Arcosa (NYSE:ACA) Issues Earnings Results

Arcosa (NYSE:ACA) issued its quarterly earnings data on Thursday. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.46 by $0.05, FiscalAI reports. The business had revenue of $571.70 million for the quarter, compared to the consensus estimate of $639.50 million. Arcosa had a return on equity of 8.64% and a net margin of 7.23%.

Arcosa Stock Up 8.7%

Shares of NYSE:ACA traded up $10.18 during mid-day trading on Thursday, reaching $126.63. 515,648 shares of the stock were exchanged, compared to its average volume of 288,924. The stock’s 50 day simple moving average is $111.60 and its 200-day simple moving average is $109.13. Arcosa has a one year low of $80.68 and a one year high of $131.00. The company has a market cap of $6.22 billion, a P/E ratio of 29.87, a P/E/G ratio of 1.84 and a beta of 0.96. The company has a quick ratio of 1.35, a current ratio of 2.20 and a debt-to-equity ratio of 0.57.

Arcosa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Wednesday, April 15th will be issued a dividend of $0.05 per share. The ex-dividend date is Wednesday, April 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.2%. Arcosa’s dividend payout ratio (DPR) is presently 4.72%.

Hedge Funds Weigh In On Arcosa

Several hedge funds have recently made changes to their positions in the business. GWN Securities Inc. acquired a new position in Arcosa during the fourth quarter worth $312,000. First Manhattan CO. LLC. acquired a new position in Arcosa during the fourth quarter worth $259,000. Wexford Capital LP acquired a new position in Arcosa during the third quarter worth $242,000. Blair William & Co. IL acquired a new position in Arcosa during the fourth quarter worth $241,000. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Arcosa by 15.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,087 shares of the company’s stock valued at $226,000 after acquiring an additional 273 shares in the last quarter. 90.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ACA has been the topic of several research analyst reports. Texas Capital raised Arcosa to a “strong-buy” rating in a research note on Friday, March 27th. Wall Street Zen downgraded Arcosa from a “buy” rating to a “hold” rating in a research note on Sunday, March 1st. Zacks Research downgraded Arcosa from a “hold” rating to a “strong sell” rating in a research note on Tuesday. DA Davidson raised their price objective on Arcosa from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Finally, Weiss Ratings upgraded shares of Arcosa from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Arcosa currently has an average rating of “Moderate Buy” and an average target price of $120.00.

About Arcosa

Arcosa, Inc (NYSE: ACA) is a Dallas‐based industrial company that was formed through the spin‐off of Trinity Industries’ construction products business in 2018. Since its inception, Arcosa has focused on the manufacture and sale of critical infrastructure components, serving a diverse set of end markets including transportation, construction and energy.

The company’s Construction Products segment produces a broad range of highway safety products, such as guardrail systems, sign supports and crash cushions, as well as aggregates and ready‐mix concrete.