Construction Partners (NASDAQ:ROAD) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Construction Partners (NASDAQ:ROAD) posted its earnings results on Thursday. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.01), Briefing.com reports. Construction Partners had a return on equity of 13.34% and a net margin of 4.01%. The company had revenue of $538.16 million for the quarter, compared to the consensus estimate of $538.04 million. During the same quarter last year, the business earned $0.59 EPS. Construction Partners’s quarterly revenue was up 13.3% compared to the same quarter last year.

Construction Partners Stock Performance

ROAD stock opened at $91.31 on Thursday. The business’s 50-day moving average price is $77.71 and its two-hundred day moving average price is $65.04. The company has a current ratio of 1.60, a quick ratio of 1.30 and a debt-to-equity ratio of 0.82. The firm has a market cap of $4.82 billion, a PE ratio of 67.64, a P/E/G ratio of 1.16 and a beta of 0.65. Construction Partners has a 1-year low of $39.79 and a 1-year high of $97.25.

Wall Street Analysts Forecast Growth

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

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.