US Concrete (NASDAQ:USCR) Trading 6.1% Higher

US Concrete Inc (NASDAQ:USCR) shares traded up 6.1% on Tuesday . The company traded as high as $47.47 and last traded at $47.31, 255,657 shares were traded during trading. A decline of 5% from the average session volume of 268,468 shares. The stock had previously closed at $44.61.

A number of equities research analysts have weighed in on the stock. ValuEngine upgraded shares of US Concrete from a “buy” rating to a “strong-buy” rating in a research note on Monday. BidaskClub lowered US Concrete from a “buy” rating to a “hold” rating in a research note on Thursday, June 13th. Stifel Nicolaus lowered US Concrete from a “buy” rating to a “hold” rating and upped their price objective for the stock from $51.00 to $53.00 in a research note on Thursday, July 18th. Zacks Investment Research restated a “sell” rating on shares of US Concrete in a research note on Saturday, July 27th. Finally, SunTrust Banks lowered US Concrete from a “positive” rating to a “hold” rating and set a $43.00 price objective for the company. in a research note on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. US Concrete currently has a consensus rating of “Buy” and an average target price of $54.60.

The company has a debt-to-equity ratio of 2.21, a current ratio of 1.25 and a quick ratio of 1.06. The company has a market cap of $747.24 million, a PE ratio of 24.51, a PEG ratio of 1.68 and a beta of 1.22. The firm has a 50 day simple moving average of $48.12.

US Concrete (NASDAQ:USCR) last posted its quarterly earnings data on Friday, August 9th. The construction company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.62). The company had revenue of $367.50 million during the quarter, compared to analysts’ expectations of $408.18 million. US Concrete had a return on equity of 3.06% and a net margin of 1.06%. The company’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter last year, the company earned $1.08 earnings per share. Analysts anticipate that US Concrete Inc will post 2.69 earnings per share for the current fiscal year.

In other news, COO Ronnie A. Pruitt sold 4,563 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $46.26, for a total value of $211,084.38. Following the completion of the sale, the chief operating officer now directly owns 21,310 shares in the company, valued at approximately $985,800.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Paul M. Jolas sold 5,053 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $46.47, for a total value of $234,812.91. Following the completion of the sale, the senior vice president now owns 18,781 shares of the company’s stock, valued at $872,753.07. The disclosure for this sale can be found here. Insiders sold a total of 12,348 shares of company stock valued at $575,618 over the last 90 days. 4.70% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of the stock. Texas Permanent School Fund boosted its holdings in US Concrete by 2.7% in the 1st quarter. Texas Permanent School Fund now owns 10,738 shares of the construction company’s stock worth $445,000 after buying an additional 282 shares during the period. Advisory Services Network LLC boosted its holdings in US Concrete by 15.0% in the 2nd quarter. Advisory Services Network LLC now owns 2,873 shares of the construction company’s stock worth $142,000 after buying an additional 375 shares during the period. Comerica Bank boosted its holdings in US Concrete by 2.8% in the 1st quarter. Comerica Bank now owns 16,073 shares of the construction company’s stock worth $705,000 after buying an additional 434 shares during the period. Steward Partners Investment Advisory LLC bought a new position in US Concrete in the 2nd quarter worth $29,000. Finally, John G Ullman & Associates Inc. boosted its holdings in US Concrete by 9.7% in the 2nd quarter. John G Ullman & Associates Inc. now owns 6,800 shares of the construction company’s stock worth $338,000 after buying an additional 600 shares during the period. 94.92% of the stock is owned by institutional investors.

About US Concrete (NASDAQ:USCR)

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, U.S. Virgin Islands, and Canada. It operates through two segments, Ready-Mixed Concrete and Aggregate Products.

Recommended Story: What is the market perform rating?

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.