Royal Bank of Canada Lowers Stock Position in Arcosa, Inc. $ACA

Royal Bank of Canada cut its stake in shares of Arcosa, Inc. (NYSE:ACA) by 92.0% in the first quarter, Holdings Channel.com reports. The fund owned 3,661 shares of the company’s stock after selling 41,944 shares during the period. Royal Bank of Canada’s holdings in Arcosa were worth $389,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. State of Wyoming acquired a new position in shares of Arcosa in the 1st quarter worth approximately $30,000. GHP Investment Advisors Inc. purchased a new position in shares of Arcosa during the 1st quarter worth approximately $32,000. Farther Finance Advisors LLC increased its holdings in Arcosa by 73.4% in the 4th quarter. Farther Finance Advisors LLC now owns 307 shares of the company’s stock valued at $33,000 after purchasing an additional 130 shares during the last quarter. Allworth Financial LP increased its holdings in Arcosa by 392.5% in the 4th quarter. Allworth Financial LP now owns 394 shares of the company’s stock valued at $42,000 after purchasing an additional 314 shares during the last quarter. Finally, Quarry LP raised its position in Arcosa by 160.0% in the third quarter. Quarry LP now owns 403 shares of the company’s stock valued at $38,000 after purchasing an additional 248 shares during the period. 90.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ACA shares. Weiss Ratings upgraded Arcosa from a “hold (c+)” rating to a “buy (b)” rating in a research note on Friday, August 21st. Texas Capital cut Arcosa from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Stephens set a $150.00 price objective on Arcosa in a report on Thursday, August 6th. Zacks Research raised Arcosa from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Finally, Barclays increased their target price on Arcosa from $115.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $141.25.

Arcosa Price Performance

Shares of ACA opened at $145.45 on Thursday. Arcosa, Inc. has a fifty-two week low of $89.03 and a fifty-two week high of $146.92. The firm’s 50 day moving average price is $144.68 and its 200 day moving average price is $127.53. The company has a market cap of $7.14 billion, a P/E ratio of 14.57, a PEG ratio of 2.18 and a beta of 1.05. The company has a quick ratio of 2.31, a current ratio of 3.12 and a debt-to-equity ratio of 0.48.

Arcosa (NYSE:ACA) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $1.13 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.05). Arcosa had a net margin of 17.90% and a return on equity of 7.90%. The business had revenue of $658.70 million during the quarter, compared to analysts’ expectations of $687.50 million. During the same period in the prior year, the business earned $1.27 EPS. The business’s quarterly revenue was down 10.6% on a year-over-year basis. On average, research analysts forecast that Arcosa, Inc. will post 4.16 earnings per share for the current fiscal year.

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.