Research Analysts Offer Predictions for Construction Partners, Inc.’s Q1 2023 Earnings (NASDAQ:ROAD)

Construction Partners, Inc. (NASDAQ:ROADGet Rating) – Research analysts at DA Davidson issued their Q1 2023 EPS estimates for shares of Construction Partners in a report released on Wednesday, November 23rd. DA Davidson analyst B. Thielman forecasts that the company will post earnings per share of $0.05 for the quarter. The consensus estimate for Construction Partners’ current full-year earnings is $0.75 per share. DA Davidson also issued estimates for Construction Partners’ FY2024 earnings at $1.03 EPS.

ROAD has been the topic of several other research reports. Robert W. Baird raised their target price on shares of Construction Partners from $26.00 to $32.00 in a research note on Monday, August 8th. Raymond James raised their target price on shares of Construction Partners from $35.00 to $37.00 and gave the company a “strong-buy” rating in a research note on Monday. Three analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $32.75.

Construction Partners Stock Up 1.0 %

Shares of NASDAQ ROAD opened at $27.57 on Thursday. The firm has a market capitalization of $1.45 billion, a PE ratio of 67.24, a price-to-earnings-growth ratio of 0.98 and a beta of 0.95. The company has a current ratio of 1.91, a quick ratio of 1.53 and a debt-to-equity ratio of 0.79. Construction Partners has a 1 year low of $18.89 and a 1 year high of $37.63. The firm’s 50-day moving average is $28.99 and its 200-day moving average is $25.86.

Insider Activity at Construction Partners

In related news, Director Noreen E. Skelly sold 3,100 shares of the stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $28.30, for a total value of $87,730.00. Following the sale, the director now directly owns 22,091 shares in the company, valued at approximately $625,175.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Construction Partners news, Director Suntx Capital Management Corp. sold 50,922 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $27.94, for a total transaction of $1,422,760.68. Following the sale, the director now directly owns 29,731 shares in the company, valued at approximately $830,684.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Noreen E. Skelly sold 3,100 shares of the firm’s stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $28.30, for a total transaction of $87,730.00. Following the sale, the director now owns 22,091 shares in the company, valued at $625,175.30. The disclosure for this sale can be found here. 24.35% of the stock is currently owned by corporate insiders.

Institutional Trading of Construction Partners

Hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio grew its stake in shares of Construction Partners by 40.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,102 shares of the company’s stock worth $29,000 after acquiring an additional 317 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Construction Partners during the 1st quarter worth approximately $36,000. Great West Life Assurance Co. Can bought a new position in shares of Construction Partners during the 3rd quarter worth approximately $46,000. Point72 Hong Kong Ltd bought a new position in shares of Construction Partners during the 3rd quarter worth approximately $46,000. Finally, Captrust Financial Advisors grew its stake in shares of Construction Partners by 37.1% during the 2nd quarter. Captrust Financial Advisors now owns 2,223 shares of the company’s stock worth $47,000 after acquiring an additional 602 shares in the last quarter. 77.97% of the stock is currently owned by institutional investors and hedge funds.

About Construction Partners

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Construction Partners, Inc, a civil infrastructure company, engages in the construction and maintenance of roadways across 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 a focus on highways, roads, bridges, airports, and commercial and residential developments.

Further Reading

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