Arcosa (NYSE:ACA) Shares Up 10.4% on Earnings Beat

Shares of Arcosa, Inc. (NYSE:ACA) rose 10.4% during mid-day trading on Friday following a stronger than expected earnings report. The stock traded as high as $85.91 and last traded at $85.65. Approximately 176,515 shares changed hands during trading, a decline of 21% from the average daily volume of 223,278 shares. The stock had previously closed at $77.60.

The company reported $0.73 earnings per share for the quarter, topping 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 firm had revenue of $598.60 million for the quarter, compared to the consensus estimate of $580.06 million. During the same period last year, the firm posted $1.06 earnings per share. The company’s revenue for the quarter was up 9.0% on a year-over-year basis.

Arcosa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, April 15th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.23%. The ex-dividend date of this dividend was Friday, April 12th. Arcosa’s dividend payout ratio (DPR) is 6.13%.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Criterion Capital Advisors LLC bought a new stake in shares of Arcosa in the fourth quarter worth $33,000. ICA Group Wealth Management LLC acquired a new stake in shares of Arcosa during the 4th quarter worth approximately $33,000. McGlone Suttner Wealth Management Inc. acquired a new stake in Arcosa during the 4th quarter worth $36,000. Scarborough Advisors LLC acquired a new stake in shares of Arcosa during the 4th quarter worth about $42,000. Finally, Harvest Fund Management Co. Ltd increased its holdings in Arcosa by 533.6% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 925 shares of the company’s stock worth $67,000 after purchasing an additional 779 shares during the period. 90.66% of the stock is owned by institutional investors and hedge funds.

Arcosa Price Performance

The company has a fifty day moving average price of $81.55 and a two-hundred day moving average price of $78.34. The firm has a market capitalization of $4.14 billion, a PE ratio of 26.20 and a beta of 0.69. The company has a current ratio of 2.12, a quick ratio of 1.18 and a debt-to-equity ratio of 0.24.

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.