Construction Partners (NASDAQ:ROAD) Posts Earnings Results, Misses Expectations By $0.01 EPS

Construction Partners (NASDAQ:ROAD - Get Free Report) posted its earnings results on Thursday. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.01), Briefing.com reports. The firm had revenue of $538.16 million during the quarter, compared to the consensus estimate of $538.04 million. Construction Partners had a return on equity of 13.34% and a net margin of 4.01%. The firm's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.59 EPS.

Construction Partners Stock Up 6.1 %

Construction Partners stock traded up $5.54 during midday trading on Thursday, hitting $96.85. 899,445 shares of the company's stock were exchanged, compared to its average volume of 363,682. The company has a market cap of $5.11 billion, a PE ratio of 71.74, a P/E/G ratio of 1.16 and a beta of 0.65. Construction Partners has a 12 month low of $39.79 and a 12 month 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. The firm has a 50-day moving average of $78.38 and a two-hundred day moving average of $65.26.

Wall Street Analysts Forecast Growth

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

Construction Partners Company Profile

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.