Other analysts have also recently issued research reports about the stock. Zacks Investment Research restated a “sell” rating on shares of US Concrete in a research note on Saturday, July 27th. Exane BNP Paribas assumed coverage on shares of US Concrete in a research report on Wednesday. They set an “outperform” rating on the stock. BNP Paribas assumed coverage on shares of US Concrete in a research report on Wednesday. They set an “outperform” rating on the stock. ValuEngine lowered shares of US Concrete from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Stifel Nicolaus lowered shares of US Concrete from a “buy” rating to a “hold” rating and raised their price target for the stock from $51.00 to $53.00 in a research report on Thursday, July 18th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $54.60.
NASDAQ USCR opened at $48.69 on Thursday. The firm has a 50-day moving average of $46.73 and a 200-day moving average of $46.69. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.09 and a current ratio of 1.29. The stock has a market cap of $864.47 million, a PE ratio of 83.69 and a beta of 1.35. US Concrete has a 52-week low of $27.68 and a 52-week high of $56.22.
US Concrete (NASDAQ:USCR) last posted its earnings results on Friday, August 9th. The construction company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.62). The company had revenue of $367.50 million for the quarter, compared to analyst estimates of $408.18 million. US Concrete had a return on equity of 3.05% and a net margin of 1.06%. The business’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.08 EPS. As a group, analysts predict that US Concrete will post 1.89 EPS for the current fiscal year.
In other news, VP Herbert A. Burton sold 1,268 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $47.69, for a total value of $60,470.92. Following the transaction, the vice president now owns 5,681 shares in the company, valued at approximately $270,926.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Matthew Emmert sold 1,699 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $47.55, for a total transaction of $80,787.45. Following the completion of the transaction, the vice president now owns 2,460 shares in the company, valued at approximately $116,973. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,717 shares of company stock worth $176,196. 4.70% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC bought a new stake in shares of US Concrete in the 2nd quarter worth $29,000. Meeder Asset Management Inc. bought a new stake in shares of US Concrete in the 2nd quarter worth $61,000. Bank of Montreal Can grew its stake in shares of US Concrete by 1,359.1% in the 2nd quarter. Bank of Montreal Can now owns 1,605 shares of the construction company’s stock worth $80,000 after acquiring an additional 1,495 shares in the last quarter. Advisory Services Network LLC grew its stake in shares of US Concrete by 20.2% in the 1st quarter. Advisory Services Network LLC now owns 2,498 shares of the construction company’s stock worth $103,000 after acquiring an additional 420 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its stake in shares of US Concrete by 1,100.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,324 shares of the construction company’s stock worth $165,000 after acquiring an additional 3,047 shares in the last quarter. Institutional investors and hedge funds own 97.46% of the company’s stock.
US Concrete Company Profile
U.S. Concrete, Inc, through its subsidiaries, produces and sells ready-mixed concrete, aggregates, and concrete-related products and services to the construction industry in the United States, U.S. Virgin Islands, and Canada. It operates through two segments, Ready-Mixed Concrete and Aggregate Products.
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