Arcosa (NYSE:ACA) Posts Earnings Results

Arcosa (NYSE:ACA) posted its quarterly earnings data on Wednesday. The company reported $1.13 earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.05), FiscalAI reports. Arcosa had a return on equity of 8.52% and a net margin of 7.88%.The company had revenue of $658.70 million for the quarter, compared to analysts’ expectations of $687.50 million. During the same period in the prior year, the company posted $1.27 EPS. The firm’s revenue was down 10.6% compared to the same quarter last year.

Arcosa Trading Down 0.2%

ACA traded down $0.33 on Thursday, reaching $144.99. 335,216 shares of the company’s stock were exchanged, compared to its average volume of 454,145. The company’s 50 day moving average is $139.10 and its 200-day moving average is $124.41. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.60 and a current ratio of 2.32. Arcosa has a twelve month low of $84.96 and a twelve month high of $146.92. The company has a market cap of $7.12 billion, a price-to-earnings ratio of 32.01, a PEG ratio of 2.14 and a beta of 1.05.

Arcosa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th were issued a dividend of $0.05 per share. The ex-dividend date was Wednesday, July 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.1%. Arcosa’s payout ratio is presently 4.42%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Zacks Research upgraded shares of Arcosa from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Wall Street Zen upgraded shares of Arcosa from a “sell” rating to a “hold” rating in a research note on Saturday, May 30th. Weiss Ratings downgraded shares of Arcosa from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Barclays lifted their price target on Arcosa from $115.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Finally, Stephens set a $150.00 price objective on shares of Arcosa in a research note on Thursday. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Arcosa currently has a consensus rating of “Hold” and a consensus price target of $141.25.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. lifted its stake in Arcosa by 2,770.5% in the fourth quarter. Franklin Resources Inc. now owns 736,018 shares of the company’s stock valued at $78,253,000 after buying an additional 710,377 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of Arcosa by 25.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,707,884 shares of the company’s stock worth $181,583,000 after acquiring an additional 342,242 shares during the period. Bank of America Corp DE boosted its stake in Arcosa by 80.5% during the 2nd quarter. Bank of America Corp DE now owns 465,140 shares of the company’s stock valued at $40,332,000 after purchasing an additional 207,457 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Arcosa by 25.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 763,557 shares of the company’s stock valued at $66,208,000 after purchasing an additional 154,172 shares during the period. Finally, Qube Research & Technologies Ltd raised its stake in shares of Arcosa by 130.2% in the 3rd quarter. Qube Research & Technologies Ltd now owns 182,027 shares of the company’s stock worth $17,058,000 after buying an additional 102,953 shares in the last quarter. 90.66% of the stock is currently owned by hedge funds and other institutional investors.

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.