U S Concrete, Inc. (USCR) Raised to “Buy” at ValuEngine
ValuEngine upgraded shares of U S Concrete, Inc. (NASDAQ:USCR) from a hold rating to a buy rating in a research report released on Friday.
A number of other brokerages also recently commented on USCR. Zacks Investment Research downgraded U S Concrete from a buy rating to a hold rating in a research note on Wednesday, July 5th. Citigroup Inc. upped their price objective on U S Concrete to $92.00 and gave the stock a buy rating in a research note on Wednesday, August 9th. BidaskClub downgraded U S Concrete from a buy rating to a hold rating in a research note on Wednesday, August 2nd. Finally, TheStreet upgraded U S Concrete from a c+ rating to a b rating in a research note on Thursday, May 4th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $83.50.
U S Concrete (NASDAQ:USCR) opened at 83.25 on Friday. The company has a 50-day moving average of $77.24 and a 200-day moving average of $70.34. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 52.76 and a beta of 1.22. U S Concrete has a 52-week low of $42.82 and a 52-week high of $83.40.
U S Concrete (NASDAQ:USCR) last issued its quarterly earnings data on Tuesday, August 8th. The construction company reported $0.95 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.09. The firm had revenue of $340.90 million during the quarter, compared to the consensus estimate of $342.60 million. U S Concrete had a return on equity of 25.80% and a net margin of 2.09%. The firm’s revenue was up 23.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.54 EPS. Equities research analysts expect that U S Concrete will post $3.99 EPS for the current year.
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In related news, CEO William J. Sandbrook sold 6,500 shares of the company’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $76.27, for a total transaction of $495,755.00. Following the completion of the transaction, the chief executive officer now directly owns 425,345 shares in the company, valued at approximately $32,441,063.15. The sale was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders have sold 20,950 shares of company stock valued at $1,611,656. 5.90% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in the company. Mesirow Financial Investment Management Inc. bought a new position in shares of U S Concrete in the second quarter worth $582,000. WINTON GROUP Ltd bought a new position in shares of U S Concrete in the second quarter worth $950,000. Piedmont Investment Advisors LLC bought a new position in shares of U S Concrete in the second quarter worth $253,000. Ameritas Investment Partners Inc. grew its stake in shares of U S Concrete by 15.3% in the second quarter. Ameritas Investment Partners Inc. now owns 1,337 shares of the construction company’s stock worth $105,000 after purchasing an additional 177 shares in the last quarter. Finally, Argent Capital Management LLC grew its stake in shares of U S Concrete by 91.0% in the second quarter. Argent Capital Management LLC now owns 30,275 shares of the construction company’s stock worth $2,378,000 after purchasing an additional 14,425 shares in the last quarter.
About U S Concrete
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.
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