US Concrete (USCR) Raised to “Sell” at ValuEngine

ValuEngine upgraded shares of US Concrete (NASDAQ:USCR) from a strong sell rating to a sell rating in a research note released on Wednesday.

Other research analysts also recently issued research reports about the stock. Citigroup dropped their target price on shares of US Concrete from $77.00 to $74.00 and set a $53.95 rating on the stock in a report on Monday, July 23rd. Sidoti initiated coverage on shares of US Concrete in a report on Monday, October 15th. They issued a buy rating on the stock. DA Davidson reiterated a buy rating and issued a $87.00 target price (down previously from $95.00) on shares of US Concrete in a report on Thursday, October 11th. SunTrust Banks set a $70.00 target price on shares of US Concrete and gave the stock a buy rating in a report on Monday, August 6th. Finally, BidaskClub upgraded shares of US Concrete from a sell rating to a hold rating in a report on Thursday, September 20th. Three research analysts have rated the stock with a sell rating and five have assigned a buy rating to the stock. The stock has an average rating of Hold and an average price target of $80.00.

Shares of US Concrete stock traded down $0.94 during midday trading on Wednesday, reaching $38.32. 414,406 shares of the company’s stock traded hands, compared to its average volume of 687,936. The company has a market capitalization of $667.60 million, a P/E ratio of 19.55, a P/E/G ratio of 1.38 and a beta of 1.38. US Concrete has a 52 week low of $27.68 and a 52 week high of $86.35. The company has a current ratio of 1.28, a quick ratio of 1.10 and a debt-to-equity ratio of 2.08.

US Concrete (NASDAQ:USCR) last announced its earnings results on Thursday, November 1st. The construction company reported $0.73 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.42). The firm had revenue of $404.27 million during the quarter, compared to the consensus estimate of $411.35 million. US Concrete had a return on equity of 10.56% and a net margin of 1.69%. The business’s revenue was up 14.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.45 EPS. On average, equities research analysts predict that US Concrete will post 2.88 earnings per share for the current year.

In related news, Director Kurt Matthew Cellar acquired 5,000 shares of the company’s stock in a transaction dated Thursday, September 6th. The shares were bought at an average price of $48.40 per share, for a total transaction of $242,000.00. Following the acquisition, the director now owns 47,309 shares in the company, valued at approximately $2,289,755.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders have bought 7,450 shares of company stock worth $361,798 and have sold 390 shares worth $17,846. Insiders own 5.30% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its holdings in shares of US Concrete by 14.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,375,297 shares of the construction company’s stock worth $108,908,000 after purchasing an additional 297,182 shares during the period. BlackRock Inc. increased its holdings in shares of US Concrete by 3.3% during the 3rd quarter. BlackRock Inc. now owns 2,274,383 shares of the construction company’s stock worth $104,280,000 after purchasing an additional 73,159 shares during the period. Hodges Capital Management Inc. boosted its position in shares of US Concrete by 11.9% during the 3rd quarter. Hodges Capital Management Inc. now owns 768,885 shares of the construction company’s stock valued at $35,253,000 after acquiring an additional 81,630 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of US Concrete by 2.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 602,860 shares of the construction company’s stock valued at $31,650,000 after acquiring an additional 14,708 shares in the last quarter. Finally, Tocqueville Asset Management L.P. boosted its position in shares of US Concrete by 2.9% during the 2nd quarter. Tocqueville Asset Management L.P. now owns 451,180 shares of the construction company’s stock valued at $23,687,000 after acquiring an additional 12,525 shares in the last quarter.

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.

Featured Story: What is the 52-week high/low?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for US Concrete (NASDAQ:USCR)

Receive News & Ratings for US Concrete Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for US Concrete and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply