ValuEngine Lowers U S Concrete, Inc. (USCR) to Hold
ValuEngine lowered shares of U S Concrete, Inc. (NASDAQ:USCR) from a buy rating to a hold rating in a research note issued to investors on Monday morning.
USCR has been the topic of a number of other reports. Zacks Investment Research raised shares of U S Concrete from a hold rating to a buy rating and set a $86.00 price objective on the stock in a research note on Tuesday, August 15th. BidaskClub lowered shares of U S Concrete from a buy rating to a hold rating in a research note on Wednesday, August 2nd. Stifel Nicolaus reaffirmed a buy rating and issued a $98.00 price objective on shares of U S Concrete in a research note on Thursday, September 28th. Finally, Citigroup Inc. upped their price objective on shares of U S Concrete to $92.00 and gave the company a buy rating in a research note on Wednesday, August 9th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. U S Concrete has an average rating of Buy and an average target price of $89.00.
Shares of U S Concrete (NASDAQ USCR) opened at 76.60 on Monday. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 48.54 and a beta of 1.21. The firm has a 50-day moving average of $75.53 and a 200 day moving average of $71.82. U S Concrete has a 12-month low of $44.10 and a 12-month high of $83.85.
U S Concrete (NASDAQ:USCR) last posted its quarterly earnings data on Tuesday, August 8th. The construction company reported $0.95 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.09. U S Concrete had a net margin of 2.09% and a return on equity of 25.80%. The company had revenue of $340.90 million for the quarter, compared to analyst estimates of $342.60 million. During the same period in the prior year, the firm posted $0.54 EPS. The company’s quarterly revenue was up 23.6% on a year-over-year basis. On average, equities research analysts expect that U S Concrete will post $3.89 earnings per share for the current year.
COPYRIGHT VIOLATION NOTICE: This story was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this story on another publication, it was illegally copied and reposted in violation of international trademark and copyright law. The legal version of this story can be viewed at https://www.thecerbatgem.com/2017/10/05/valuengine-lowers-u-s-concrete-inc-uscr-to-hold.html.
In related news, CEO William J. Sandbrook sold 6,500 shares of the stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $75.80, for a total transaction of $492,700.00. Following the transaction, the chief executive officer now directly owns 412,091 shares of the company’s stock, valued at $31,236,497.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP David Andrew Behring sold 361 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $81.56, for a total transaction of $29,443.16. Following the transaction, the vice president now directly owns 10,804 shares in the company, valued at $881,174.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,561 shares of company stock worth $1,110,748. 5.90% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Group LLC bought a new position in U S Concrete during the second quarter worth $400,000. Bank of New York Mellon Corp boosted its stake in U S Concrete by 34.5% during the second quarter. Bank of New York Mellon Corp now owns 903,180 shares of the construction company’s stock worth $70,945,000 after acquiring an additional 231,798 shares in the last quarter. American Century Companies Inc. bought a new position in U S Concrete during the second quarter worth $2,994,000. AGF Investments Inc. boosted its stake in U S Concrete by 8.5% during the second quarter. AGF Investments Inc. now owns 122,451 shares of the construction company’s stock worth $9,624,000 after acquiring an additional 9,602 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in U S Concrete by 3.8% during the first quarter. Dimensional Fund Advisors LP now owns 552,043 shares of the construction company’s stock worth $35,634,000 after acquiring an additional 20,254 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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.