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

Construction Partners (NASDAQ:ROAD) released its earnings results on Thursday. The company reported $0.56 earnings per share (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 in the previous year, the company posted $0.59 EPS. The business’s revenue was up 13.3% on a year-over-year basis.

Construction Partners Price Performance

Construction Partners stock opened at $91.31 on Thursday. The stock’s 50 day moving average is $77.71 and its 200-day moving average is $65.04. The company has a market capitalization of $4.82 billion, a price-to-earnings ratio of 67.64, a PEG ratio of 1.16 and a beta of 0.65. The company has a current ratio of 1.60, a quick ratio of 1.30 and a debt-to-equity ratio of 0.82. Construction Partners has a 12 month low of $39.79 and a 12 month high of $97.25.

Analyst Upgrades and Downgrades

ROAD has been the topic of several analyst reports. Raymond James upped their target price on Construction Partners from $69.00 to $72.00 and gave the stock a “strong-buy” rating in a report on Monday, August 12th. Stifel Nicolaus boosted their price target on Construction Partners from $61.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. DA Davidson boosted their price target on Construction Partners from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Finally, Robert W. Baird boosted their price target on Construction Partners from $68.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Three research 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.