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Construction Partners (ROAD) Stock Dips While Market Gains: Key Facts
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Construction Partners (ROAD - Free Report) closed the most recent trading day at $42.40, moving -0.7% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.74%. Meanwhile, the Dow experienced a rise of 0.58%, and the technology-dominated Nasdaq saw an increase of 1.13%.
The upcoming earnings release of Construction Partners will be of great interest to investors. The company's earnings report is expected on November 29, 2023. The company's upcoming EPS is projected at $0.52, signifying a 108% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 past month, there's been no change in the Zacks Consensus EPS estimate. Construction Partners presently features a Zacks Rank of #1 (Strong Buy).
Investors should also note Construction Partners's current valuation metrics, including its Forward P/E ratio of 33.49. This expresses a premium compared to the average Forward P/E of 16.52 of its industry.
The Building Products - Miscellaneous industry is part of the Construction sector. Currently, this industry holds a Zacks Industry Rank of 39, positioning it in the top 16% 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.
To follow ROAD in the coming trading sessions, be sure to utilize Zacks.com.
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Construction Partners (ROAD) Stock Dips While Market Gains: Key Facts
Construction Partners (ROAD - Free Report) closed the most recent trading day at $42.40, moving -0.7% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.74%. Meanwhile, the Dow experienced a rise of 0.58%, and the technology-dominated Nasdaq saw an increase of 1.13%.
The upcoming earnings release of Construction Partners will be of great interest to investors. The company's earnings report is expected on November 29, 2023. The company's upcoming EPS is projected at $0.52, signifying a 108% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 past month, there's been no change in the Zacks Consensus EPS estimate. Construction Partners presently features a Zacks Rank of #1 (Strong Buy).
Investors should also note Construction Partners's current valuation metrics, including its Forward P/E ratio of 33.49. This expresses a premium compared to the average Forward P/E of 16.52 of its industry.
The Building Products - Miscellaneous industry is part of the Construction sector. Currently, this industry holds a Zacks Industry Rank of 39, positioning it in the top 16% 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.
To follow ROAD in the coming trading sessions, be sure to utilize Zacks.com.