U.S. Concrete Inc. (USCR) Given a $80.00 Price Target at DA Davidson
Several other equities analysts also recently issued reports on the stock. SunTrust Banks Inc. began coverage on shares of U.S. Concrete in a research note on Monday, August 8th. They issued a buy rating and a $75.00 price objective for the company. Zacks Investment Research downgraded shares of U.S. Concrete from a buy rating to a hold rating in a research note on Tuesday, July 26th. Finally, Sidoti upgraded shares of U.S. Concrete from a neutral rating to a buy rating and upped their price objective for the company from $72.00 to $90.00 in a research note on Friday, June 10th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $77.83.
Shares of U.S. Concrete (NASDAQ:USCR) traded down 1.554% during trading on Thursday, hitting $45.935. The company had a trading volume of 522,644 shares. U.S. Concrete has a 52-week low of $40.42 and a 52-week high of $69.66. The stock’s 50-day moving average is $50.29 and its 200 day moving average is $59.22. The firm’s market capitalization is $685.35 million.
U.S. Concrete (NASDAQ:USCR) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by $0.41. U.S. Concrete had a net margin of 1.18% and a return on equity of 40.33%. The company earned $275.80 million during the quarter, compared to analyst estimates of $297.94 million. The business’s revenue was up 12.7% compared to the same quarter last year. Equities research analysts predict that U.S. Concrete will post $2.99 earnings per share for the current fiscal year.
In related news, VP Jeff L. Davis sold 6,000 shares of the stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $65.04, for a total transaction of $390,240.00. Following the completion of the transaction, the vice president now directly owns 29,130 shares of the company’s stock, valued at $1,894,615.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William J. Sandbrook sold 6,500 shares of the stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $66.07, for a total transaction of $429,455.00. Following the transaction, the chief executive officer now directly owns 509,867 shares of the company’s stock, valued at $33,686,912.69. The disclosure for this sale can be found here. Insiders own 6.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Fund Advisors boosted its position in U.S. Concrete by 127.5% in the first quarter. BlackRock Fund Advisors now owns 897,377 shares of the company’s stock valued at $53,466,000 after buying an additional 502,993 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of U.S. Concrete by 6.0% in the second quarter. Vanguard Group Inc. now owns 892,377 shares of the company’s stock worth $54,355,000 after buying an additional 50,600 shares during the period. Copper Rock Capital Partners LLC boosted its position in shares of U.S. Concrete by 31.3% in the third quarter. Copper Rock Capital Partners LLC now owns 541,878 shares of the company’s stock worth $25,073,000 after buying an additional 129,199 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of U.S. Concrete by 12.6% in the second quarter. Dimensional Fund Advisors LP now owns 541,498 shares of the company’s stock worth $32,982,000 after buying an additional 60,416 shares during the period. Finally, Glenmede Trust Co. NA boosted its position in shares of U.S. Concrete by 5.7% in the second quarter. Glenmede Trust Co. NA now owns 515,659 shares of the company’s stock worth $31,407,000 after buying an additional 27,745 shares during the period. 98.09% of the stock is owned by hedge funds and other institutional investors.
About U.S. Concrete
U.S. Concrete, Inc is a producer of ready-mixed concrete in a range of geographic markets in the United States. The Company conducts its operations through two segments. The ready-mixed concrete segment engages principally in the formulation, production and delivery of ready-mixed concrete to its customers’ job sites.
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