DA Davidson Expects Lower Earnings for Construction Partners

Construction Partners, Inc. (NASDAQ:ROAD - Free Report) - Stock analysts at DA Davidson lowered their Q4 2024 earnings per share estimates for Construction Partners in a research note issued to investors on Tuesday, October 22nd. DA Davidson analyst B. Thielman now forecasts that the company will post earnings of $0.57 per share for the quarter, down from their previous forecast of $0.68. DA Davidson currently has a "Neutral" rating and a $55.00 price target on the stock. The consensus estimate for Construction Partners' current full-year earnings is $1.43 per share.

A number of other research firms have also recently commented on ROAD. Stifel Nicolaus upped their price objective on Construction Partners from $61.00 to $67.00 and gave the company a "buy" rating in a research report on Monday, August 12th. Raymond James increased their price objective on Construction Partners from $69.00 to $72.00 and gave the stock a "strong-buy" rating in a research note on Monday, August 12th. Finally, Robert W. Baird raised their price objective on Construction Partners from $68.00 to $92.00 and gave the stock a "neutral" rating in a research report on Tuesday. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued 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 Stock Down 2.4 %

Shares of ROAD stock traded down $2.02 during mid-day trading on Wednesday, hitting $81.77. The company's stock had a trading volume of 644,155 shares, compared to its average volume of 359,564. Construction Partners has a 52-week low of $36.70 and a 52-week high of $86.00. The business has a 50-day moving average price of $67.99 and a 200 day moving average price of $60.41. 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 stock has a market cap of $4.31 billion, a price-to-earnings ratio of 69.89, a PEG ratio of 1.35 and a beta of 0.67.

Construction Partners (NASDAQ:ROAD - Get Free Report) last announced its quarterly earnings data on Friday, August 9th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.05. The business had revenue of $517.80 million during the quarter, compared to analysts' expectations of $503.57 million. Construction Partners had a return on equity of 13.34% and a net margin of 4.01%. The firm's quarterly revenue was up 22.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.41 earnings per share.

Institutional Trading of Construction Partners

Institutional investors have recently made changes to their positions in the stock. Covestor Ltd lifted its holdings in shares of Construction Partners by 17,700.0% during the 1st quarter. Covestor Ltd now owns 534 shares of the company's stock valued at $30,000 after acquiring an additional 531 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Construction Partners by 24.4% during the 3rd quarter. GAMMA Investing LLC now owns 873 shares of the company's stock valued at $61,000 after acquiring an additional 171 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in Construction Partners by 244.4% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,178 shares of the company's stock worth $66,000 after buying an additional 836 shares in the last quarter. nVerses Capital LLC acquired a new position in Construction Partners in the 2nd quarter worth $116,000. Finally, SG Americas Securities LLC acquired a new position in Construction Partners in the 1st quarter worth $139,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Construction Partners

In related news, Director Mark R. Matteson sold 25,408 shares of Construction Partners stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $61.97, for a total transaction of $1,574,533.76. Following the completion of the transaction, the director now directly owns 102,592 shares in the company, valued at $6,357,626.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 18.80% of the stock is owned by insiders.

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.