U S Concrete, Inc. (USCR) Stock Rating Lowered by Zacks Investment Research
U S Concrete, Inc. (NASDAQ:USCR) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released 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. “
USCR has been the topic of a number of other reports. BidaskClub lowered U S Concrete from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Stifel Nicolaus reiterated a “buy” rating and issued a $98.00 price objective on shares of U S Concrete in a research report on Thursday, September 28th. Citigroup Inc. lifted their price objective on U S Concrete to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Finally, ValuEngine lowered U S Concrete from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $89.00.
Shares of U S Concrete (USCR) traded down 0.48% during trading on Wednesday, reaching $76.73. The company’s stock had a trading volume of 95,266 shares. The stock’s 50 day moving average price is $75.58 and its 200-day moving average price is $72.20. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 43.35 and a beta of 1.21. U S Concrete has a 52-week low of $45.05 and a 52-week high of $83.85.
U S Concrete (NASDAQ:USCR) last issued its quarterly earnings data on Tuesday, August 8th. The construction company reported $0.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.09. The firm had revenue of $340.90 million for the quarter, compared to analyst estimates of $342.60 million. U S Concrete had a return on equity of 25.80% and a net margin of 2.09%. The business’s quarterly revenue was up 23.6% compared to the same quarter last year. During the same period last year, the company earned $0.54 EPS. Equities analysts anticipate that U S Concrete will post $3.88 EPS for the current year.
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In other news, CEO William J. Sandbrook sold 6,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $75.80, for a total value of $492,700.00. Following the completion of the transaction, the chief executive officer now owns 412,091 shares in the company, valued at approximately $31,236,497.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP David Andrew Behring sold 361 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $81.56, for a total value of $29,443.16. Following the completion of the transaction, the vice president now owns 10,804 shares of the company’s stock, valued at approximately $881,174.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,561 shares of company stock valued at $1,110,748. 5.90% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue raised its stake in U S Concrete by 5.2% during the first quarter. State of Alaska Department of Revenue now owns 1,610 shares of the construction company’s stock valued at $103,000 after buying an additional 80 shares during the last quarter. PineBridge Investments L.P. raised its stake in U S Concrete by 1.6% during the second quarter. PineBridge Investments L.P. now owns 1,716 shares of the construction company’s stock valued at $105,000 after buying an additional 27 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in U S Concrete by 15.3% during the second quarter. Ameritas Investment Partners Inc. now owns 1,337 shares of the construction company’s stock valued at $105,000 after buying an additional 177 shares during the last quarter. Riverhead Capital Management LLC purchased a new position in U S Concrete during the first quarter valued at $107,000. Finally, Acrospire Investment Management LLC raised its stake in U S Concrete by 36.7% during the second quarter. Acrospire Investment Management LLC now owns 1,863 shares of the construction company’s stock valued at $113,000 after buying an additional 500 shares during the last quarter.
About U S Concrete
U.S. Concrete, Inc is a producer of ready-mixed concrete in select geographic markets in the United States. The Company conducts its operations through two business segments: ready-mixed concrete and aggregate products. 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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