Suncrete (NASDAQ:RMIX) Stock Has Average Target Price of $22.25 According to Brokerages

Suncrete (NASDAQ:RMIX – Get Free Report) has received a consensus rating of “Buy” from the six research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $22.25.

A number of research firms recently commented on RMIX. Weiss Ratings cut shares of Suncrete from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday. Jefferies Financial Group reaffirmed a “buy” rating and issued a $22.00 price target on shares of Suncrete in a report on Tuesday, August 18th. Wall Street Zen raised Suncrete to a “sell” rating in a research report on Saturday, June 13th. Finally, B. Riley Financial reiterated a “buy” rating and set a $25.00 price objective (down from $26.00) on shares of Suncrete in a report on Wednesday, August 19th.

Get Our Latest Report on Suncrete

Institutional Investors Weigh In On Suncrete

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Alyeska Investment Group L.P. acquired a new position in Suncrete during the 2nd quarter valued at approximately $78,044,000. Bank of New York Mellon Corp purchased a new stake in shares of Suncrete during the second quarter valued at $27,360,000. Harraden Circle Investments LLC acquired a new position in shares of Suncrete in the 2nd quarter valued at $17,647,000. State Street Corp purchased a new position in Suncrete in the 2nd quarter worth $4,358,000. Finally, Susquehanna International Group LLP purchased a new position in Suncrete in the 2nd quarter worth $285,000. 71.07% of the stock is currently owned by hedge funds and other institutional investors.

Suncrete Trading Up 5.3%

RMIX opened at $13.05 on Monday. The company has a market cap of $959.04 million, a price-to-earnings ratio of -93.21 and a beta of 0.71. The company has a current ratio of 1.40, a quick ratio of 1.15 and a debt-to-equity ratio of 0.56. Suncrete has a 12 month low of $9.20 and a 12 month high of $25.50. The stock has a fifty day moving average of $16.58.

Suncrete (NASDAQ:RMIX – Get Free Report) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.70). The company had revenue of $97.23 million during the quarter, compared to the consensus estimate of $104.93 million. The business’s quarterly 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.

About Suncrete

(Get Free Report)

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.

Featured Stories

Analyst Recommendations for Suncrete (NASDAQ:RMIX)

Receive News & Ratings for Suncrete Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Suncrete and related companies with MarketBeat.com's FREE daily email newsletter.