Castleark Management LLC Purchases Shares of 14,090 Arcosa, Inc. $ACA

Castleark Management LLC acquired a new position in shares of Arcosa, Inc. (NYSE:ACA) during the 2nd quarter, Holdings Channel reports. The firm acquired 14,090 shares of the company’s stock, valued at approximately $2,047,000.

A number of other institutional investors and hedge funds also recently modified their holdings of ACA. BlackRock Inc. acquired a new stake in Arcosa in the 2nd quarter valued at about $1,222,486,000. Franklin Resources Inc. increased its position in Arcosa by 2,770.5% during the fourth quarter. Franklin Resources Inc. now owns 736,018 shares of the company’s stock worth $78,253,000 after buying an additional 710,377 shares during the last quarter. Norges Bank bought a new stake in Arcosa in the fourth quarter valued at approximately $68,225,000. Bank of New York Mellon Corp acquired a new stake in shares of Arcosa in the second quarter valued at approximately $50,804,000. Finally, T. Rowe Price Investment Management Inc. lifted its position in shares of Arcosa by 25.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,707,884 shares of the company’s stock valued at $181,583,000 after buying an additional 342,242 shares during the last quarter. 90.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Oppenheimer lowered Arcosa from an “outperform” rating to a “market perform” rating in a report on Friday, June 26th. Wall Street Zen raised Arcosa from a “sell” rating to a “hold” rating in a report on Saturday, May 30th. Texas Capital cut shares of Arcosa from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Citigroup lowered shares of Arcosa to a “hold” rating in a research report on Tuesday, June 23rd. Finally, Weiss Ratings upgraded shares of Arcosa from a “hold (c+)” rating to a “buy (b)” rating in a research note on Friday, August 21st. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $141.25.

Arcosa Stock Performance

NYSE:ACA opened at $145.45 on Thursday. The stock has a 50 day simple moving average of $144.68 and a 200 day simple moving average of $127.53. The stock has a market cap of $7.14 billion, a P/E ratio of 14.57, a PEG ratio of 2.18 and a beta of 1.05. Arcosa, Inc. has a 1-year low of $89.03 and a 1-year high of $146.92. The company has a current ratio of 3.12, a quick ratio of 2.31 and a debt-to-equity ratio of 0.48.

Arcosa (NYSE:ACA) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $1.13 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.05). The firm had revenue of $658.70 million during the quarter, compared to analyst estimates of $687.50 million. Arcosa had a net margin of 17.90% and a return on equity of 7.90%. The business’s quarterly revenue was down 10.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.27 earnings per share. Research analysts anticipate that Arcosa, Inc. will post 4.16 earnings per share for the current year.

Arcosa Profile

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.