U.S. Concrete Inc. (USCR) Given a $80.00 Price Target by DA Davidson Analysts
U.S. Concrete Inc. (NASDAQ:USCR) has been assigned a $80.00 price target by equities researchers at DA Davidson in a research report issued to clients and investors on Thursday. The brokerage currently has a a “buy” rating on the stock. DA Davidson’s price target indicates a potential upside of 73.42% from the company’s current price.
A number of other research analysts also recently weighed in on USCR. Zacks Investment Research upgraded shares of U.S. Concrete from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a research report on Wednesday, July 13th. Sidoti upgraded shares of U.S. Concrete from a “neutral” rating to a “buy” rating and increased their price objective for the company from $72.00 to $90.00 in a research report on Friday, June 10th. Finally, SunTrust Banks Inc. began coverage on shares of U.S. Concrete in a research report on Monday, August 8th. They set a “buy” rating and a $75.00 price objective on the stock. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. U.S. Concrete presently has an average rating of “Buy” and an average target price of $77.83.
Shares of U.S. Concrete (NASDAQ:USCR) traded down 1.14% on Thursday, reaching $46.13. 707,865 shares of the company’s stock traded hands. U.S. Concrete has a 52-week low of $40.42 and a 52-week high of $69.66. The stock’s market cap is $688.26 million. The firm’s 50-day moving average is $50.29 and its 200-day moving average is $59.22.
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U.S. Concrete (NASDAQ:USCR) last issued its earnings results on Thursday, August 4th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by $0.41. The firm earned $275.80 million during the quarter, compared to the consensus estimate of $297.94 million. U.S. Concrete had a return on equity of 40.33% and a net margin of 1.18%. The company’s revenue was up 12.7% compared to the same quarter last year. Analysts anticipate that U.S. Concrete will post $2.99 EPS for the current fiscal year.
In other news, VP Jeff L. Davis sold 6,000 shares of the stock in a transaction on Wednesday, July 20th. The shares were 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 of the company’s stock, valued at $1,894,615.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William J. Sandbrook sold 6,500 shares of the stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $66.07, for a total transaction of $429,455.00. Following the completion of the sale, the chief executive officer now directly owns 509,867 shares of the company’s stock, valued at $33,686,912.69. The disclosure for this sale can be found here. Company insiders own 6.90% of the company’s stock.
Several hedge funds have recently made changes to their positions in USCR. Texas Permanent School Fund purchased a new stake in shares of U.S. Concrete during the first quarter worth about $653,000. TIAA CREF Investment Management LLC boosted its stake in shares of U.S. Concrete by 17.5% in the first quarter. TIAA CREF Investment Management LLC now owns 52,879 shares of the company’s stock worth $3,151,000 after buying an additional 7,876 shares during the period. Teachers Advisors Inc. boosted its stake in shares of U.S. Concrete by 11.3% in the first quarter. Teachers Advisors Inc. now owns 24,079 shares of the company’s stock worth $1,435,000 after buying an additional 2,453 shares during the period. Prudential Financial Inc. purchased a new stake in shares of U.S. Concrete during the first quarter worth about $2,044,000. Finally, Algert Global LLC purchased a new stake in shares of U.S. Concrete during the first quarter worth about $343,000. 98.09% of the stock is owned by hedge funds and other institutional investors.
U.S. Concrete Company Profile
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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