Suncrete (NASDAQ:RMIX) Receives Consensus Rating of “Buy” from Brokerages

Suncrete (NASDAQ:RMIX) has received an average recommendation of “Buy” from the six brokerages that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $22.25.

RMIX has been the subject of several research reports. B. Riley Financial restated a “buy” rating and issued a $25.00 price target (down from $26.00) on shares of Suncrete in a research note on Wednesday, August 19th. Jefferies Financial Group reissued a “buy” rating and set a $22.00 target price on shares of Suncrete in a research note on Tuesday, August 18th. Wall Street Zen raised Suncrete to a “sell” rating in a research report on Saturday, June 13th. Finally, Weiss Ratings downgraded Suncrete from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday.

Suncrete Stock Performance

Shares of RMIX opened at $13.05 on Monday. The stock’s 50-day simple moving average is $16.58. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.40 and a quick ratio of 1.15. Suncrete has a 1 year low of $9.20 and a 1 year high of $25.50. The firm has a market capitalization of $958.99 million, a PE ratio of -93.21 and a beta of 0.71.

Suncrete (NASDAQ:RMIX) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.70). The company had revenue of $97.23 million for the quarter, compared to analysts’ expectations of $104.93 million. The firm’s revenue was up 146.2% on a year-over-year basis. On average, sell-side analysts predict that Suncrete will post -0.01 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RMIX. NewEdge Advisors LLC acquired a new stake in shares of Suncrete in the 2nd quarter valued at $29,000. Susquehanna International Group LLP purchased a new stake in shares of Suncrete during the 2nd quarter worth $285,000. State Street Corp acquired a new position in shares of Suncrete during the second quarter worth $4,358,000. Harraden Circle Investments LLC acquired a new position in shares of Suncrete during the second quarter worth $17,647,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Suncrete during the second quarter worth $27,360,000. Institutional investors and hedge funds own 71.07% of the company’s stock.

Suncrete Company Profile

Suncrete, Inc is a construction materials company that manufactures and supplies ready-mixed concrete and related concrete products. Its materials are used in residential, commercial and infrastructure construction projects.

The company serves construction contractors, developers and other customers through its operating facilities and delivery network. Its business is focused on producing concrete to meet project-specific requirements and transporting it to job sites.

Publicly available information about Suncrete’s corporate history, geographic footprint and leadership is limited.