U.S. Concrete Inc. (USCR) Given Average Rating of “Buy” by Brokerages
U.S. Concrete Inc. (NASDAQ:USCR) has been assigned a consensus rating of “Buy” from the eight analysts that are covering the stock. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $79.00.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research raised U.S. Concrete from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a research note on Wednesday, July 13th. SunTrust Banks Inc. assumed coverage on U.S. Concrete in a research note on Monday, August 8th. They set a “buy” rating and a $75.00 price target for the company. Finally, DA Davidson set a $80.00 price target on U.S. Concrete and gave the stock a “buy” rating in a research note on Thursday, October 6th.
U.S. Concrete (NASDAQ:USCR) traded down 0.04% during trading on Tuesday, hitting $49.58. 176,173 shares of the stock traded hands. The stock’s market cap is $739.73 million. The firm’s 50-day moving average is $48.76 and its 200-day moving average is $58.56. 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 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.95 by $0.41. U.S. Concrete had a return on equity of 40.33% and a net margin of 1.18%. The firm had revenue of $275.80 million for the quarter, compared to analysts’ expectations of $297.94 million. The firm’s revenue was up 12.7% on a year-over-year basis. On average, analysts forecast that U.S. Concrete will post $2.99 EPS for the current year.
In other U.S. Concrete news, CEO William J. Sandbrook sold 6,500 shares of the firm’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 value of $429,455.00. Following the sale, the chief executive officer now owns 509,867 shares of the company’s stock, valued at approximately $33,686,912.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Niel L. Poulsen bought 18,000 shares of the stock in a transaction on Monday, August 8th. The stock was acquired at an average cost of $56.00 per share, for a total transaction of $1,008,000.00. Following the acquisition, the executive vice president now directly owns 41,481 shares in the company, valued at $2,322,936. The disclosure for this purchase can be found here. 6.90% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Fund Advisors raised its stake in U.S. Concrete by 127.5% in the first quarter. BlackRock Fund Advisors now owns 897,377 shares of the company’s stock worth $53,466,000 after buying an additional 502,993 shares during the period. Bowen Hanes & Co. Inc. acquired a new stake in U.S. Concrete during the second quarter worth about $15,532,000. GM Advisory Group Inc. acquired a new stake in U.S. Concrete during the second quarter worth about $13,421,000. Kornitzer Capital Management Inc. KS acquired a new stake in U.S. Concrete during the second quarter worth about $10,457,000. Finally, Eaton Vance Management acquired a new stake in U.S. Concrete during the second quarter worth about $8,918,000. 98.09% of the stock is currently 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.
Receive News & Stock Ratings for U.S. Concrete Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for U.S. Concrete Inc. and related stocks with our FREE daily email newsletter.