U S Concrete, Inc. (NASDAQ:USCR) Downgraded by BidaskClub
BidaskClub downgraded shares of U S Concrete, Inc. (NASDAQ:USCR) from a strong-buy rating to a buy rating in a research note issued to investors on Tuesday.
Other equities research analysts also recently issued research reports about the company. Zacks Investment Research downgraded U S Concrete from a buy rating to a hold rating in a research report on Wednesday, July 5th. TheStreet upgraded U S Concrete from a c+ rating to a b rating in a research note on Thursday, May 4th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. U S Concrete currently has a consensus rating of Buy and an average price target of $78.00.
Shares of U S Concrete (USCR) traded up 1.83% during trading on Tuesday, reaching $77.90. The company’s stock had a trading volume of 186,447 shares. U S Concrete has a 12-month low of $42.82 and a 12-month high of $80.45. The stock has a market capitalization of $1.21 billion, a PE ratio of 50.03 and a beta of 1.24. The firm’s 50-day moving average is $76.40 and its 200-day moving average is $68.06.
U S Concrete (NASDAQ:USCR) last issued its quarterly earnings data on Thursday, May 4th. The construction company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.44. U S Concrete had a return on equity of 24.23% and a net margin of 2.11%. The company had revenue of $299.10 million for the quarter, compared to the consensus estimate of $274.88 million. During the same quarter last year, the company earned $0.31 earnings per share. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. Equities analysts expect that U S Concrete will post $3.84 earnings per share for the current year.
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In other U S Concrete news, CEO William J. Sandbrook sold 6,500 shares of the stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $68.08, for a total value of $442,520.00. Following the completion of the sale, the chief executive officer now directly owns 438,617 shares in the company, valued at $29,861,045.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Jeffrey W. Roberts sold 2,394 shares of the stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $68.00, for a total value of $162,792.00. Following the completion of the sale, the vice president now owns 34,422 shares of the company’s stock, valued at $2,340,696. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,844 shares of company stock valued at $1,684,473. 5.90% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in U S Concrete by 155,863.7% in the first quarter. BlackRock Inc. now owns 1,740,555 shares of the construction company’s stock worth $112,353,000 after buying an additional 1,739,439 shares during the period. ACK Asset Management LLC acquired a new stake in U S Concrete during the first quarter worth approximately $16,053,000. Scopus Asset Management L.P. boosted its stake in U S Concrete by 1,018.2% in the first quarter. Scopus Asset Management L.P. now owns 264,590 shares of the construction company’s stock worth $17,079,000 after buying an additional 240,928 shares during the period. SG Capital Management LLC acquired a new stake in U S Concrete during the second quarter worth approximately $17,067,000. Finally, Russell Investments Group Ltd. boosted its stake in U S Concrete by 113.3% in the second quarter. Russell Investments Group Ltd. now owns 371,742 shares of the construction company’s stock worth $29,201,000 after buying an additional 197,428 shares during the period.
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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