Arcosa (NYSE:ACA) Reaches New 1-Year High – Here’s Why

Arcosa, Inc. (NYSE:ACA) hit a new 52-week high on Thursday . The company traded as high as $107.83 and last traded at $107.64, with a volume of 24490 shares. The stock had previously closed at $105.83.

Analysts Set New Price Targets

Several research firms have issued reports on ACA. Oppenheimer lifted their price target on Arcosa from $100.00 to $105.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Barclays began coverage on Arcosa in a research note on Tuesday, October 29th. They issued an “overweight” rating and a $106.00 target price on the stock. Finally, Stephens upgraded shares of Arcosa from an “equal weight” rating to an “overweight” rating and set a $96.00 target price for the company in a report on Wednesday, August 7th.

Arcosa Price Performance

The business has a fifty day moving average of $95.99 and a 200 day moving average of $89.39. The firm has a market cap of $5.32 billion, a P/E ratio of 40.24 and a beta of 0.71. The company has a quick ratio of 2.77, a current ratio of 3.61 and a debt-to-equity ratio of 0.51.

Arcosa (NYSE:ACA) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.13. Arcosa had a net margin of 5.17% and a return on equity of 6.64%. The company had revenue of $640.40 million for the quarter, compared to analyst estimates of $682.52 million. During the same period in the prior year, the firm earned $0.73 earnings per share. The company’s revenue was up 8.2% on a year-over-year basis. On average, sell-side analysts anticipate that Arcosa, Inc. will post 3.38 earnings per share for the current year.

Arcosa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.18%. Arcosa’s dividend payout ratio (DPR) is currently 7.60%.

Insider Activity at Arcosa

In other Arcosa news, Director Steven J. Demetriou bought 6,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were bought at an average cost of $87.70 per share, with a total value of $526,200.00. Following the completion of the acquisition, the director now owns 9,943 shares of the company’s stock, valued at $872,001.10. This trade represents a 152.17 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Arcosa

A number of large investors have recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System grew its holdings in shares of Arcosa by 25.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 17,412 shares of the company’s stock worth $1,495,000 after purchasing an additional 3,560 shares in the last quarter. Covestor Ltd boosted its stake in Arcosa by 38.8% in the first quarter. Covestor Ltd now owns 888 shares of the company’s stock valued at $77,000 after buying an additional 248 shares in the last quarter. UniSuper Management Pty Ltd bought a new stake in shares of Arcosa during the 1st quarter valued at approximately $754,000. CANADA LIFE ASSURANCE Co grew its stake in shares of Arcosa by 8.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 43,275 shares of the company’s stock worth $3,712,000 after buying an additional 3,202 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in Arcosa by 8.9% in the 1st quarter. Advisors Asset Management Inc. now owns 32,567 shares of the company’s stock worth $2,796,000 after purchasing an additional 2,669 shares in the last quarter. Institutional investors and hedge funds own 90.66% of the company’s stock.

About Arcosa

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.