAD) Expected to Announce Quarterly Sales of $215.22 Million

Wall Street analysts expect that Construction Partners Inc (NASDAQ:ROAD) will announce sales of $215.22 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Construction Partners’ earnings. The lowest sales estimate is $214.07 million and the highest is $216.00 million. The company is expected to announce its next earnings report after the market closes on Monday, December 10th.

According to Zacks, analysts expect that Construction Partners will report full year sales of $679.49 million for the current financial year, with estimates ranging from $678.47 million to $680.10 million. For the next financial year, analysts expect that the business will post sales of $768.16 million, with estimates ranging from $748.01 million to $793.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Construction Partners.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings results on Thursday, August 9th. The company reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.06. The business had revenue of $195.10 million during the quarter, compared to analysts’ expectations of $192.54 million. The business’s revenue was up 31.7% compared to the same quarter last year.

ROAD has been the topic of a number of analyst reports. Zacks Investment Research upgraded Construction Partners from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research note on Wednesday, August 1st. ValuEngine downgraded Construction Partners from a “hold” rating to a “sell” rating in a research note on Thursday, October 18th. Finally, Imperial Capital decreased their price target on Construction Partners from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $14.25.

Construction Partners stock opened at $9.69 on Friday. The company has a quick ratio of 1.74, a current ratio of 1.94 and a debt-to-equity ratio of 0.18. Construction Partners has a 1-year low of $8.17 and a 1-year high of $14.06.

A number of hedge funds have recently modified their holdings of ROAD. Summit Creek Advisors LLC acquired a new position in Construction Partners during the second quarter worth $6,006,000. Penn Capital Management Co. Inc. acquired a new position in Construction Partners during the second quarter worth $3,791,000. Broadview Advisors LLC acquired a new position in Construction Partners during the second quarter worth $2,920,000. Massachusetts Financial Services Co. MA acquired a new position in Construction Partners during the second quarter worth $8,888,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in Construction Partners during the second quarter worth $203,000. 21.03% of the stock is owned by hedge funds and other institutional investors.

About Construction Partners

Construction Partners, Inc, an infrastructure and road construction company, provides construction products and services to public and private sectors. Its services cover construction of highways, roads, bridges, airports, and commercial and residential sites. The company provides site development, paving, utility and drainage systems, as well as supplies hot mix asphalt.

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Earnings History and Estimates for Construction Partners (NASDAQ:ROAD)

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