US Concrete Inc (NASDAQ:USCR) Sees Significant Increase in Short Interest

US Concrete Inc (NASDAQ:USCR) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 1,840,000 shares, a growth of 6.4% from the December 15th total of 1,730,000 shares. Currently, 12.6% of the company’s stock are sold short. Based on an average trading volume of 241,500 shares, the short-interest ratio is currently 7.6 days.

USCR stock opened at $40.36 on Wednesday. The stock has a market capitalization of $673.97 million, a PE ratio of 20.91 and a beta of 1.22. US Concrete has a 12-month low of $33.00 and a 12-month high of $56.22. The company has a current ratio of 1.32, a quick ratio of 1.12 and a debt-to-equity ratio of 2.00. The stock’s 50 day simple moving average is $40.75 and its 200 day simple moving average is $45.88.

US Concrete (NASDAQ:USCR) last released its quarterly earnings data on Friday, November 8th. The construction company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.09 by $0.13. The company had revenue of $408.90 million during the quarter, compared to the consensus estimate of $435.92 million. US Concrete had a return on equity of 3.91% and a net margin of 0.88%. US Concrete’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period last year, the company earned $0.72 EPS. On average, research analysts predict that US Concrete will post 1.76 earnings per share for the current year.

In other US Concrete news, Director Kurt Matthew Cellar purchased 13,600 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was bought at an average cost of $39.83 per share, with a total value of $541,688.00. Following the transaction, the director now directly owns 62,346 shares in the company, valued at approximately $2,483,241.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Theodore P. Rossi acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were acquired at an average cost of $40.97 per share, for a total transaction of $204,850.00. Following the purchase, the director now directly owns 88,581 shares of the company’s stock, valued at $3,629,163.57. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 28,057 shares of company stock worth $1,125,196 and have sold 750 shares worth $33,903. 4.70% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. bought a new position in US Concrete in the third quarter valued at about $58,000. Bank of Montreal Can increased its position in shares of US Concrete by 1,359.1% during the 2nd quarter. Bank of Montreal Can now owns 1,605 shares of the construction company’s stock valued at $80,000 after purchasing an additional 1,495 shares during the last quarter. Usca Ria LLC purchased a new stake in shares of US Concrete during the 3rd quarter valued at about $97,000. SG Americas Securities LLC bought a new position in shares of US Concrete in the 3rd quarter worth approximately $105,000. Finally, FNY Investment Advisers LLC bought a new position in shares of US Concrete in the 3rd quarter worth approximately $182,000. Institutional investors own 97.98% of the company’s stock.

A number of research analysts have issued reports on the company. DA Davidson lowered their price objective on US Concrete to $56.00 and set a “buy” rating for the company in a research note on Monday, November 11th. Exane BNP Paribas initiated coverage on US Concrete in a report on Wednesday, October 9th. They set an “outperform” rating for the company. Zacks Investment Research lowered US Concrete from a “buy” rating to a “strong sell” rating in a research report on Saturday. Sidoti lifted their price target on US Concrete from $56.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, BNP Paribas initiated coverage on shares of US Concrete in a research note on Wednesday, October 9th. They issued an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $52.17.

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

Further Reading: Cash Flow

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