A number of other equities research analysts also recently weighed in on the stock. ValuEngine downgraded shares of U.S. Concrete from a sell rating to a strong sell rating in a report on Thursday. Zacks Investment Research downgraded shares of U.S. Concrete from a hold rating to a sell rating in a report on Thursday, May 3rd. Stifel Nicolaus cut their price target on shares of U.S. Concrete from $88.00 to $84.00 and set a buy rating for the company in a report on Tuesday, May 1st. BidaskClub downgraded shares of U.S. Concrete from a sell rating to a strong sell rating in a report on Tuesday, April 24th. Finally, Stephens reissued a buy rating and issued a $78.00 price target on shares of U.S. Concrete in a report on Friday, April 13th. Three investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. U.S. Concrete presently has a consensus rating of Hold and an average target price of $87.20.
Shares of U.S. Concrete opened at $55.95 on Friday, according to Marketbeat Ratings. U.S. Concrete has a twelve month low of $53.30 and a twelve month high of $86.35. The company has a debt-to-equity ratio of 2.44, a current ratio of 1.44 and a quick ratio of 1.23. The stock has a market capitalization of $941.14 million, a price-to-earnings ratio of 25.09, a price-to-earnings-growth ratio of 1.25 and a beta of 0.95.
U.S. Concrete (NASDAQ:USCR) last issued its quarterly earnings results on Monday, April 30th. The construction company reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.29). U.S. Concrete had a net margin of 1.08% and a return on equity of 13.63%. The business had revenue of $327.80 million during the quarter, compared to analyst estimates of $321.14 million. During the same period in the previous year, the company posted $0.55 earnings per share. U.S. Concrete’s revenue was up 9.6% compared to the same quarter last year. equities research analysts forecast that U.S. Concrete will post 4.48 EPS for the current year.
In other U.S. Concrete news, Vice Chairman William J. Sandbrook sold 9,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $75.52, for a total transaction of $679,680.00. Following the sale, the insider now owns 414,256 shares in the company, valued at approximately $31,284,613.12. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Ronnie A. Pruitt sold 500 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $73.50, for a total value of $36,750.00. Following the sale, the chief operating officer now owns 17,156 shares in the company, valued at approximately $1,260,966. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,890 shares of company stock worth $1,885,924. Corporate insiders own 5.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in U.S. Concrete by 3.4% during the 1st quarter. BlackRock Inc. now owns 2,016,771 shares of the construction company’s stock worth $121,812,000 after buying an additional 66,858 shares during the period. Bank of New York Mellon Corp raised its holdings in U.S. Concrete by 18.6% during the 4th quarter. Bank of New York Mellon Corp now owns 1,104,295 shares of the construction company’s stock worth $92,373,000 after buying an additional 173,567 shares during the period. Dimensional Fund Advisors LP raised its holdings in U.S. Concrete by 3.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 588,152 shares of the construction company’s stock worth $35,524,000 after buying an additional 19,337 shares during the period. Victory Capital Management Inc. raised its holdings in U.S. Concrete by 52.4% during the 4th quarter. Victory Capital Management Inc. now owns 578,200 shares of the construction company’s stock worth $48,366,000 after buying an additional 198,680 shares during the period. Finally, Tocqueville Asset Management L.P. increased its holdings in shares of U.S. Concrete by 18.2% in the 4th quarter. Tocqueville Asset Management L.P. now owns 567,015 shares of the construction company’s stock valued at $47,431,000 after purchasing an additional 87,150 shares during the period.
U.S. Concrete Company Profile
U.S. Concrete, Inc, through its subsidiaries, produces and sells ready-mixed concrete, aggregates, and concrete-related products and services to the construction industry in the United States and Canada. It operates through two segments, Ready-Mixed Concrete and Aggregate Products. The Ready-Mixed Concrete segment engages in the formulation, preparation, and delivery of ready-mixed concrete to customers' job sites; and the provision of various services that include the formulation of mixtures for specific design uses, on-site and lab-based product quality control, and customized delivery programs.
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