Arcosa (NYSE:ACA) Price Target Raised to $120.00 at DA Davidson

Key Points

• DA Davidson raised Arcosa's price target from $110.00 to $120.00, indicating a potential upside of 24.82% from its current price.
• Arcosa reported a quarterly earnings per share of $1.27, exceeding expectations of $1.05, but its revenue of $736.90 million fell short of the projected $754.20 million.
• The company's stock is currently held 90.66% by hedge funds and other institutional investors, reflecting significant institutional interest.

Arcosa (NYSE:ACA - Get Free Report) had its target price lifted by equities researchers at DA Davidson from $110.00 to $120.00 in a report released on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. DA Davidson's price target indicates a potential upside of 24.59% from the stock's previous close.

Arcosa Stock Down 0.8%

Shares of NYSE ACA traded down $0.81 during trading on Monday, reaching $96.32. The company had a trading volume of 126,728 shares, compared to its average volume of 293,624. The business's 50-day moving average is $88.99 and its 200 day moving average is $86.87. Arcosa has a 12-month low of $68.11 and a 12-month high of $113.43. The stock has a market cap of $4.72 billion, a PE ratio of 51.36 and a beta of 1.01. The company has a quick ratio of 1.35, a current ratio of 2.12 and a debt-to-equity ratio of 0.67.

Arcosa (NYSE:ACA - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.05 by $0.22. Arcosa had a net margin of 3.45% and a return on equity of 6.25%. The firm had revenue of $736.90 million during the quarter, compared to analyst estimates of $754.20 million. During the same period last year, the firm posted $0.91 EPS. Arcosa's revenue was up 10.9% on a year-over-year basis. As a group, equities analysts forecast that Arcosa will post 3.23 earnings per share for the current fiscal year.

Insider Transactions at Arcosa

In other news, insider Jesse E. Jr. Collins sold 8,616 shares of the company's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $86.40, for a total transaction of $744,422.40. Following the completion of the sale, the insider owned 12,551 shares in the company, valued at approximately $1,084,406.40. This represents a 40.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Kerry S. Cole sold 7,966 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $95.77, for a total value of $762,903.82. Following the sale, the insider owned 19,769 shares in the company, valued at approximately $1,893,277.13. This trade represents a 28.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,582 shares of company stock valued at $1,903,406 over the last three months. Company insiders own 2.00% of the company's stock.

Hedge Funds Weigh In On Arcosa

Hedge funds have recently modified their holdings of the company. Neuberger Berman Group LLC grew its stake in Arcosa by 1.6% during the second quarter. Neuberger Berman Group LLC now owns 3,172,694 shares of the company's stock valued at $275,153,000 after acquiring an additional 50,624 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of Arcosa by 17.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,993,241 shares of the company's stock worth $153,719,000 after purchasing an additional 290,523 shares in the last quarter. Royce & Associates LP increased its stake in Arcosa by 1.2% in the first quarter. Royce & Associates LP now owns 1,254,088 shares of the company's stock valued at $96,715,000 after purchasing an additional 14,839 shares during the last quarter. Silvercrest Asset Management Group LLC boosted its position in shares of Arcosa by 4.0% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 1,107,833 shares of the company's stock worth $107,172,000 after buying an additional 42,842 shares in the last quarter. Finally, McElhenny Sheffield Capital Management LLC acquired a new stake in Arcosa during the 2nd quarter worth approximately $93,040,000. Hedge funds and other institutional investors 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.