U.S. Concrete (NASDAQ:USCR) Stock Price Down 5.8%


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U.S. Concrete, Inc. (NASDAQ:USCR)’s stock price was down 5.8% during mid-day trading on Tuesday . The company traded as low as $62.59 and last traded at $62.83. Approximately 4,369 shares changed hands during trading, a decline of 99% from the average daily volume of 390,734 shares. The stock had previously closed at $66.72.

A number of research analysts recently issued reports on USCR shares. DA Davidson increased their price objective on U.S. Concrete from $30.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, February 25th. Zacks Investment Research upgraded U.S. Concrete from a “hold” rating to a “strong-buy” rating and set a $63.00 price target for the company in a research note on Wednesday, March 3rd. Four equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $37.33.

The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 33.83 and a beta of 1.34. The company has a fifty day moving average of $61.60 and a two-hundred day moving average of $45.13. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.96 and a current ratio of 1.06.

U.S. Concrete (NASDAQ:USCR) last released its quarterly earnings results on Tuesday, February 23rd. The construction company reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.38) by $0.93. The business had revenue of $334.40 million during the quarter, compared to analysts’ expectations of $355.52 million. U.S. Concrete had a return on equity of 8.17% and a net margin of 2.21%. The firm’s revenue for the quarter was down 9.4% compared to the same quarter last year. During the same period last year, the firm posted $0.47 EPS. Equities analysts forecast that U.S. Concrete, Inc. will post 1.05 EPS for the current year.

In other U.S. Concrete news, VP Herbert A. Burton sold 500 shares of U.S. Concrete stock in a transaction on Wednesday, April 7th. The stock was sold at an average price of $65.60, for a total value of $32,800.00. Following the completion of the transaction, the vice president now directly owns 12,174 shares of the company’s stock, valued at approximately $798,614.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jeffrey W. Roberts sold 4,000 shares of U.S. Concrete stock in a transaction on Friday, March 12th. The shares were sold at an average price of $67.08, for a total value of $268,320.00. Following the completion of the transaction, the vice president now directly owns 23,618 shares of the company’s stock, valued at $1,584,295.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,100 shares of company stock valued at $333,436. 5.30% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. SummerHaven Investment Management LLC acquired a new position in U.S. Concrete in the 4th quarter valued at $680,000. AQR Capital Management LLC bought a new position in shares of U.S. Concrete in the 3rd quarter valued at $270,000. Pacer Advisors Inc. increased its stake in shares of U.S. Concrete by 29.7% in the 4th quarter. Pacer Advisors Inc. now owns 12,455 shares of the construction company’s stock valued at $498,000 after purchasing an additional 2,855 shares during the last quarter. Kestra Private Wealth Services LLC increased its stake in shares of U.S. Concrete by 5.3% in the 4th quarter. Kestra Private Wealth Services LLC now owns 17,850 shares of the construction company’s stock valued at $703,000 after purchasing an additional 900 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of U.S. Concrete by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 189,067 shares of the construction company’s stock valued at $5,491,000 after purchasing an additional 5,029 shares during the last quarter. 68.20% of the stock is owned by hedge funds and other institutional investors.

U.S. Concrete Company Profile (NASDAQ:USCR)

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, the U.S. Virgin Islands, and Canada. It operates through two segments, Ready-Mixed Concrete and Aggregate Products.

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