Suncrete (NASDAQ:RMIX – Get Free Report) gapped up before the market opened on Monday. The stock had previously closed at $12.39, but opened at $12.89. Suncrete shares last traded at $12.6950, with a volume of 7,875 shares traded.
Analysts Set New Price Targets
Several analysts have commented on RMIX shares. Jefferies Financial Group reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Suncrete in a research report on Tuesday, August 18th. Weiss Ratings downgraded shares of Suncrete from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday. B. Riley Financial reissued 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. Finally, Wall Street Zen raised Suncrete to a “sell” rating in a research report on Saturday, June 13th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $22.25.
Get Our Latest Stock Analysis on Suncrete
Suncrete Stock Performance
Suncrete (NASDAQ:RMIX – Get Free Report) last posted its 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 business had revenue of $97.23 million during the quarter, compared to analysts’ expectations of $104.93 million. The company’s quarterly revenue was up 146.2% on a year-over-year basis. As a group, equities research analysts predict that Suncrete will post -0.01 EPS for the current year.
Institutional Trading of Suncrete
Institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC purchased a new stake in Suncrete in the 2nd quarter worth approximately $29,000. Susquehanna International Group LLP purchased a new position in Suncrete in the 2nd quarter worth approximately $285,000. State Street Corp purchased a new position in Suncrete in the 2nd quarter worth approximately $4,358,000. Harraden Circle Investments LLC bought a new position in shares of Suncrete in the 2nd quarter worth $17,647,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Suncrete in the 2nd quarter worth $27,360,000. Hedge funds and other institutional investors own 71.07% of the company’s stock.
About Suncrete
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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