Analysts Set U.S. Concrete Inc. (USCR) Price Target at $79.00
U.S. Concrete Inc. (NASDAQ:USCR) has been assigned an average rating of “Buy” from the eight research firms that are covering the stock. One analyst has rated the stock with a sell rating and seven have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $79.00.
A number of equities research analysts have commented on the company. SunTrust Banks Inc. assumed coverage on U.S. Concrete in a report on Monday, August 8th. They issued a “buy” rating and a $75.00 target price for the company. Zacks Investment Research downgraded U.S. Concrete from a “hold” rating to a “sell” rating in a report on Wednesday, October 12th. Finally, DA Davidson set a $80.00 price target on U.S. Concrete and gave the company a “buy” rating in a research report on Thursday, October 6th.
U.S. Concrete (NASDAQ:USCR) opened at 61.10 on Tuesday. The firm has a market cap of $930.06 million, a PE ratio of 49.88 and a beta of 1.40. The firm has a 50-day moving average of $51.22 and a 200-day moving average of $56.36. U.S. Concrete has a 52-week low of $40.42 and a 52-week high of $69.66.
U.S. Concrete (NASDAQ:USCR) last released its earnings results on Thursday, November 3rd. The company reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.31 by $0.12. U.S. Concrete had a net margin of 4.41% and a return on equity of 27.73%. The business earned $328.60 million during the quarter, compared to analyst estimates of $338.65 million. During the same period last year, the business posted $1.97 EPS. U.S. Concrete’s revenue was up 11.4% compared to the same quarter last year. Equities analysts anticipate that U.S. Concrete will post $2.79 EPS for the current year.
In related news, CEO William J. Sandbrook sold 6,500 shares of U.S. Concrete stock in a transaction dated Wednesday, October 26th. The stock was sold at an average price of $49.05, for a total transaction of $318,825.00. Following the completion of the sale, the chief executive officer now owns 487,405 shares in the company, valued at approximately $23,907,215.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 6.90% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Copper Rock Capital Partners LLC boosted its stake in 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 valued at $25,073,000 after buying an additional 129,199 shares during the period. Cortina Asset Management LLC boosted its stake in U.S. Concrete by 21.2% in the second quarter. Cortina Asset Management LLC now owns 401,355 shares of the company’s stock valued at $24,447,000 after buying an additional 70,337 shares during the period. Kornitzer Capital Management Inc. KS acquired a new stake in U.S. Concrete during the second quarter valued at approximately $10,457,000. Columbus Circle Investors boosted its stake in U.S. Concrete by 14.6% in the second quarter. Columbus Circle Investors now owns 212,985 shares of the company’s stock valued at $12,973,000 after buying an additional 27,190 shares during the period. Finally, Nordea Investment Management AB acquired a new stake in U.S. Concrete during the second quarter valued at approximately $632,000. Hedge funds and other institutional investors own 98.09% of the company’s stock.
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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