Construction Partners (ROAD) Releases Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Construction Partners (NASDAQ:ROAD) announced its quarterly earnings data on Monday. The company reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.04), Bloomberg Earnings reports. The firm had revenue of $154.33 million during the quarter, compared to analyst estimates of $170.23 million.

Shares of Construction Partners stock opened at $11.07 on Wednesday. The firm has a market cap of $589.48 million and a PE ratio of 12.87. The company has a current ratio of 1.99, a quick ratio of 1.81 and a debt-to-equity ratio of 0.16. Construction Partners has a 12-month low of $7.70 and a 12-month high of $14.06.

Several analysts have recently weighed in on ROAD shares. Zacks Investment Research lowered Construction Partners from a “hold” rating to a “sell” rating in a report on Thursday, January 10th. DA Davidson set a $15.00 target price on Construction Partners and gave the stock a “buy” rating in a research report on Friday, November 23rd. ValuEngine lowered Construction Partners from a “hold” rating to a “sell” rating in a research report on Thursday, October 18th. Imperial Capital set a $14.00 target price on Construction Partners and gave the stock a “buy” rating in a research report on Monday, December 10th. Finally, Raymond James cut their target price on Construction Partners from $15.00 to $13.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, December 12th. Two research analysts have rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $14.00.

In other Construction Partners news, insider John L. Harper purchased 9,000 shares of the company’s stock in a transaction that occurred on Friday, December 14th. The shares were purchased at an average cost of $8.41 per share, with a total value of $75,690.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ned N. Fleming III purchased 4,000 shares of the company’s stock in a transaction that occurred on Friday, December 21st. The shares were acquired at an average cost of $8.47 per share, for a total transaction of $33,880.00. The disclosure for this purchase can be found here. Insiders have bought 14,500 shares of company stock worth $122,605 over the last ninety days. 74.79% of the stock is owned by insiders.

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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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