We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Construction Partners (ROAD) Acquires Hudson Paving in NC
Read MoreHide Full Article
Construction Partners, Inc. (ROAD - Free Report) or CPI acquired Rockingham, NC-based Hudson Paving, Inc., which will add a hot-mix asphalt plant and related crews and equipment serving in the Sandhills region.
In the year-to-date period, this vertically integrated civil infrastructure company’s shares have outperformed in the Zacks Building Products - Miscellaneous industry. Its stock gained 31.8% so far this year compared with the industry’s growth of 10.3%.
Nonetheless, earnings estimate for fiscal 2024 moved north to $1.41 per share from $1.34 in the past 30 days, reflecting analysts’ optimism for its growth potential. The estimated figure reflects 50% year-over-year growth.
Image Source: Zacks Investment Research
CPI has been bolstering inorganic growth and market expansion over the past several years. On May 1, the company acquired Auburn, GA-based Sunbelt Asphalt Surfaces, Inc.’s asphalt manufacturing and construction operations, as well as one active hot-mix asphalt plant and related crews and equipment. The transaction also included a greenfield hot-mix asphalt plant in Commerce, GA.
In January, the company completed the acquisitions of SJ&L General Contractor, LLC, based in Huntsville, AL, and Littlefield Construction Company, located in Waycross, GA. These strategic acquisitions aim to enhance ROAD's presence in existing growth markets by expanding services and adding crews and equipment to its portfolio.
ROAD follows a profitable buyout strategy, which enhances and expands its product offerings and geographical reach. Moreover, increased government infrastructure spending is bolstering the company’s prospects. The U.S. administration’s endeavor to rebuild the nation’s deteriorating roads and bridges and fund new climate-resilient and broadband initiatives is expected to boost the company’s prospects.
Zacks Rank & Key Picks
Currently, CPI carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the same space are:
Frontdoor, Inc. (FTDR - Free Report) : Based in Memphis, TN, the company provides home service plans in the United States. The firm is benefiting from impressive customer retention rates. Thanks to the robust awareness of the Frontdoor brand, it has been shifting its attention toward capitalizing on customer demand.
Frontdoor’s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average being 286.8%. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Armstrong World Industries, Inc. (AWI - Free Report) : Pennsylvania-based Armstrong World is a leading global producer of ceiling systems for use primarily in the construction and renovation of commercial, institutional and residential buildings. Currently, it flaunts a Zacks Rank of 1.
AWI has a solid earnings surprise history. Its bottom line surpassed the consensus estimate in the trailing four quarters, with an average of 15.2%.
Owens Corning (OC - Free Report) : This building materials systems and composite solutions provider has evolved as a market-leading innovator of glass fiber technology. Moreover, its focus on new product and process innovation, along with inorganic moves, bode well.
OC’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average being 17.4%. It currently sports a Zacks Rank #1.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Construction Partners (ROAD) Acquires Hudson Paving in NC
Construction Partners, Inc. (ROAD - Free Report) or CPI acquired Rockingham, NC-based Hudson Paving, Inc., which will add a hot-mix asphalt plant and related crews and equipment serving in the Sandhills region.
In the year-to-date period, this vertically integrated civil infrastructure company’s shares have outperformed in the Zacks Building Products - Miscellaneous industry. Its stock gained 31.8% so far this year compared with the industry’s growth of 10.3%.
Nonetheless, earnings estimate for fiscal 2024 moved north to $1.41 per share from $1.34 in the past 30 days, reflecting analysts’ optimism for its growth potential. The estimated figure reflects 50% year-over-year growth.
Image Source: Zacks Investment Research
CPI has been bolstering inorganic growth and market expansion over the past several years. On May 1, the company acquired Auburn, GA-based Sunbelt Asphalt Surfaces, Inc.’s asphalt manufacturing and construction operations, as well as one active hot-mix asphalt plant and related crews and equipment. The transaction also included a greenfield hot-mix asphalt plant in Commerce, GA.
In January, the company completed the acquisitions of SJ&L General Contractor, LLC, based in Huntsville, AL, and Littlefield Construction Company, located in Waycross, GA. These strategic acquisitions aim to enhance ROAD's presence in existing growth markets by expanding services and adding crews and equipment to its portfolio.
ROAD follows a profitable buyout strategy, which enhances and expands its product offerings and geographical reach. Moreover, increased government infrastructure spending is bolstering the company’s prospects. The U.S. administration’s endeavor to rebuild the nation’s deteriorating roads and bridges and fund new climate-resilient and broadband initiatives is expected to boost the company’s prospects.
Zacks Rank & Key Picks
Currently, CPI carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the same space are:
Frontdoor, Inc. (FTDR - Free Report) : Based in Memphis, TN, the company provides home service plans in the United States. The firm is benefiting from impressive customer retention rates. Thanks to the robust awareness of the Frontdoor brand, it has been shifting its attention toward capitalizing on customer demand.
Frontdoor’s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average being 286.8%. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Armstrong World Industries, Inc. (AWI - Free Report) : Pennsylvania-based Armstrong World is a leading global producer of ceiling systems for use primarily in the construction and renovation of commercial, institutional and residential buildings. Currently, it flaunts a Zacks Rank of 1.
AWI has a solid earnings surprise history. Its bottom line surpassed the consensus estimate in the trailing four quarters, with an average of 15.2%.
Owens Corning (OC - Free Report) : This building materials systems and composite solutions provider has evolved as a market-leading innovator of glass fiber technology. Moreover, its focus on new product and process innovation, along with inorganic moves, bode well.
OC’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average being 17.4%. It currently sports a Zacks Rank #1.