US Concrete (NASDAQ:USCR) had its price objective trimmed by SunTrust Banks to $47.00 in a report released on Wednesday morning, The Fly reports. The brokerage currently has a buy rating on the construction company’s stock.
Several other equities research analysts also recently commented on the stock. BidaskClub downgraded shares of US Concrete from a hold rating to a sell rating in a report on Friday, September 28th. DA Davidson reissued a buy rating and issued a $87.00 price target (down from $95.00) on shares of US Concrete in a report on Thursday, October 11th. Sidoti initiated coverage on shares of US Concrete in a report on Monday, October 15th. They issued a buy rating on the stock. Zacks Investment Research downgraded shares of US Concrete from a hold rating to a sell rating in a report on Saturday, October 13th. Finally, ValuEngine raised shares of US Concrete from a strong sell rating to a sell rating in a report on Wednesday, November 7th. Three equities research analysts have rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $76.17.
NASDAQ USCR opened at $37.50 on Wednesday. The stock has a market cap of $624.71 million, a price-to-earnings ratio of 13.84, a price-to-earnings-growth ratio of 1.39 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.
In other news, Director Kurt Matthew Cellar purchased 5,000 shares of the stock in a transaction dated Thursday, September 6th. The shares were purchased at an average cost of $48.40 per share, with a total value of $242,000.00. Following the completion of 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 document filed with the SEC, which is available at this link. Over the last three months, insiders bought 12,500 shares of company stock worth $532,350 and sold 390 shares worth $15,933. Corporate insiders own 5.30% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of US Concrete by 0.5% in the third quarter. Vanguard Group Inc. now owns 965,285 shares of the construction company’s stock worth $44,257,000 after buying an additional 4,441 shares in the last quarter. Legal & General Group Plc raised its stake in US Concrete by 8.9% in the third quarter. Legal & General Group Plc now owns 33,988 shares of the construction company’s stock valued at $1,574,000 after purchasing an additional 2,787 shares in the last quarter. Rehmann Capital Advisory Group purchased a new stake in US Concrete in the third quarter valued at approximately $2,968,000. Teachers Advisors LLC raised its stake in US Concrete by 1.1% in the third quarter. Teachers Advisors LLC now owns 196,187 shares of the construction company’s stock valued at $8,995,000 after purchasing an additional 2,048 shares in the last quarter. Finally, IndexIQ Advisors LLC raised its stake in US Concrete by 3.9% in the third quarter. IndexIQ Advisors LLC now owns 37,637 shares of the construction company’s stock valued at $1,726,000 after purchasing an additional 1,423 shares in the last quarter.
About US Concrete
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.
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