U.S. Concrete Inc. (USCR) Given Average Rating of “Buy” by Brokerages
U.S. Concrete Inc. (NASDAQ:USCR) has received a consensus recommendation of “Buy” from the eight ratings firms that are currently covering the company. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $79.00.
USCR has been the topic of several analyst reports. Zacks Investment Research upgraded U.S. Concrete from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a report on Wednesday, July 13th. DA Davidson set a $80.00 price objective on U.S. Concrete and gave the company a “buy” rating in a research note on Thursday, October 6th. Finally, SunTrust Banks Inc. began coverage on U.S. Concrete in a research note on Monday, August 8th. They issued a “buy” rating and a $75.00 price objective on the stock.
Shares of U.S. Concrete (NASDAQ:USCR) traded down 0.04% during mid-day trading on Tuesday, hitting $49.58. The stock had a trading volume of 176,173 shares. U.S. Concrete has a 52 week low of $40.42 and a 52 week high of $69.66. The stock has a 50 day moving average of $48.76 and a 200-day moving average of $58.56. The stock’s market capitalization is $739.73 million.
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U.S. Concrete (NASDAQ:USCR) last released 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. U.S. Concrete had a return on equity of 40.33% and a net margin of 1.18%. The company had revenue of $275.80 million for the quarter, compared to the consensus estimate of $297.94 million. The company’s revenue was up 12.7% compared to the same quarter last year. On average, equities research analysts predict that U.S. Concrete will post $2.99 earnings per share for the current year.
In other news, CEO William J. Sandbrook sold 6,500 shares of the stock in a transaction that occurred on Wednesday, September 21st. The stock was sold at an average price of $46.99, for a total transaction of $305,435.00. Following the transaction, the chief executive officer now owns 495,061 shares in the company, valued at $23,262,916.39. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Niel L. Poulsen bought 18,000 shares of the stock in a transaction dated Monday, August 8th. The shares were purchased at an average price of $56.00 per share, for a total transaction of $1,008,000.00. Following the purchase, the executive vice president now owns 41,481 shares of the company’s stock, valued at approximately $2,322,936. The disclosure for this purchase can be found here. Insiders own 6.90% of the company’s stock.
Several institutional investors have recently made changes to their positions in USCR. BlackRock Fund Advisors raised its position in shares of U.S. Concrete by 127.5% in the first quarter. BlackRock Fund Advisors now owns 897,377 shares of the company’s stock worth $53,466,000 after buying an additional 502,993 shares during the period. Bowen Hanes & Co. Inc. purchased a new position in shares of U.S. Concrete during the second quarter worth $15,532,000. GM Advisory Group Inc. purchased a new position in shares of U.S. Concrete during the second quarter worth $13,421,000. Kornitzer Capital Management Inc. KS purchased a new position in shares of U.S. Concrete during the second quarter worth $10,457,000. Finally, Eaton Vance Management purchased a new position in shares of U.S. Concrete during the second quarter worth $8,918,000. Institutional investors 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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