Arcosa (NYSE:ACA) Trading 10.4% Higher Following Earnings Beat

Shares of Arcosa, Inc. (NYSE:ACA - Get Free Report) shot up 10.4% on Friday following a better than expected earnings announcement. The company traded as high as $85.91 and last traded at $85.65. 176,515 shares changed hands during 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, topping the consensus estimate of $0.57 by $0.16. Arcosa had a net margin of 6.90% and a return on equity of 6.90%. The company had revenue of $598.60 million for the quarter, compared to the consensus estimate of $580.06 million. During the same period in the previous year, the firm earned $1.06 earnings per share. The firm's revenue for the quarter was up 9.0% on a year-over-year basis.

Arcosa Announces Dividend

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

Analysts Set New Price Targets

ACA has been the subject of a number of research reports. Oppenheimer increased their price target on shares of Arcosa from $85.00 to $90.00 and gave the stock an "outperform" rating in a research note on Friday, February 23rd. DA Davidson increased their price target 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 equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $90.00.

Hedge Funds Weigh In On Arcosa

Institutional investors and hedge funds have recently made changes to their positions in the business. FORA Capital LLC purchased a new stake in shares of Arcosa during the first quarter valued at approximately $221,000. Seelaus Asset Management LLC purchased a new stake in Arcosa in the first quarter worth approximately $474,000. Capstone Investment Advisors LLC purchased a new stake in Arcosa in the first quarter worth approximately $768,000. BNP Paribas Financial Markets boosted its holdings in Arcosa by 28.3% in the first quarter. BNP Paribas Financial Markets now owns 25,716 shares of the company's stock worth $2,208,000 after purchasing an additional 5,672 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings 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 purchasing an additional 5,098 shares during the last quarter. Institutional investors own 90.66% of the company's stock.

Arcosa Stock Up 10.0 %

The company has a quick ratio of 1.18, a current ratio of 2.12 and a debt-to-equity ratio of 0.24. The company's fifty day moving average is $81.55 and its 200-day moving average is $78.34. The company has a market cap of $4.15 billion, a PE ratio of 26.17 and a beta of 0.69.

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.