U S Concrete, Inc. (USCR) Downgraded to Hold at ValuEngine
U S Concrete, Inc. (NASDAQ:USCR) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.
A number of other research analysts have also recently weighed in on the stock. Citigroup Inc. raised their price objective on shares of U S Concrete to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Zacks Investment Research raised U S Concrete from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a research note on Tuesday, August 15th. BidaskClub lowered U S Concrete from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $98.00 target price on shares of U S Concrete in a report on Thursday. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $89.00.
U S Concrete (NASDAQ USCR) traded down 2.49% during mid-day trading on Monday, reaching $74.40. 604,338 shares of the company’s stock were exchanged. U S Concrete has a 1-year low of $42.82 and a 1-year high of $83.85. The stock has a market capitalization of $1.19 billion, a PE ratio of 42.03 and a beta of 1.21. The firm’s 50-day moving average is $75.53 and its 200 day moving average is $71.75.
U S Concrete (NASDAQ:USCR) last announced its quarterly earnings results on Tuesday, August 8th. The construction company reported $0.95 earnings per share (EPS) for the quarter, beating the 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 the consensus estimate of $342.60 million. During the same quarter in the prior year, the firm earned $0.54 earnings per share. The company’s revenue for the quarter was up 23.6% compared to the same quarter last year. Analysts forecast that U S Concrete will post $3.91 earnings per share for the current fiscal year.
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In other news, VP David Andrew Behring sold 361 shares of U S Concrete stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $81.56, for a total transaction of $29,443.16. Following the completion of the sale, the vice president now directly owns 10,804 shares in the company, valued at $881,174.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William J. Sandbrook sold 6,500 shares of U S Concrete stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $75.80, for a total transaction of $492,700.00. Following the sale, the chief executive officer now owns 412,091 shares of the company’s stock, valued at $31,236,497.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,611 shares of company stock worth $1,115,093. 5.90% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. boosted its position in U S Concrete by 15.3% during the second quarter. Ameritas Investment Partners Inc. now owns 1,337 shares of the construction company’s stock worth $105,000 after acquiring an additional 177 shares during the last quarter. Crow Point Partners LLC acquired a new position in U S Concrete in the 2nd quarter valued at $147,000. Pinebridge Investments L.P. raised its holdings in U S Concrete by 2.8% in the 2nd quarter. Pinebridge Investments L.P. now owns 1,961 shares of the construction company’s stock valued at $154,000 after acquiring an additional 53 shares during the last quarter. First Mercantile Trust Co. acquired a new position in U S Concrete in the 2nd quarter valued at $196,000. Finally, Municipal Employees Retirement System of Michigan raised its holdings in U S Concrete by 2.2% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 3,250 shares of the construction company’s stock valued at $210,000 after acquiring an additional 70 shares during 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.
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