Equities analysts expect Construction Partners Inc (NASDAQ:ROAD) to announce earnings per share (EPS) of $0.35 for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Construction Partners’ earnings, with estimates ranging from $0.32 to $0.37. Construction Partners posted earnings per share of $0.29 in the same quarter last year, which indicates a positive year over year growth rate of 20.7%. The firm is expected to issue its next earnings results after the market closes on Monday, December 9th.
According to Zacks, analysts expect that Construction Partners will report full year earnings of $0.85 per share for the current financial year, with EPS estimates ranging from $0.83 to $0.88. For the next fiscal year, analysts forecast that the company will post earnings of $0.99 per share, with EPS estimates ranging from $0.95 to $1.04. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Construction Partners.
ROAD has been the subject of a number of analyst reports. Raymond James increased their price target on Construction Partners from $15.00 to $16.50 and gave the stock a “strong-buy” rating in a research note on Monday, August 12th. ValuEngine lowered Construction Partners from a “hold” rating to a “sell” rating in a research note on Tuesday. Imperial Capital reiterated an “outperform” rating and issued a $17.25 price target (up previously from $15.50) on shares of Construction Partners in a research note on Thursday, August 15th. Finally, Zacks Investment Research lowered Construction Partners from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 5th.
In other news, Director Cpi Expansion Fund Gp L. Suntx sold 5,000,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $13.47, for a total transaction of $67,350,000.00. Also, Director Cpi Expansion Fund Gp L. Suntx sold 750,000 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $17.24, for a total value of $12,930,000.00. Corporate insiders own 74.79% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Comerica Bank purchased a new position in shares of Construction Partners during the third quarter valued at about $1,179,000. Wells Fargo & Company MN grew its position in shares of Construction Partners by 545.8% during the second quarter. Wells Fargo & Company MN now owns 91,765 shares of the company’s stock valued at $1,378,000 after purchasing an additional 77,555 shares in the last quarter. Invesco Ltd. grew its position in shares of Construction Partners by 5.9% during the second quarter. Invesco Ltd. now owns 75,854 shares of the company’s stock valued at $1,139,000 after purchasing an additional 4,213 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Construction Partners by 1.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,310,147 shares of the company’s stock valued at $20,412,000 after purchasing an additional 14,553 shares in the last quarter. Finally, Stephens Inc. AR grew its position in shares of Construction Partners by 5.9% during the third quarter. Stephens Inc. AR now owns 116,520 shares of the company’s stock valued at $1,815,000 after purchasing an additional 6,522 shares in the last quarter. Hedge funds and other institutional investors own 35.22% of the company’s stock.
Construction Partners Company Profile
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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