Arcosa (NYSE:ACA) Trading 10.4% Higher Following Better-Than-Expected Earnings

Arcosa, Inc. (NYSE:ACA) shares traded up 10.4% during mid-day trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $85.91 and last traded at $85.65. 176,515 shares changed hands during trading, a decline of 21% from the average session volume of 223,278 shares. The stock had previously closed at $77.60.

The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.57 by $0.16. Arcosa had a net margin of 6.90% and a return on equity of 6.90%. The business had revenue of $598.60 million for the quarter, compared to analysts’ expectations of $580.06 million. During the same period in the prior year, the firm earned $1.06 earnings per share. Arcosa’s revenue was up 9.0% compared to the same quarter last year.

Arcosa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, April 15th were issued a $0.05 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $0.20 annualized dividend and a yield of 0.23%. Arcosa’s dividend payout ratio is currently 6.13%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ACA shares. DA Davidson raised their target price on Arcosa from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Oppenheimer increased their target price on Arcosa from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $90.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ACA. Raymond James & Associates grew its position in shares of Arcosa by 0.5% in the third quarter. Raymond James & Associates now owns 31,555 shares of the company’s stock valued at $2,269,000 after purchasing an additional 157 shares during the last quarter. Mariner LLC increased its position in Arcosa by 2.5% during the 3rd quarter. Mariner LLC now owns 7,090 shares of the company’s stock worth $510,000 after buying an additional 176 shares during the period. Arizona State Retirement System boosted its position in shares of Arcosa by 1.4% in the third quarter. Arizona State Retirement System now owns 13,791 shares of the company’s stock valued at $992,000 after acquiring an additional 186 shares during the period. Quadrant Capital Group LLC grew its stake in shares of Arcosa by 22.9% in the fourth quarter. Quadrant Capital Group LLC now owns 1,072 shares of the company’s stock valued at $89,000 after acquiring an additional 200 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its stake in shares of Arcosa by 3.9% in the third quarter. Oppenheimer Asset Management Inc. now owns 6,273 shares of the company’s stock valued at $451,000 after acquiring an additional 234 shares in the last quarter. 90.66% of the stock is currently owned by institutional investors.

Arcosa Trading Up 10.0 %

The company has a debt-to-equity ratio of 0.24, a current ratio of 2.12 and a quick ratio of 1.18. The business’s 50-day moving average is $81.63 and its 200 day moving average is $78.45. The firm has a market capitalization of $4.15 billion, a P/E ratio of 26.18 and a beta of 0.69.

Arcosa Company Profile

Arcosa, Inc, together with its subsidiaries, provides infrastructure-related products and solutions for the construction, engineered structures, and transportation markets in the United States. It operates through three segments: Construction Products, Engineered Structures, and Transportation Products.