Construction Partners (ROAD) Stock Moves -0.9%: What You Should Know
The most recent trading session ended with Construction Partners (ROAD) standing at $38.59, reflecting a -0.9% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a loss of 1.43% for the day. Meanwhile, the Dow experienced a drop of 0.32%, and the technology-dominated Nasdaq saw a decrease of 2.43%.
The the stock of road and highway construction company has risen by 8.62% in the past month, leading the Construction sector's loss of 5.68% and the S&P 500's loss of 1.55%.
Investors will be eagerly watching for the performance of Construction Partners in its upcoming earnings disclosure. On that day, Construction Partners is projected to report earnings of $0.52 per share, which would represent year-over-year growth of 108%. Our most recent consensus estimate is calling for quarterly revenue of $464.3 million, up 18.13% from the year-ago period.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Construction Partners. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 9.91% increase. Construction Partners currently has a Zacks Rank of #1 (Strong Buy).
In the context of valuation, Construction Partners is at present trading with a Forward P/E ratio of 30.54. This indicates a premium in contrast to its industry's Forward P/E of 14.8.
The Building Products - Miscellaneous industry is part of the Construction sector. With its current Zacks Industry Rank of 35, this industry ranks in the top 14% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Construction Partners, Inc. (ROAD) : Free Stock Analysis Report
