US Concrete (USCR) PT Lowered to $47.00 at SunTrust Banks

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.

US Concrete (NASDAQ:USCR) last released its quarterly earnings data on Thursday, November 1st. The construction company reported $0.73 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.15 by ($0.42). The business had revenue of $404.27 million for the quarter, compared to analysts’ expectations of $411.35 million. US Concrete had a net margin of 1.69% and a return on equity of 10.56%. US Concrete’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period last year, the company earned $1.45 earnings per share. On average, analysts anticipate that US Concrete will post 2.67 earnings per share for the current fiscal year.

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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