Glazer Capital LLC Makes New $36.34 Million Investment in Arcosa, Inc. $ACA

Key Points

• Glazer Capital invested approximately $36.34 million in Arcosa during the second quarter, acquiring 250,095 shares and becoming the company’s 20th-largest portfolio holding. Institutional investors collectively own 90.66% of Arcosa.
• Arcosa’s latest quarterly results fell short of expectations: earnings were $1.13 per share versus the $1.18 consensus, while revenue declined 10.6% year over year to $658.7 million.
• Shares opened at $145.51, near their 12-month high, but analyst sentiment remains cautious. The stock has an average “Hold” rating and an average price target of $141.25.

Glazer Capital LLC acquired a new stake in shares of Arcosa, Inc. (NYSE:ACA - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 250,095 shares of the company's stock, valued at approximately $36,336,000. Arcosa comprises 0.9% of Glazer Capital LLC's holdings, making the stock its 20th largest position. Glazer Capital LLC owned about 0.51% of Arcosa at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. State of Wyoming acquired a new stake in Arcosa during the first quarter worth about $30,000. GHP Investment Advisors Inc. purchased a new position in Arcosa during the first quarter valued at approximately $32,000. Farther Finance Advisors LLC raised its position in Arcosa by 73.4% during the fourth quarter. Farther Finance Advisors LLC now owns 307 shares of the company's stock valued at $33,000 after acquiring an additional 130 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in Arcosa in the second quarter valued at approximately $53,000. Finally, Allworth Financial LP lifted its holdings in Arcosa by 392.5% in the fourth quarter. Allworth Financial LP now owns 394 shares of the company's stock valued at $42,000 after acquiring an additional 314 shares during the period. Institutional investors and hedge funds own 90.66% of the company's stock.

Arcosa Stock Up 0.2%

Shares of ACA opened at $145.51 on Friday. 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, Inc. has a 12 month low of $89.03 and a 12 month high of $146.92. The stock's 50 day moving average is $144.88 and its two-hundred day moving average is $127.68. The firm has a market cap of $7.15 billion, a P/E ratio of 14.58, a PEG ratio of 2.18 and a beta of 1.05.

Arcosa (NYSE:ACA - Get Free Report) last posted 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 business had revenue of $658.70 million during the quarter, compared to analysts' expectations of $687.50 million. Arcosa had a net margin of 17.90% and a return on equity of 7.90%. The firm's quarterly revenue was down 10.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.27 earnings per share. Analysts predict that Arcosa, Inc. will post 4.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on ACA. Citigroup cut shares of Arcosa to a "hold" rating in a research note on Tuesday, June 23rd. Stephens set a $150.00 target price on shares of Arcosa in a research note on Thursday, August 6th. Barclays increased their price target on shares of Arcosa from $115.00 to $140.00 and gave the stock an "overweight" rating in a report on Monday, May 4th. Oppenheimer cut shares of Arcosa from an "outperform" rating to a "market perform" rating in a report on Friday, June 26th. Finally, Texas Capital downgraded shares of Arcosa from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 23rd. 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, the stock currently has an average rating of "Hold" and an average target price of $141.25.

Arcosa Company 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.

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