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

Construction Partners (NASDAQ:ROAD) issued its quarterly earnings data on Thursday. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01), Briefing.com reports. The firm had revenue of $538.16 million during the quarter, compared to analysts’ expectations of $538.04 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 13.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 EPS.

Construction Partners Stock Performance

NASDAQ:ROAD opened at $96.85 on Friday. 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 company has a fifty day moving average of $78.38 and a two-hundred day moving average of $65.26. The stock has a market capitalization 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 fifty-two week low of $39.79 and a fifty-two week high of $100.47.

Wall Street Analyst Weigh In

Several research firms have weighed in on ROAD. DA Davidson boosted their target price on shares of Construction Partners from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Stifel Nicolaus boosted their target price on shares of Construction Partners from $61.00 to $67.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Raymond James boosted their target price on shares of 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 boosted their target price on shares of Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Construction Partners 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.