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.
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
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.