Analysts expect that Construction Partners Inc (NASDAQ:ROAD) will announce $245.07 million in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Construction Partners' earnings. The highest sales estimate is $252.00 million and the lowest is $235.45 million. Construction Partners reported sales of $237.32 million in the same quarter last year, which indicates a positive year-over-year growth rate of 3.3%. The firm is scheduled to announce its next earnings results on Monday, December 14th.
On average, analysts expect that Construction Partners will report full year sales of $805.78 million for the current financial year, with estimates ranging from $796.49 million to $813.00 million. For the next fiscal year, analysts forecast that the company will report sales of $855.02 million, with estimates ranging from $850.46 million to $866.00 million. Zacks' sales calculations are an average based on a survey of analysts that follow Construction Partners.
Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings results on Friday, August 7th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.05. Construction Partners had a return on equity of 11.14% and a net margin of 4.92%. The company had revenue of $217.00 million during the quarter, compared to the consensus estimate of $233.95 million. During the same period in the prior year, the company earned $0.33 earnings per share. The company's revenue for the quarter was down 4.4% compared to the same quarter last year.
Several equities research analysts have issued reports on the company. TheStreet upgraded Construction Partners from a "c+" rating to a "b" rating in a report on Tuesday, September 8th. Bank of America increased their price target on Construction Partners from $17.00 to $20.00 and gave the stock a "buy" rating in a report on Friday, September 25th. Stifel Nicolaus began coverage on Construction Partners in a research report on Thursday, September 17th. They set a "buy" rating and a $21.00 price objective for the company. Stephens cut Construction Partners from an "overweight" rating to an "equal weight" rating and set a $20.00 price objective for the company. in a research report on Tuesday, August 25th. They noted that the move was a valuation call. Finally, Raymond James upped their price objective on Construction Partners from $18.00 to $21.50 and gave the stock an "outperform" rating in a research report on Monday, August 10th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of "Buy" and an average price target of $20.06.
In other Construction Partners news, CEO Charles E. Owens sold 56,955 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $20.06, for a total value of $1,142,517.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP John L. Harper sold 15,000 shares of the company's stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $17.30, for a total value of $259,500.00. Following the completion of the sale, the senior vice president now owns 212,682 shares in the company, valued at approximately $3,679,398.60. The disclosure for this sale can be found here. Insiders have sold 417,399 shares of company stock valued at $8,203,463 over the last three months. Insiders own 63.94% of the company's stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Conestoga Capital Advisors LLC increased its stake in shares of Construction Partners by 27.8% during the second quarter. Conestoga Capital Advisors LLC now owns 4,635,722 shares of the company's stock worth $82,330,000 after purchasing an additional 1,008,100 shares during the period. Wasatch Advisors Inc. increased its stake in shares of Construction Partners by 73.6% during the second quarter. Wasatch Advisors Inc. now owns 2,450,434 shares of the company's stock worth $43,520,000 after purchasing an additional 1,038,931 shares during the period. Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of Construction Partners during the second quarter worth approximately $41,133,000. Vanguard Group Inc. increased its stake in shares of Construction Partners by 17.5% during the second quarter. Vanguard Group Inc. now owns 1,362,887 shares of the company's stock worth $24,205,000 after purchasing an additional 202,926 shares during the period. Finally, FMR LLC increased its stake in shares of Construction Partners by 6.6% during the second quarter. FMR LLC now owns 1,233,609 shares of the company's stock worth $21,909,000 after purchasing an additional 76,660 shares during the period. Institutional investors own 64.75% of the company's stock.
Shares of Construction Partners stock opened at $20.63 on Tuesday. Construction Partners has a 1 year low of $11.96 and a 1 year high of $22.15. The business has a 50-day moving average of $18.71 and a two-hundred day moving average of $17.67. The company has a market capitalization of $1.07 billion, a P/E ratio of 27.15, a price-to-earnings-growth ratio of 4.22 and a beta of 0.93. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.19 and a quick ratio of 1.88.
About Construction Partners
Construction Partners, Inc, an infrastructure and road construction company, provides construction products and services to public and private sectors. It offers construction of highways, roads, bridges, airports, and commercial and residential sites. The company provides a range of sitework construction services, including site development, paving, and utility and drainage systems construction, as well as supplies hot mix asphalt required for the projects.
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