Arcosa (NYSE:ACA) Stock Price Up 10.4% After Strong Earnings

Shares of Arcosa, Inc. (NYSE:ACA) traded up 10.4% during mid-day trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $85.91 and last traded at $85.65. 176,515 shares were traded during mid-day trading, a decline of 21% from the average session volume of 223,278 shares. The stock had previously closed at $77.60.

The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.57 by $0.16. Arcosa had a return on equity of 6.90% and a net margin of 6.90%. The business had revenue of $598.60 million for the quarter, compared to analyst estimates of $580.06 million. During the same quarter in the prior year, the company posted $1.06 EPS. The company’s quarterly revenue was up 9.0% on a year-over-year basis.

Arcosa Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Oppenheimer increased 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 lifted their price objective on shares of Arcosa from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Arcosa currently has an average rating of “Moderate Buy” and an average target price of $90.00.

Hedge Funds Weigh In On Arcosa

Large investors have recently made changes to their positions in the business. FORA Capital LLC purchased a new stake in shares of Arcosa in the 1st quarter worth $221,000. Seelaus Asset Management LLC acquired a new stake in Arcosa in the 1st quarter valued at about $474,000. Capstone Investment Advisors LLC purchased a new position in Arcosa in the first quarter worth approximately $768,000. BNP Paribas Financial Markets lifted its stake in Arcosa by 28.3% during the 1st quarter. BNP Paribas Financial Markets now owns 25,716 shares of the company’s stock worth $2,208,000 after acquiring an additional 5,672 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Arcosa by 1.9% in the first quarter. Principal Financial Group Inc. now owns 268,673 shares of the company’s stock worth $23,068,000 after acquiring an additional 5,098 shares during the last quarter. 90.66% of the stock is currently owned by hedge funds and other institutional investors.

Arcosa Price Performance

The firm has a market cap of $4.14 billion, a price-to-earnings ratio of 26.20 and a beta of 0.69. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.12 and a quick ratio of 1.18. The stock has a 50-day moving average price of $81.55 and a 200 day moving average price of $78.34.

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.