BidaskClub Downgrades US Concrete (USCR) to Strong Sell

US Concrete (NASDAQ:USCR) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Saturday.

A number of other research analysts have also issued reports on USCR. ValuEngine lowered US Concrete from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 26th. Citigroup decreased their target price on US Concrete from $77.00 to $74.00 and set a “$53.95” rating on the stock in a research report on Monday, July 23rd. Finally, SunTrust Banks set a $70.00 target price on US Concrete and gave the company a “buy” rating in a research report on Monday, August 6th. Three analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. US Concrete presently has a consensus rating of “Hold” and an average target price of $81.33.

Shares of NASDAQ:USCR opened at $41.00 on Friday. US Concrete has a 1 year low of $40.94 and a 1 year high of $86.35. The company has a market cap of $771.10 million, a PE ratio of 15.13, a price-to-earnings-growth ratio of 1.26 and a beta of 1.06. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.21 and a current ratio of 1.41.

US Concrete (NASDAQ:USCR) last announced its earnings results on Tuesday, August 7th. The construction company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.21). US Concrete had a net margin of 2.34% and a return on equity of 12.82%. The business had revenue of $404.20 million for the quarter, compared to analysts’ expectations of $390.55 million. During the same quarter last year, the business earned $0.95 EPS. The company’s quarterly revenue was up 18.6% on a year-over-year basis. Sell-side analysts expect that US Concrete will post 3.63 EPS for the current fiscal year.

In other news, Chairman William J. Sandbrook sold 9,000 shares of the stock in a transaction that occurred on Thursday, July 26th. The stock was sold at an average price of $51.45, for a total transaction of $463,050.00. Following the transaction, the chairman now owns 390,670 shares in the company, valued at approximately $20,099,971.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kurt Matthew Cellar acquired 2,000 shares of the firm’s stock in a transaction on Tuesday, September 4th. The stock was purchased at an average price of $48.30 per share, for a total transaction of $96,600.00. Following the acquisition, the director now directly owns 45,309 shares in the company, valued at approximately $2,188,424.70. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 8,650 shares of company stock worth $424,178 and have sold 9,390 shares worth $482,778. Company insiders own 5.30% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Barclays PLC lifted its holdings in US Concrete by 9.5% in the 1st quarter. Barclays PLC now owns 13,021 shares of the construction company’s stock valued at $788,000 after purchasing an additional 1,134 shares in the last quarter. LPL Financial LLC lifted its holdings in US Concrete by 33.5% in the 1st quarter. LPL Financial LLC now owns 4,679 shares of the construction company’s stock valued at $283,000 after purchasing an additional 1,173 shares in the last quarter. Rhumbline Advisers lifted its holdings in US Concrete by 4.2% in the 2nd quarter. Rhumbline Advisers now owns 38,069 shares of the construction company’s stock valued at $1,999,000 after purchasing an additional 1,539 shares in the last quarter. Royal Bank of Canada lifted its holdings in US Concrete by 7.6% in the 1st quarter. Royal Bank of Canada now owns 24,994 shares of the construction company’s stock valued at $1,509,000 after purchasing an additional 1,771 shares in the last quarter. Finally, OppenheimerFunds Inc. lifted its holdings in US Concrete by 16.5% in the 1st quarter. OppenheimerFunds Inc. now owns 13,132 shares of the construction company’s stock valued at $793,000 after purchasing an additional 1,859 shares in the last quarter.

US 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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