US Concrete (USCR) Given New $98.00 Price Target at DA Davidson
US Concrete (NASDAQ:USCR) had its price target lowered by DA Davidson to $98.00 in a report released on Friday morning, The Fly reports. The firm currently has a buy rating on the construction company’s stock.
A number of other equities analysts also recently commented on the stock. BidaskClub downgraded shares of US Concrete from a hold rating to a sell rating in a research note on Friday. Zacks Investment Research upgraded shares of US Concrete from a hold rating to a buy rating and set a $87.00 price objective for the company in a research note on Thursday, February 15th. Finally, ValuEngine downgraded shares of US Concrete from a buy rating to a hold rating in a research note on Friday, December 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. The company has a consensus rating of Buy and an average target price of $91.25.
US Concrete (USCR) traded down $0.35 during trading on Friday, hitting $69.40. 512,231 shares of the stock were exchanged, compared to its average volume of 350,718. US Concrete has a one year low of $58.75 and a one year high of $86.35. The company has a debt-to-equity ratio of 2.21, a quick ratio of 2.12 and a current ratio of 1.50. The firm has a market cap of $1,150.00, a P/E ratio of 44.49, a price-to-earnings-growth ratio of 1.37 and a beta of 1.02.
In related news, Director Colin Mcgill Sutherland sold 1,400 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $83.28, for a total value of $116,592.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Mark Baker Peabody sold 1,000 shares of the firm’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $77.40, for a total transaction of $77,400.00. Following the completion of the sale, the vice president now owns 25,263 shares of the company’s stock, valued at $1,955,356.20. The disclosure for this sale can be found here. Insiders sold a total of 64,860 shares of company stock valued at $5,280,579 over the last quarter. 5.90% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of USCR. Goldman Sachs Group Inc. lifted its stake in US Concrete by 448.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 480,659 shares of the construction company’s stock valued at $40,207,000 after purchasing an additional 392,972 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in US Concrete by 163.0% in the 3rd quarter. Point72 Asset Management L.P. now owns 532,742 shares of the construction company’s stock valued at $40,648,000 after purchasing an additional 330,177 shares during the last quarter. Victory Capital Management Inc. lifted its stake in US Concrete by 495.6% in the 3rd quarter. Victory Capital Management Inc. now owns 379,520 shares of the construction company’s stock valued at $28,958,000 after purchasing an additional 315,796 shares during the last quarter. Hood River Capital Management LLC lifted its stake in US Concrete by 4,650.5% in the 4th quarter. Hood River Capital Management LLC now owns 215,671 shares of the construction company’s stock valued at $18,041,000 after purchasing an additional 211,131 shares during the last quarter. Finally, Caxton Associates LP acquired a new stake in US Concrete in the 4th quarter valued at about $15,057,000.
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About US 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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