Construction Partners (NASDAQ:ROAD – Get Rating) released its results on Friday. The company reported ($0.18) EPS for the quarter, missing analyst consensus estimates of ($0.06) by ($0.12), MarketWatch Earnings reports. The company posted revenue of $243.40 million for the quarter, compared to $218.14 million expected by analysts. Construction Partners posted a net margin of 1.77% and a return on equity of 5.16%. The company’s revenue for the quarter increased 35.7% year over year. During the same period last year, the company posted EPS of ($0.04).
Shares of Construction Partners were down $2.07 on Friday, hitting $24.13. The stock had a trading volume of 542,517 shares, compared to an average volume of 346,676. The company has a 50-day moving average price of $26.31 and a 200-day moving average price of $29.68 . The company has a quick ratio of 1.69, a current ratio of 2.09 and a debt ratio of 0.66. Construction Partners has a 1-year low of $22.31 and a 1-year high of $44.99. The stock has a market capitalization of $1.27 billion, a P/E ratio of 69.41 and a beta of 0.93.
A number of research analysts have commented on ROAD stocks. Raymond James cut his price target on Construction Partners shares from $35.00 to $30.00 and set an “outperform” rating on the stock in a Tuesday, January 18 research report. TheStreet downgraded the shares of Construction Partners from a “b-” rating to a “c+” rating in a research report on Wednesday, January 19. Bank of America downgraded Construction Partners shares from a “neutral” rating to a “buy” rating and cut its target price for the company from $40.00 to $34.00 in a Friday research report January 7. Zacks Investment Research downgraded Construction Partners shares from a “hold” rating to a “sell” rating in a Wednesday, April 13 research report. Finally, Robert W. Baird cut his price target on Construction Partners stock from $38.00 to $31.00 in a Tuesday, January 25 research report. One equity research analyst gave the stock a sell rating and three gave the stock a buy rating. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $34.80.
A number of large investors have recently increased or reduced their stakes in the company. Deutsche Bank AG increased its position in Construction Partners by 5.6% in the fourth quarter. Deutsche Bank AG now owns 18,956 shares of the company worth $558,000 after buying 998 additional shares in the last quarter. Stifel Financial Corp increased its position in Construction Partners by 1.6% during the fourth quarter. Stifel Financial Corp now owns 93,395 shares of the company worth $2,747,000 after buying an additional 1,492 shares in the last quarter. California State Teachers Retirement System increased its position in Construction Partners by 3.7% during the fourth quarter. California State Teachers Retirement System now owns 42,029 shares of the company worth $1,236,000 after buying 1,518 additional shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Construction Partners by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 241,153 shares of the company worth $7,093,000 after buying 2,713 additional shares in the last quarter. Finally, Alliancebernstein LP increased its position in Construction Partners by 14.6% during the 4th quarter. Alliancebernstein LP now owns 27,500 shares of the company worth $809,000 after purchasing an additional 3,500 shares in the last quarter. 69.45% of the shares are currently held by institutional investors.
Construction Partners Company Profile (Get a rating)
Construction Partners, Inc, a civil infrastructure company, engages in the construction and maintenance of roads throughout Alabama, Florida, Georgia, North Carolina and South Carolina. The Company, through its subsidiaries, provides various products and services to public and private infrastructure projects, with emphasis on highways, roads, bridges, airports, and commercial and residential developments.
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