The latest trading session saw Construction Partners (WAY) closing at $42, indicating a +0.33% correction from its last day. The stock’s performance was ahead of the S&P 500’s daily gain of 0.08%. Meanwhile, the Dow experienced a fall of 0.26%, and the technology-dominated Nasdaq saw an increase of 0.36%.
Shares of the highway and highway construction company fell 4.8% over the last month, not consistently with the Construction sector’s loss of 2.24% and the S&P 500’s gain of 2.4%.
Market participants will closely follow the financial results of Construction Partners in its next release. The company plans to announce its earnings on February 9, 2024. On that date, Construction Partners is projected to report earnings of $0.13 per share, which would represent year-over-year growth of 225%. At the same time, our latest consensus estimate expects the revenue to be $384.03 million, showing a 12.36% escalation compared to the previous year.
For the full fiscal year, the Zacks Consensus Estimates forecast earnings of $1.27 per share and revenue of $1.79 billion, representing changes of +35.11% and +14.2%, respectively, from the prior year .
Any recent changes to analyst ratings for Construction Partners should also be noted by investors. These latter adjustments often reflect the changing dynamics of short-term trading patterns. With this in mind, we can consider positive rating revisions a sign of optimism about the company’s business outlook.
Our research suggests that these changes in valuations have a direct relationship with upcoming stock price performance. To take advantage of this, we created the Zacks Rank, a unique model that incorporates these rating changes and offers a practical rating system.
The Zacks Rank system, ranging from No. 1 (Strong Buy) to No. 5 (Strong Sell), has a remarkable record of outperformance, validated by third-party audits, with stocks rated No. 1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has remained stagnant. Right now, Construction Partners owns a Zacks Rank of #3 (Hold).
Looking at its valuation, Construction Partners holds a Forward P/E ratio of 33.03. For comparison, its industry has an average Forward P/E of 17.34, which means Construction Partners trades at a premium to the group.
The Building Products – Various industries are part of the Construction sector. This industry, which currently has a Zacks Industry Rank of 62, ranks in the top 25% of all 250+ industries.
The Zacks Industry Rank measures 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.
Make sure to use Zacks.com to stay up-to-date with all of these stock-changing metrics, among others, in the upcoming trading sessions.
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Construction Partners, Inc. (ROAD): Free Analysis Report
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