Short Interest in Arcosa, Inc. (NYSE:ACA) Drops By 20.9%

Arcosa, Inc. (NYSE:ACA - Get Free Report) was the target of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 584,300 shares, a decrease of 20.9% from the October 15th total of 738,400 shares. Based on an average daily volume of 252,900 shares, the days-to-cover ratio is presently 2.3 days. Currently, 1.2% of the company's stock are sold short.

Wall Street Analysts Forecast Growth

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

Arcosa Stock Performance

Shares of NYSE ACA traded down $2.28 during trading hours on Friday, hitting $101.39. 309,031 shares of the company's stock were exchanged, compared to its average volume of 240,729. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 38.55 and a beta of 0.71. The company's 50-day moving average price is $94.70 and its 200-day moving average price is $88.78. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.61 and a quick ratio of 2.77. Arcosa has a 1-year low of $71.89 and a 1-year high of $107.79.

Arcosa (NYSE:ACA - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate 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 analysts' expectations of $682.52 million. Arcosa's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.73 earnings per share. On average, sell-side analysts expect that Arcosa will post 3.38 earnings per share for the current fiscal year.

Arcosa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date was Tuesday, October 15th. Arcosa's dividend payout ratio is currently 7.60%.

Insider Transactions at Arcosa

In other news, Director Steven J. Demetriou bought 6,000 shares of the stock in a transaction on Thursday, September 12th. The shares were purchased at an average price of $87.70 per share, for a total transaction of $526,200.00. Following the completion of the purchase, the director now directly owns 9,943 shares of the company's stock, valued at $872,001.10. This trade represents a 152.17 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Arcosa

A number of institutional investors have recently added to or reduced their stakes in ACA. nVerses Capital LLC acquired a new stake in shares of Arcosa during the 2nd quarter worth approximately $25,000. Point72 DIFC Ltd acquired a new stake in Arcosa during the third quarter worth $37,000. Innealta Capital LLC bought a new stake in Arcosa in the 2nd quarter valued at $69,000. Covestor Ltd raised its stake in shares of Arcosa by 38.8% in the 1st quarter. Covestor Ltd now owns 888 shares of the company's stock valued at $77,000 after buying an additional 248 shares in the last quarter. Finally, KBC Group NV lifted its holdings in shares of Arcosa by 20.5% during the 3rd quarter. KBC Group NV now owns 1,424 shares of the company's stock worth $135,000 after acquiring an additional 242 shares during the period. 90.66% of the stock is 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.