Construction Partners (NASDAQ:ROAD) Stock Price Down 5.5% After Earnings Miss

Construction Partners, Inc. (NASDAQ:ROAD) shares were down 5.5% on Wednesday following a weaker than expected earnings announcement. The stock traded as low as $36.97 and last traded at $36.97. Approximately 362 shares changed hands during trading, a decline of 100% from the average daily volume of 275,003 shares. The stock had previously closed at $39.12.

The company reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.25). Construction Partners had a net margin of 3.48% and a return on equity of 8.39%. The business had revenue of $279.00 million for the quarter, compared to the consensus estimate of $313.84 million. During the same period in the prior year, the business posted $0.34 EPS. Construction Partners’s revenue for the quarter was up 24.2% on a year-over-year basis.

Several equities analysts recently commented on ROAD shares. Stifel Nicolaus increased their target price on shares of Construction Partners from $35.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday. Bank of America cut shares of Construction Partners from a “buy” rating to a “neutral” rating and increased their price target for the company from $37.00 to $43.00 in a research report on Friday, November 19th. Finally, Zacks Investment Research cut shares of Construction Partners from a “buy” rating to a “hold” rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $36.40.

Institutional investors and hedge funds have recently made changes to their positions in the business. Koshinski Asset Management Inc. purchased a new stake in Construction Partners during the 3rd quarter valued at $25,000. Great West Life Assurance Co. Can lifted its position in shares of Construction Partners by 77.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 1,755 shares of the company’s stock worth $52,000 after purchasing an additional 765 shares during the period. Captrust Financial Advisors lifted its position in shares of Construction Partners by 66.0% in the 1st quarter. Captrust Financial Advisors now owns 1,785 shares of the company’s stock worth $53,000 after purchasing an additional 710 shares during the period. PNC Financial Services Group Inc. purchased a new stake in shares of Construction Partners in the 3rd quarter worth about $54,000. Finally, PNC Managed Account Solutions Inc. purchased a new stake in shares of Construction Partners in the 2nd quarter worth about $64,000. 66.93% of the stock is owned by institutional investors and hedge funds.

The company’s 50-day moving average price is $36.15 and its 200 day moving average price is $33.67. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.13 and a current ratio of 2.46. The stock has a market capitalization of $1.92 billion, a PE ratio of 64.47, a PEG ratio of 3.05 and a beta of 1.02.

Construction Partners Company Profile (NASDAQ:ROAD)

Construction Partners, Inc engages in construction of roadways and highways. It acquires road construction companies with services in asphalt production, paving and other construction services for both the public and private sectors. The company was founded by Ned N. Fleming, R. Alan Palmer & Charles E.

Featured Article: Hedge Funds

Receive News & Ratings for Construction Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Construction Partners and related companies with MarketBeat.com's FREE daily email newsletter.