US Concrete (USCR) Lowered to Hold at SunTrust Banks
SunTrust Banks cut shares of US Concrete (NASDAQ:USCR) from a positive rating to a hold rating in a research note released on Wednesday morning, The Fly reports. They currently have $43.00 price target on the construction company’s stock.
A number of other research analysts have also recently issued reports on the stock. BidaskClub cut shares of US Concrete from a strong-buy rating to a buy rating in a research note on Friday, May 3rd. ValuEngine raised shares of US Concrete from a sell rating to a hold rating in a research note on Tuesday, March 5th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. US Concrete presently has a consensus rating of Buy and a consensus target price of $55.33.
Shares of NASDAQ:USCR traded down $0.30 on Wednesday, reaching $48.55. The company had a trading volume of 1,267 shares, compared to its average volume of 298,341. US Concrete has a twelve month low of $27.68 and a twelve month high of $65.85. The stock has a market capitalization of $811.84 million, a P/E ratio of 25.29, a P/E/G ratio of 1.76 and a beta of 1.29. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.25 and a quick ratio of 1.06.
In other US Concrete news, VP Jeffrey W. Roberts sold 3,800 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $41.03, for a total value of $155,914.00. Following the sale, the vice president now owns 16,511 shares in the company, valued at $677,446.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Niel L. Poulsen sold 5,782 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $42.87, for a total transaction of $247,874.34. Following the completion of the sale, the executive vice president now owns 9,575 shares in the company, valued at approximately $410,480.25. The disclosure for this sale can be found here. Insiders sold 15,432 shares of company stock worth $643,221 over the last three months. 4.70% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the business. ACK Asset Management LLC acquired a new position in US Concrete in the first quarter valued at $10,618,000. Millennium Management LLC increased its stake in US Concrete by 113.3% in the fourth quarter. Millennium Management LLC now owns 393,802 shares of the construction company’s stock valued at $13,893,000 after purchasing an additional 209,199 shares in the last quarter. Monarch Partners Asset Management LLC increased its stake in US Concrete by 2,271.1% in the fourth quarter. Monarch Partners Asset Management LLC now owns 215,300 shares of the construction company’s stock valued at $7,596,000 after purchasing an additional 206,220 shares in the last quarter. Shellback Capital LP bought a new stake in US Concrete in the fourth quarter valued at $5,620,000. Finally, Dimensional Fund Advisors LP increased its stake in US Concrete by 21.0% in the first quarter. Dimensional Fund Advisors LP now owns 874,420 shares of the construction company’s stock valued at $36,218,000 after purchasing an additional 151,616 shares in the last quarter. Hedge funds and other institutional investors own 98.51% of the company’s stock.
About US Concrete
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, U.S. Virgin Islands, and Canada. It operates through two segments, Ready-Mixed Concrete and Aggregate Products.
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