Construction Partners (ROAD) Stock Dips While Market Gains: Key Facts
Construction Partners (ROAD) closed the most recent trading day at $39.71, moving -0.13% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 0.18% for the day. At the same time, the Dow added 0.1%, and the tech-heavy Nasdaq gained 0.3%.
The road and highway construction company's stock has dropped by 1.22% in the past month, falling short of the Construction sector's gain of 5.06% and the S&P 500's gain of 3.08%.
Market participants will be closely following the financial results of Construction Partners in its upcoming release. The company's upcoming EPS is projected at $0.52, signifying a 108% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $464.3 million, reflecting a 18.13% rise from the equivalent quarter last year.
Investors should also take note of any recent adjustments to analyst estimates for Construction Partners. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an 8.97% increase. As of now, Construction Partners holds a Zacks Rank of #1 (Strong Buy).
With respect to valuation, Construction Partners is currently being traded at a Forward P/E ratio of 31.18. Its industry sports an average Forward P/E of 16.25, so one might conclude that Construction Partners is trading at a premium comparatively.
The Building Products - Miscellaneous industry is part of the Construction sector. This group has a Zacks Industry Rank of 58, putting it in the top 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Construction Partners, Inc. (ROAD) : Free Stock Analysis Report
