Construction Partners (NASDAQ:ROAD) Posts Quarterly Earnings Results, Misses Estimates By $0.25 EPS

Construction Partners (NASDAQ:ROAD) issued its earnings results on Tuesday. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.25), Briefing.com reports. The firm had revenue of $279.00 million during the quarter, compared to analyst estimates of $313.84 million. Construction Partners had a return on equity of 8.39% and a net margin of 3.48%. Construction Partners’s revenue was up 24.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.34 EPS. Construction Partners updated its FY 2022 guidance to EPS.

Shares of Construction Partners stock opened at $37.06 on Wednesday. The business’s fifty day moving average price is $35.99 and its two-hundred day moving average price is $33.59. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.46 and a quick ratio of 2.13. The company has a market capitalization of $1.94 billion, a P/E ratio of 65.02, a PEG ratio of 3.05 and a beta of 1.02. Construction Partners has a 1-year low of $24.51 and a 1-year high of $44.99.

ROAD has been the subject of a number of analyst reports. Bank of America lowered Construction Partners from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $37.00 to $43.00 in a research report on Friday, November 19th. Zacks Investment Research upgraded Construction Partners from a “sell” rating to a “hold” rating and set a $39.00 price objective for the company in a research report on Wednesday, October 13th. Finally, Stifel Nicolaus boosted their price objective on Construction Partners from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Construction Partners currently has an average rating of “Hold” and an average target price of $36.40.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Arbitrage SA raised its stake in shares of Construction Partners by 480.6% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 5,829 shares of the company’s stock worth $195,000 after buying an additional 4,825 shares in the last quarter. LPL Financial LLC bought a new stake in shares of Construction Partners in the 3rd quarter worth $209,000. Finally, Morgan Stanley raised its stake in shares of Construction Partners by 338.4% in the 2nd quarter. Morgan Stanley now owns 256,128 shares of the company’s stock worth $8,042,000 after buying an additional 197,707 shares in the last quarter. 66.93% of the stock is currently owned by institutional investors.

Construction Partners Company Profile

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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Earnings History for Construction Partners (NASDAQ:ROAD)

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