Arcosa, Inc. (NYSE:ACA – Get Free Report) was the target of a large decrease in short interest in July. As of July 31st, there was short interest totalling 253,400 shares, a decrease of 6.3% from the July 15th total of 270,300 shares. Approximately 0.5% of the shares of the stock are short sold. Based on an average trading volume of 264,900 shares, the days-to-cover ratio is currently 1.0 days.
Analyst Upgrades and Downgrades
ACA has been the subject of a number of recent research reports. Oppenheimer increased their price objective on shares of Arcosa from $75.00 to $85.00 in a report on Monday, May 8th. Stephens increased their target price on shares of Arcosa from $77.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 8th. Loop Capital boosted their price target on shares of Arcosa from $80.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, August 7th. Finally, DA Davidson increased their price objective on shares of Arcosa from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, August 7th.
Arcosa Price Performance
Arcosa (NYSE:ACA – Get Free Report) last issued its quarterly earnings results on Friday, August 4th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.18. Arcosa had a net margin of 12.65% and a return on equity of 6.14%. The business had revenue of $584.80 million for the quarter, compared to analysts’ expectations of $575.68 million. During the same quarter in the prior year, the company earned $0.83 earnings per share. The business’s quarterly revenue was down 3.0% on a year-over-year basis. On average, sell-side analysts anticipate that Arcosa will post 2.82 EPS for the current year.
Insider Transactions at Arcosa
In related news, CEO Antonio Carrillo sold 14,411 shares of Arcosa stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $78.25, for a total value of $1,127,660.75. Following the completion of the transaction, the chief executive officer now owns 383,603 shares in the company, valued at approximately $30,016,934.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Antonio Carrillo sold 14,411 shares of Arcosa stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $78.25, for a total value of $1,127,660.75. Following the sale, the chief executive officer now owns 383,603 shares of the company’s stock, valued at approximately $30,016,934.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kerry S. Cole sold 5,000 shares of the company’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $66.24, for a total transaction of $331,200.00. Following the transaction, the insider now owns 23,002 shares of the company’s stock, valued at $1,523,652.48. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.
Hedge Funds Weigh In On Arcosa
Institutional investors have recently modified their holdings of the business. MetLife Investment Management LLC raised its holdings in Arcosa by 0.7% in the second quarter. MetLife Investment Management LLC now owns 25,955 shares of the company’s stock valued at $1,967,000 after acquiring an additional 186 shares in the last quarter. Cerity Partners LLC boosted its holdings in Arcosa by 4.0% in the first quarter. Cerity Partners LLC now owns 5,332 shares of the company’s stock valued at $337,000 after purchasing an additional 206 shares in the last quarter. Ameritas Investment Partners Inc. increased its stake in Arcosa by 5.5% in the second quarter. Ameritas Investment Partners Inc. now owns 4,009 shares of the company’s stock valued at $304,000 after purchasing an additional 209 shares during the last quarter. Moody National Bank Trust Division raised its holdings in Arcosa by 2.1% during the second quarter. Moody National Bank Trust Division now owns 10,798 shares of the company’s stock worth $818,000 after purchasing an additional 226 shares in the last quarter. Finally, LPL Financial LLC lifted its position in shares of Arcosa by 5.2% during the 4th quarter. LPL Financial LLC now owns 4,817 shares of the company’s stock worth $262,000 after buying an additional 239 shares during the last quarter. Institutional investors and hedge funds own 88.10% of the company’s stock.
Arcosa Company Profile
Arcosa, Inc, together with its subsidiaries, provides infrastructure-related products and solutions for the construction, engineered structures, and transportation markets in North America. It operates through three segments: Construction Products, Engineered Structures, and Transportation Products. The Construction Products segment offers natural and recycled aggregates; specialty materials; and construction site support equipment, including trench shields and shoring products for residential and non-residential construction, and specialty/other products, as well as for infrastructure construction.
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