U.S. Concrete Inc. (USCR) Rating Lowered to Sell at Zacks Investment Research
U.S. Concrete Inc. (NASDAQ:USCR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
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. “
USCR has been the subject of several other reports. SunTrust Banks Inc. assumed coverage on shares of U.S. Concrete in a report on Monday, August 8th. They issued a “buy” rating and a $75.00 price target for the company. DA Davidson set a $80.00 price target on shares of U.S. Concrete and gave the company a “buy” rating in a report on Thursday, October 6th. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $77.83.
U.S. Concrete (NASDAQ:USCR) opened at 48.03 on Wednesday. The stock’s market cap is $716.61 million. The company has a 50-day moving average price of $49.56 and a 200 day moving average price of $58.90. U.S. Concrete has a 12-month low of $40.42 and a 12-month high of $69.66.
U.S. Concrete (NASDAQ:USCR) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.54 EPS for the quarter, missing the Thomson Reuters’ 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 business earned $275.80 million during the quarter, compared to analyst estimates of $297.94 million. The firm’s revenue was up 12.7% on a year-over-year basis. On average, equities research analysts predict that U.S. Concrete will post $2.99 EPS for the current year.
In related news, EVP Niel L. Poulsen purchased 18,000 shares of U.S. Concrete stock in a transaction dated Monday, August 8th. The stock was bought at an average cost of $56.00 per share, with a total value of $1,008,000.00. Following the purchase, the executive vice president now owns 41,481 shares in the company, valued at approximately $2,322,936. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO William J. Sandbrook sold 6,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $66.07, for a total transaction of $429,455.00. Following the completion of the sale, 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. Company insiders own 6.90% of the company’s stock.
Hedge funds have recently modified their holdings of the company. PineBridge Investments L.P. raised its stake in shares of U.S. Concrete by 1.6% in the second quarter. PineBridge Investments L.P. now owns 1,716 shares of the company’s stock worth $105,000 after buying an additional 27 shares in the last quarter. US Bancorp DE raised its stake in shares of U.S. Concrete by 0.3% in the second quarter. US Bancorp DE now owns 25,026 shares of the company’s stock worth $1,524,000 after buying an additional 83 shares in the last quarter. First American Bank raised its stake in shares of U.S. Concrete by 1.6% in the third quarter. First American Bank now owns 5,780 shares of the company’s stock worth $266,000 after buying an additional 90 shares in the last quarter. Arizona State Retirement System raised its stake in shares of U.S. Concrete by 1.4% in the second quarter. Arizona State Retirement System now owns 7,200 shares of the company’s stock worth $439,000 after buying an additional 100 shares in the last quarter. Finally, BlackRock Advisors LLC raised its stake in shares of U.S. Concrete by 1.6% in the second quarter. BlackRock Advisors LLC now owns 6,913 shares of the company’s stock worth $421,000 after buying an additional 110 shares in the last quarter. 98.09% of the stock is owned by institutional investors.
U.S. Concrete Company Profile
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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