Zacks Investment Research Downgrades US Concrete Inc (USCR) to Sell
US Concrete Inc (NASDAQ:USCR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Saturday.
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. “
A number of other analysts also recently commented on USCR. ValuEngine upgraded US Concrete from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Stifel Nicolaus reiterated a “buy” rating and issued a $98.00 price objective on shares of US Concrete in a research report on Thursday, September 28th. BidaskClub downgraded US Concrete from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, Citigroup Inc raised their target price on US Concrete to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. US Concrete currently has an average rating of “Hold” and a consensus target price of $89.00.
US Concrete (NASDAQ:USCR) opened at $78.15 on Friday. US Concrete has a 52-week low of $45.05 and a 52-week high of $83.85. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.95 and a quick ratio of 1.79. The firm has a market capitalization of $1.25 billion, a PE ratio of 24.48, a price-to-earnings-growth ratio of 2.20 and a beta of 1.32.
US Concrete (NASDAQ:USCR) last issued its earnings results on Friday, November 3rd. The construction company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.47). US Concrete had a return on equity of 25.80% and a net margin of 2.09%. The firm had revenue of $354.60 million during the quarter, compared to analyst estimates of $364.16 million. During the same period in the previous year, the company earned $1.19 earnings per share. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. sell-side analysts anticipate that US Concrete will post 3.51 earnings per share for the current year.
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In other US Concrete news, VP David Andrew Behring sold 361 shares of US Concrete stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $81.56, for a total transaction of $29,443.16. Following the transaction, the vice president now directly owns 10,804 shares in the company, valued at $881,174.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO William J. Sandbrook sold 6,500 shares of US Concrete stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $75.80, for a total value of $492,700.00. Following the transaction, the chief executive officer now owns 412,091 shares in the company, valued at $31,236,497.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,061 shares of company stock worth $614,718. Corporate insiders own 5.90% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Pinebridge Investments L.P. lifted its holdings in shares of US Concrete by 2.8% in the second quarter. Pinebridge Investments L.P. now owns 1,961 shares of the construction company’s stock valued at $154,000 after purchasing an additional 53 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in US Concrete by 1.5% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 4,486 shares of the construction company’s stock worth $352,000 after acquiring an additional 66 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its holdings in US Concrete by 2.2% during the first quarter. Municipal Employees Retirement System of Michigan now owns 3,250 shares of the construction company’s stock worth $210,000 after acquiring an additional 70 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in US Concrete by 2.0% during the second quarter. PNC Financial Services Group Inc. now owns 3,957 shares of the construction company’s stock worth $310,000 after acquiring an additional 77 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its holdings in US Concrete by 1.7% during the second quarter. Louisiana State Employees Retirement System now owns 6,100 shares of the construction company’s stock worth $479,000 after acquiring an additional 100 shares in the last quarter.
About US 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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