Suncrete (NASDAQ:RMIX – Get Free Report)’s share price rose 6.1% during mid-day trading on Friday. The stock traded as high as $13.28 and last traded at $13.1460. 234,898 shares changed hands during trading, a decline of 35% from the average daily volume of 362,496 shares. The stock had previously closed at $12.39.
Analyst Ratings Changes
Several analysts have recently weighed in on RMIX shares. Jefferies Financial Group restated a “buy” rating and set a $22.00 price objective on shares of Suncrete in a research report on Tuesday, August 18th. Wall Street Zen raised Suncrete to a “sell” rating in a research note on Saturday, June 13th. Weiss Ratings upgraded Suncrete from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, August 14th. Finally, B. Riley Financial reaffirmed a “buy” rating and set a $25.00 price target (down from $26.00) on shares of Suncrete in a research note on Wednesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Suncrete currently has a consensus rating of “Buy” and a consensus target price of $22.25.
Read Our Latest Stock Report on RMIX
Suncrete Stock Up 5.2%
Suncrete (NASDAQ:RMIX – Get Free Report) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.70). The company had revenue of $97.23 million for the quarter, compared to the consensus estimate of $104.93 million. The business’s revenue was up 146.2% on a year-over-year basis. On average, equities research analysts forecast that Suncrete will post -0.01 EPS for the current year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the company. Harraden Circle Investments LLC bought a new stake in Suncrete in the 2nd quarter worth approximately $17,647,000. Alyeska Investment Group L.P. bought a new position in shares of Suncrete during the 2nd quarter valued at $78,044,000. Bank of New York Mellon Corp bought a new position in shares of Suncrete during the 2nd quarter valued at $27,360,000. State Street Corp purchased a new position in shares of Suncrete in the 2nd quarter worth $4,358,000. Finally, NewEdge Advisors LLC purchased a new position in shares of Suncrete in the 2nd quarter worth $29,000. Institutional investors own 71.07% of the company’s stock.
Suncrete Company Profile
Suncrete, Inc is a construction materials company that manufactures and supplies ready-mixed concrete and related concrete products. Its materials are used in residential, commercial and infrastructure construction projects.
The company serves construction contractors, developers and other customers through its operating facilities and delivery network. Its business is focused on producing concrete to meet project-specific requirements and transporting it to job sites.
Publicly available information about Suncrete’s corporate history, geographic footprint and leadership is limited.
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