U.S. Concrete Inc. (USCR) Rating Lowered to Sell at Zacks Investment Research
U.S. Concrete Inc. (NASDAQ:USCR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.
According to Zacks, “U.S. Concrete Inc. operates as a provider of ready-mixed concrete and concrete-related products and services to the construction industry in the United States. The Company operates in two segments: ready-mixed concrete and concrete-related products; and precast concrete. The Company’s ready-mixed concrete and concrete-related products segment produces and sells ready-mixed concrete, aggregates (crushed stone, sand and gravel), concrete masonry and building materials. Its precast concrete products segment produces and sells precast concrete products. Markets served by the Company include west Texas, northern California, New Jersey, New York, Washington, D.C., Oklahoma and the mid-Atlantic region. U.S. Concrete Inc. is based in Houston, Texas, USA. “
Several other analysts also recently commented on the stock. DA Davidson set a $80.00 target price on shares of U.S. Concrete and gave the stock a “buy” rating in a report on Thursday, October 6th. SunTrust Banks Inc. assumed coverage on shares of U.S. Concrete in a report on Monday, August 8th. They set a “buy” rating and a $75.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. U.S. Concrete has an average rating of “Buy” and a consensus target price of $77.83.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/12/u-s-concrete-inc-uscr-rating-lowered-to-sell-at-zacks-investment-research.html
Shares of U.S. Concrete (NASDAQ:USCR) opened at 48.03 on Wednesday. The firm’s market cap is $716.61 million. The stock’s 50 day moving average is $49.56 and its 200-day moving average is $58.90. U.S. Concrete has a 12-month low of $40.42 and a 12-month high of $69.66.
U.S. Concrete (NASDAQ:USCR) last announced its earnings results on Thursday, August 4th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.95 by $0.41. The company had revenue of $275.80 million for the quarter, compared to analyst estimates of $297.94 million. U.S. Concrete had a return on equity of 40.33% and a net margin of 1.18%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. On average, analysts anticipate that U.S. Concrete will post $2.99 EPS for the current fiscal year.
In other news, EVP Niel L. Poulsen bought 18,000 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The stock was acquired at an average cost of $56.00 per share, with a total value of $1,008,000.00. Following the completion of the purchase, the executive vice president now owns 41,481 shares of the company’s stock, valued at $2,322,936. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William J. Sandbrook sold 6,500 shares of the firm’s stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $66.07, for a total transaction of $429,455.00. Following the completion of the transaction, 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. 6.90% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Texas Permanent School Fund purchased a new position in U.S. Concrete during the first quarter valued at $653,000. TIAA CREF Investment Management LLC boosted its position in 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 valued at $3,151,000 after buying an additional 7,876 shares in the last quarter. Teachers Advisors Inc. boosted its position in U.S. Concrete by 11.3% in the first quarter. Teachers Advisors Inc. now owns 24,079 shares of the company’s stock valued at $1,435,000 after buying an additional 2,453 shares in the last quarter. Prudential Financial Inc. purchased a new position in U.S. Concrete during the first quarter valued at $2,044,000. Finally, BlackRock Group LTD boosted its position in U.S. Concrete by 183.4% in the first quarter. BlackRock Group LTD now owns 13,128 shares of the company’s stock valued at $782,000 after buying an additional 8,496 shares in the last quarter. 98.09% of the stock is owned by institutional investors and hedge funds.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for U.S. Concrete Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for U.S. Concrete Inc. and related companies with MarketBeat.com's FREE daily email newsletter.