Wall Street analysts expect Construction Partners Inc (NASDAQ:ROAD) to report sales of $249.37 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Construction Partners’ earnings, with the highest sales estimate coming in at $255.06 million and the lowest estimate coming in at $244.00 million. Construction Partners posted sales of $215.70 million in the same quarter last year, which would indicate a positive year over year growth rate of 15.6%. The firm is expected to announce its next quarterly earnings report on Monday, December 9th.

According to Zacks, analysts expect that Construction Partners will report full-year sales of $796.54 million for the current fiscal year, with estimates ranging from $790.00 million to $800.98 million. For the next year, analysts expect that the business will post sales of $854.81 million, with estimates ranging from $846.00 million to $862.42 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Construction Partners.

Construction Partners (NASDAQ:ROAD) last issued its earnings results on Thursday, August 8th. The company reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.04. Construction Partners had a net margin of 5.48% and a return on equity of 13.47%. The firm had revenue of $227.30 million during the quarter, compared to analyst estimates of $229.67 million. During the same quarter in the prior year, the business earned $0.29 earnings per share. Construction Partners’s revenue for the quarter was up 16.5% on a year-over-year basis.

A number of brokerages recently weighed in on ROAD. Zacks Investment Research upgraded shares of Construction Partners from a “hold” rating to a “strong-buy” rating and set a $17.00 target price for the company in a research report on Wednesday, August 14th. Raymond James increased their price objective on shares of Construction Partners from $15.00 to $16.50 and gave the company a “strong-buy” rating in a research report on Monday, August 12th. ValuEngine lowered shares of Construction Partners from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Finally, Imperial Capital reiterated an “outperform” rating and set a $17.25 price objective (up previously from $15.50) on shares of Construction Partners in a research report on Thursday. One investment analyst has rated the stock with a sell rating, two have given a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $16.44.

A number of hedge funds have recently added to or reduced their stakes in ROAD. Strs Ohio bought a new position in Construction Partners during the second quarter valued at $48,000. Bank of Montreal Can bought a new position in Construction Partners during the second quarter valued at $50,000. Acadian Asset Management LLC bought a new position in Construction Partners during the second quarter valued at $56,000. JPMorgan Chase & Co. bought a new position in Construction Partners during the second quarter valued at $66,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Construction Partners in the second quarter valued at $170,000. Institutional investors and hedge funds own 23.67% of the company’s stock.

Shares of NASDAQ:ROAD traded up $0.22 during midday trading on Monday, reaching $14.97. 81,719 shares of the company were exchanged, compared to its average volume of 105,088. The company has a current ratio of 1.97, a quick ratio of 1.75 and a debt-to-equity ratio of 0.11. The business’s fifty day moving average is $14.58 and its two-hundred day moving average is $13.13. Construction Partners has a one year low of $7.70 and a one year high of $15.84. The stock has a market cap of $744.21 million, a PE ratio of 17.41, a price-to-earnings-growth ratio of 1.71 and a beta of 1.96.

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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Earnings History and Estimates for Construction Partners (NASDAQ:ROAD)

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