DA Davidson Analysts Give U.S. Concrete Inc. (USCR) a $80.00 Price Target
U.S. Concrete Inc. (NASDAQ:USCR) has been given a $80.00 price target by analysts at DA Davidson in a report issued on Thursday. The brokerage presently has a a “buy” rating on the stock. DA Davidson’s price objective indicates a potential upside of 71.45% from the company’s current price.
USCR has been the subject of several other reports. Zacks Investment Research upgraded shares of U.S. Concrete from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 6th. SunTrust Banks Inc. began coverage on shares of U.S. Concrete in a report on Monday, August 8th. They set a “buy” rating and a $75.00 price target for the company. Finally, Sidoti upgraded shares of U.S. Concrete from a “neutral” rating to a “buy” rating and upped their price target for the stock from $72.00 to $90.00 in a report on Friday, June 10th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $77.83.
U.S. Concrete (NASDAQ:USCR) traded down 1.41% on Thursday, hitting $46.00. The stock had a trading volume of 492,219 shares. The company has a 50 day moving average of $50.29 and a 200 day moving average of $59.22. U.S. Concrete has a 12-month low of $40.42 and a 12-month high of $69.66. The company’s market capitalization is $686.32 million.
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U.S. Concrete (NASDAQ:USCR) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.95 by $0.41. U.S. Concrete had a net margin of 1.18% and a return on equity of 40.33%. The firm had revenue of $275.80 million for the quarter, compared to analyst estimates of $297.94 million. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, equities analysts expect that U.S. Concrete will post $2.99 earnings per share for the current year.
In related news, VP Jeff L. Davis sold 6,000 shares of the stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $65.04, for a total value of $390,240.00. Following the completion of the sale, the vice president now directly owns 29,130 shares in the company, valued at $1,894,615.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Niel L. Poulsen acquired 18,000 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The stock was bought at an average price of $56.00 per share, with a total value of $1,008,000.00. Following the completion of the acquisition, the executive vice president now directly owns 41,481 shares of the company’s stock, valued at $2,322,936. The disclosure for this purchase can be found here. 6.90% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. Invictus RG bought a new stake in U.S. Concrete during the first quarter worth $134,000. Loomis Sayles & Co. L P purchased a new stake in shares of U.S. Concrete during the first quarter worth approximately $5,422,000. UBS Group AG boosted its stake in shares of U.S. Concrete by 303.1% in the first quarter. UBS Group AG now owns 30,687 shares of the company’s stock worth $1,828,000 after buying an additional 23,075 shares during the period. Picton Mahoney Asset Management boosted its stake in shares of U.S. Concrete by 631.3% in the first quarter. Picton Mahoney Asset Management now owns 11,700 shares of the company’s stock worth $697,000 after buying an additional 10,100 shares during the period. Finally, Menta Capital LLC purchased a new stake in shares of U.S. Concrete during the first quarter worth approximately $232,000. Institutional investors and hedge funds own 98.09% of the company’s stock.
About U.S. Concrete
U.S. Concrete, Inc is a producer of ready-mixed concrete in a range of geographic markets in the United States. The Company conducts its operations through two segments. The ready-mixed concrete segment engages principally in the formulation, production and delivery of ready-mixed concrete to its customers’ job sites.
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