Brokerages Set US Concrete Inc (USCR) PT at $80.20

US Concrete Inc (NASDAQ:USCR) has been given a consensus recommendation of “Hold” by the nine brokerages that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $78.60.

A number of equities research analysts recently commented on the company. SunTrust Banks set a $70.00 price target on US Concrete and gave the stock a “buy” rating in a research report on Monday, August 6th. BidaskClub lowered US Concrete from a “hold” rating to a “sell” rating in a research report on Friday, September 28th. Citigroup decreased their price target on US Concrete from $77.00 to $74.00 and set a “$53.95” rating on the stock in a research report on Monday, July 23rd. DA Davidson restated a “buy” rating and set a $87.00 price target (down from $95.00) on shares of US Concrete in a research report on Thursday. Finally, Zacks Investment Research lowered US Concrete from a “hold” rating to a “sell” rating in a research report on Saturday.

In other news, CFO John E. Kunz acquired 1,000 shares of the firm’s stock in a transaction on Thursday, August 9th. The shares were purchased at an average cost of $51.76 per share, for a total transaction of $51,760.00. Following the transaction, the chief financial officer now owns 13,356 shares of the company’s stock, valued at $691,306.56. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman William J. Sandbrook sold 9,000 shares of the stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $51.45, for a total value of $463,050.00. Following the completion of the transaction, the chairman now owns 390,670 shares in the company, valued at $20,099,971.50. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 8,650 shares of company stock worth $424,178 and sold 9,260 shares worth $476,128. 5.30% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC boosted its position in US Concrete by 9.5% in the 1st quarter. Barclays PLC now owns 13,021 shares of the construction company’s stock valued at $788,000 after buying an additional 1,134 shares during the last quarter. LPL Financial LLC boosted its position in shares of US Concrete by 33.5% in the 1st quarter. LPL Financial LLC now owns 4,679 shares of the construction company’s stock worth $283,000 after purchasing an additional 1,173 shares during the last quarter. Rhumbline Advisers boosted its position in shares of US Concrete by 4.2% in the 2nd quarter. Rhumbline Advisers now owns 38,069 shares of the construction company’s stock worth $1,999,000 after purchasing an additional 1,539 shares during the last quarter. Royal Bank of Canada boosted its position in shares of US Concrete by 7.6% in the 1st quarter. Royal Bank of Canada now owns 24,994 shares of the construction company’s stock worth $1,509,000 after purchasing an additional 1,771 shares during the last quarter. Finally, OppenheimerFunds Inc. boosted its position in shares of US Concrete by 16.5% in the 1st quarter. OppenheimerFunds Inc. now owns 13,132 shares of the construction company’s stock worth $793,000 after purchasing an additional 1,859 shares during the last quarter.

NASDAQ USCR traded up $0.40 during trading hours on Friday, reaching $35.94. 505,761 shares of the company’s stock were exchanged, compared to its average volume of 383,019. The firm has a market cap of $771.10 million, a PE ratio of 13.26, a price-to-earnings-growth ratio of 1.26 and a beta of 1.06. US Concrete has a one year low of $35.46 and a one year high of $86.35. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.41 and a quick ratio of 1.21.

US Concrete (NASDAQ:USCR) last released its quarterly earnings results on Tuesday, August 7th. The construction company reported $1.08 EPS for the quarter, missing the Zacks’ consensus estimate of $1.29 by ($0.21). The business had revenue of $404.20 million for the quarter, compared to the consensus estimate of $390.55 million. US Concrete had a return on equity of 12.82% and a net margin of 2.34%. The firm’s revenue was up 18.6% on a year-over-year basis. During the same quarter last year, the company earned $0.95 earnings per share. As a group, equities analysts expect that US Concrete will post 3.63 earnings per share for the current year.

US Concrete Company Profile

U.S. Concrete, Inc, through its subsidiaries, produces and sells ready-mixed concrete, aggregates, and concrete-related products and services to the construction industry in the United States and Canada. It operates through two segments, Ready-Mixed Concrete and Aggregate Products. The Ready-Mixed Concrete segment engages in the formulation, preparation, and delivery of ready-mixed concrete to customers' job sites; and the provision of various services that include the formulation of mixtures for specific design uses, on-site and lab-based product quality control, and customized delivery programs.

Further Reading: Technical Analysis

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