Zacks Investment Research downgraded shares of US Concrete Inc (NASDAQ:USCR) from a buy rating to a hold rating in a report released on Wednesday morning.
According to Zacks, “U.S. Concrete Inc. operates as a provider of ready-mixed concrete and concrete-related products and services to the construction industry in the United States. The Company operates in two segments: ready-mixed concrete and concrete-related products; and precast concrete. The Company’s ready-mixed concrete and concrete-related products segment produces and sells ready-mixed concrete, aggregates (crushed stone, sand and gravel), concrete masonry and building materials. Its precast concrete products segment produces and sells precast concrete products. Markets served by the Company include west Texas, northern California, New Jersey, New York, Washington, D.C., Oklahoma and the mid-Atlantic region. U.S. Concrete Inc. is based in Houston, Texas, USA. “
Several other analysts have also issued reports on USCR. TheStreet lowered shares of US Concrete from a b+ rating to a c+ rating in a report on Tuesday, March 14th. BidaskClub upgraded shares of US Concrete from a hold rating to a buy rating in a report on Friday, June 9th. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. US Concrete currently has a consensus rating of Buy and an average price target of $78.00.
US Concrete (USCR) opened at 78.95 on Wednesday. The firm’s 50-day moving average is $70.67 and its 200-day moving average is $66.13. US Concrete has a 52-week low of $42.82 and a 52-week high of $80.45. The company has a market cap of $1.22 billion, a PE ratio of 50.71 and a beta of 1.24.
US Concrete (NASDAQ:USCR) last posted its quarterly earnings results on Thursday, May 4th. The construction company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.11 by $0.44. US Concrete had a return on equity of 14.20% and a net margin of 2.34%. The business had revenue of $299.10 million for the quarter, compared to analyst estimates of $274.88 million. During the same quarter in the previous year, the firm earned $0.31 EPS. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. On average, equities research analysts anticipate that US Concrete will post $3.82 EPS for the current year.
ILLEGAL ACTIVITY NOTICE: This report was first published by WKRB News and is the property of of WKRB News. If you are viewing this report on another domain, it was illegally copied and reposted in violation of United States & international copyright legislation. The legal version of this report can be viewed at https://www.wkrb13.com/markets/2284681/us-concrete-inc-uscr-cut-to-hold-at-zacks-investment-research.html.
In related news, CEO William J. Sandbrook sold 6,500 shares of the business’s stock in a transaction dated Wednesday, April 26th. The shares were sold at an average price of $63.21, for a total value of $410,865.00. Following the sale, the chief executive officer now directly owns 443,892 shares in the company, valued at approximately $28,058,413.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Jeffrey W. Roberts sold 2,394 shares of the business’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $68.00, for a total transaction of $162,792.00. Following the completion of the sale, the vice president now owns 34,422 shares in the company, valued at $2,340,696. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,094 shares of company stock worth $1,615,133. 5.90% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue raised its stake in shares of US Concrete by 5.2% in the first quarter. State of Alaska Department of Revenue now owns 1,610 shares of the construction company’s stock valued at $103,000 after buying an additional 80 shares during the period. Dubuque Bank & Trust Co. bought a new stake in shares of US Concrete during the first quarter valued at about $168,000. Municipal Employees Retirement System of Michigan raised its stake in shares of US Concrete by 2.2% in the first quarter. Municipal Employees Retirement System of Michigan now owns 3,250 shares of the construction company’s stock valued at $210,000 after buying an additional 70 shares during the period. Edmond DE Rothschild Holding S.A. bought a new stake in shares of US Concrete during the first quarter valued at about $213,000. Finally, Mason Street Advisors LLC raised its stake in shares of US Concrete by 10.1% in the first quarter. Mason Street Advisors LLC now owns 3,421 shares of the construction company’s stock valued at $221,000 after buying an additional 315 shares during the period.
US Concrete Company Profile
U.S. Concrete, Inc is a producer of ready-mixed concrete in select geographic markets in the United States. The Company conducts its operations through two business segments: ready-mixed concrete and aggregate products. The ready-mixed concrete segment engages principally in the formulation, production and delivery of ready-mixed concrete to its customers’ job sites.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This story was originally published by WKRB News (https://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://www.wkrb13.com/markets/2284681/us-concrete-inc-uscr-cut-to-hold-at-zacks-investment-research.html
Receive News & Ratings for US Concrete Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for US Concrete Inc and related companies with MarketBeat.com's FREE daily email newsletter.