Arcosa, Inc. (NYSE:ACA) Sees Large Growth in Short Interest

Arcosa, Inc. (NYSE:ACAGet Free Report) was the target of a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 480,500 shares, a growth of 18.3% from the April 30th total of 406,100 shares. Based on an average daily trading volume, of 230,300 shares, the days-to-cover ratio is currently 2.1 days. Approximately 1.0% of the shares of the stock are short sold.

Arcosa Trading Down 0.6 %

Shares of NYSE ACA traded down $0.53 during midday trading on Friday, hitting $87.91. The stock had a trading volume of 428,422 shares, compared to its average volume of 219,114. The company’s 50-day simple moving average is $83.31 and its 200 day simple moving average is $81.12. The firm has a market cap of $4.27 billion, a P/E ratio of 30.11 and a beta of 0.69. Arcosa has a fifty-two week low of $61.98 and a fifty-two week high of $89.44. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.28 and a quick ratio of 1.36.

Arcosa (NYSE:ACAGet Free Report) last released its earnings results on Friday, May 3rd. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.52 by $0.21. The company had revenue of $598.60 million during the quarter, compared to analysts’ expectations of $580.06 million. Arcosa had a return on equity of 6.13% and a net margin of 6.05%. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period last year, the firm earned $1.06 EPS. Research analysts anticipate that Arcosa will post 3.43 EPS for the current year.

Arcosa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Friday, July 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.23%. Arcosa’s dividend payout ratio (DPR) is currently 6.85%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. DA Davidson lifted their price objective on Arcosa from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Oppenheimer lifted their price objective on Arcosa from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Arcosa presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.00.

View Our Latest Research Report on ACA

Insider Buying and Selling

In related news, insider Kerry S. Cole sold 10,978 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $88.71, for a total transaction of $973,858.38. Following the completion of the transaction, the insider now owns 18,527 shares in the company, valued at approximately $1,643,530.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arcosa

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Arcosa during the fourth quarter worth $45,468,000. First Eagle Investment Management LLC grew its stake in shares of Arcosa by 39.8% during the third quarter. First Eagle Investment Management LLC now owns 98,456 shares of the company’s stock worth $7,079,000 after purchasing an additional 28,027 shares during the period. Qube Research & Technologies Ltd grew its stake in shares of Arcosa by 22.8% during the third quarter. Qube Research & Technologies Ltd now owns 63,976 shares of the company’s stock worth $4,600,000 after purchasing an additional 11,878 shares during the period. FMR LLC grew its stake in shares of Arcosa by 224.6% during the third quarter. FMR LLC now owns 69,963 shares of the company’s stock worth $5,030,000 after purchasing an additional 48,411 shares during the period. Finally, Hsbc Holdings PLC acquired a new stake in shares of Arcosa during the third quarter worth $1,271,000. 90.66% of the stock is owned by institutional investors and hedge funds.

About Arcosa

(Get Free Report)

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.

Featured Articles

Receive News & Ratings for Arcosa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arcosa and related companies with MarketBeat.com's FREE daily email newsletter.