Arcosa (NYSE:ACA) Hits New 12-Month High – Here’s Why

Shares of Arcosa, Inc. (NYSE:ACA) hit a new 52-week high during trading on Thursday . The stock 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.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ACA. Stephens raised Arcosa from an “equal weight” rating to an “overweight” rating and set a $96.00 target price for the company in a research report on Wednesday, August 7th. Barclays began coverage on Arcosa in a research note on Tuesday, October 29th. They set an “overweight” rating and a $106.00 price objective for the company. Finally, Oppenheimer increased their price objective on Arcosa from $100.00 to $105.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th.

Arcosa Stock Performance

The company has a market capitalization of $5.40 billion, a price-to-earnings ratio of 42.06 and a beta of 0.71. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.61 and a quick ratio of 2.77. The stock has a 50 day moving average price of $96.40 and a two-hundred day moving average price of $89.52.

Arcosa (NYSE:ACA) last announced its earnings results on Wednesday, October 30th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.13. Arcosa had a return on equity of 6.64% and a net margin of 5.17%. The company had revenue of $640.40 million during the quarter, compared to analyst estimates of $682.52 million. During the same period last year, the company posted $0.73 earnings per share. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, analysts predict that Arcosa, Inc. will post 3.38 EPS for the current fiscal year.

Arcosa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were paid a $0.05 dividend. 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 presently 7.60%.

Insider Activity

In other news, Director Steven J. Demetriou acquired 6,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was purchased at an average cost of $87.70 per share, for a total transaction of $526,200.00. Following the completion of the transaction, the director now directly owns 9,943 shares in the company, 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 available at this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Arcosa

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new stake in Arcosa in the second quarter worth about $25,000. Point72 DIFC Ltd acquired a new stake in Arcosa in the third quarter worth about $37,000. Innealta Capital LLC bought a new position in Arcosa during the second quarter worth about $69,000. KBC Group NV boosted its holdings in Arcosa by 20.5% during the third quarter. KBC Group NV now owns 1,424 shares of the company’s stock worth $135,000 after buying an additional 242 shares during the last quarter. Finally, Bank & Trust Co bought a new position in Arcosa during the second quarter worth about $196,000. 90.66% of the stock is currently owned by institutional investors and hedge funds.

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.