What is DA Davidson's Estimate for ROAD FY2024 Earnings?

Construction Partners, Inc. (NASDAQ:ROAD - Free Report) - DA Davidson decreased their FY2024 earnings per share (EPS) estimates for Construction Partners in a report released on Tuesday, October 22nd. DA Davidson analyst B. Thielman now forecasts that the company will earn $1.33 per share for the year, down from their previous forecast of $1.44. DA Davidson currently has a "Neutral" rating and a $55.00 target price on the stock. The consensus estimate for Construction Partners' current full-year earnings is $1.43 per share. DA Davidson also issued estimates for Construction Partners' FY2025 earnings at $1.77 EPS.

Several other research analysts have also recently issued reports on ROAD. 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 report on Monday, August 12th. Robert W. Baird raised 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. Finally, Stifel Nicolaus raised their price target on Construction Partners from $61.00 to $67.00 and gave the company a "buy" rating in a research report on Monday, August 12th. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Construction Partners presently has a consensus rating of "Moderate Buy" and a consensus target price of $69.00.

Construction Partners Price Performance

NASDAQ:ROAD traded down $2.71 during trading hours on Thursday, hitting $79.06. The company's stock had a trading volume of 400,253 shares, compared to its average volume of 359,762. The business's 50-day moving average is $67.99 and its two-hundred day moving average is $60.41. The company has a market capitalization of $4.17 billion, a PE ratio of 58.82, a PEG ratio of 1.50 and a beta of 0.67. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.30 and a current ratio of 1.60. Construction Partners has a 52-week low of $36.70 and a 52-week high of $86.00.

Construction Partners (NASDAQ:ROAD - Get Free Report) last released its quarterly earnings data on Friday, August 9th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.05. The firm 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%. Construction Partners's revenue was up 22.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.41 earnings per share.

Institutional Trading of Construction Partners

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

Insider Activity at Construction Partners

In other Construction Partners news, Director Mark R. Matteson sold 25,408 shares of the firm's stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $61.97, for a total value of $1,574,533.76. Following the sale, the director now directly owns 102,592 shares of the company's stock, valued at approximately $6,357,626.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 18.80% of the company's stock.

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.