Construction Partners (ROAD) Earns Outperform Rating from Imperial Capital

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Imperial Capital reissued their outperform rating on shares of Construction Partners (NASDAQ:ROAD) in a research note released on Tuesday morning, Briefing.com Automated Import reports. The brokerage currently has a $15.50 target price on the stock, up from their prior target price of $14.00. Imperial Capital also issued estimates for Construction Partners’ Q3 2019 earnings at $0.30 EPS, Q4 2019 earnings at $0.37 EPS, FY2019 earnings at $0.85 EPS and FY2020 earnings at $1.00 EPS.

Several other research firms have also recently weighed in on ROAD. Zacks Investment Research cut shares of Construction Partners from a hold rating to a sell rating in a report on Wednesday, January 16th. ValuEngine cut shares of Construction Partners from a hold rating to a sell rating in a report on Wednesday, May 8th. Finally, Raymond James set a $14.00 price target on shares of Construction Partners and gave the company a buy rating in a report on Thursday, February 14th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $14.92.

Construction Partners stock traded up $0.04 during trading hours on Tuesday, hitting $13.70. The company had a trading volume of 4,353 shares, compared to its average volume of 97,141. The stock has a market cap of $662.10 million and a P/E ratio of 16.13. The company has a quick ratio of 2.03, a current ratio of 2.04 and a debt-to-equity ratio of 0.13. Construction Partners has a one year low of $7.70 and a one year high of $14.06.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.03. The firm had revenue of $164.30 million for the quarter, compared to analysts’ expectations of $145.80 million. Construction Partners had a net margin of 5.20% and a return on equity of 12.67%. The business’s revenue was up 38.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.27 EPS. Equities analysts anticipate that Construction Partners will post 0.82 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the business. Anchor Capital Advisors LLC acquired a new position in shares of Construction Partners during the 4th quarter worth approximately $791,000. Raymond James Financial Services Advisors Inc. grew its position in shares of Construction Partners by 65.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 30,803 shares of the company’s stock worth $272,000 after purchasing an additional 12,182 shares in the last quarter. Royce & Associates LP grew its position in shares of Construction Partners by 145.8% during the 4th quarter. Royce & Associates LP now owns 421,600 shares of the company’s stock worth $3,723,000 after purchasing an additional 250,100 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Construction Partners by 21.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 964,803 shares of the company’s stock worth $8,519,000 after purchasing an additional 171,195 shares in the last quarter. Finally, Natixis Advisors L.P. grew its position in shares of Construction Partners by 9.1% during the 4th quarter. Natixis Advisors L.P. now owns 130,065 shares of the company’s stock worth $1,148,000 after purchasing an additional 10,805 shares in the last quarter. Hedge funds and other institutional investors own 20.57% of the company’s stock.

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.

Further Reading: Short Selling Stocks, A Beginner’s Guide

Analyst Recommendations for Construction Partners (NASDAQ:ROAD)

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