According to Zacks, “U.S. Concrete Inc. operates as a provider of ready-mixed concrete and concrete-related products and services to the construction industry in the United States. The Company operates in two segments: ready-mixed concrete and concrete-related products; and precast concrete. The Company’s ready-mixed concrete and concrete-related products segment produces and sells ready-mixed concrete, aggregates (crushed stone, sand and gravel), concrete masonry and building materials. Its precast concrete products segment produces and sells precast concrete products. Markets served by the Company include west Texas, northern California, New Jersey, New York, Washington, D.C., Oklahoma and the mid-Atlantic region. U.S. Concrete Inc. is based in Houston, Texas, USA. “
Several other research analysts also recently weighed in on the company. SunTrust Banks downgraded US Concrete from a buy rating to a hold rating and set a $37.55 price target for the company. in a research note on Thursday, January 31st. BidaskClub downgraded US Concrete from a strong-buy rating to a buy rating in a research note on Wednesday, April 3rd. Finally, ValuEngine upgraded 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 stock. US Concrete has a consensus rating of Buy and an average price target of $55.33.
USCR stock opened at $48.77 on Thursday. US Concrete has a 1-year low of $27.68 and a 1-year high of $65.85. The company has a quick ratio of 1.06, a current ratio of 1.25 and a debt-to-equity ratio of 2.21. The company has a market capitalization of $810.51 million, a price-to-earnings ratio of 25.27, a price-to-earnings-growth ratio of 1.75 and a beta of 1.29.
US Concrete (NASDAQ:USCR) last posted its quarterly earnings results on Thursday, May 9th. The construction company reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.01). US Concrete had a return on equity of 8.76% and a net margin of 2.06%. The business had revenue of $333.10 million during the quarter, compared to the consensus estimate of $342.80 million. During the same quarter in the previous year, the company earned ($0.23) earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, sell-side analysts expect that US Concrete will post 2.79 EPS for the current fiscal year.
In other news, VP Jeffrey W. Roberts sold 3,800 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $41.03, for a total transaction of $155,914.00. Following the sale, the vice president now directly owns 16,511 shares of the company’s stock, valued at approximately $677,446.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Kevin Kohutek sold 5,100 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $40.75, for a total value of $207,825.00. Following the sale, the vice president now directly owns 5,637 shares in the company, valued at $229,707.75. The disclosure for this sale can be found here. Insiders have sold a total of 15,432 shares of company stock worth $643,221 over the last ninety days. Insiders own 4.70% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Cutler Group LP raised its holdings in shares of US Concrete by 136.2% during the 4th quarter. Cutler Group LP now owns 5,285 shares of the construction company’s stock worth $186,000 after acquiring an additional 19,867 shares in the last quarter. NJ State Employees Deferred Compensation Plan purchased a new stake in US Concrete during the 4th quarter valued at $318,000. Brinker Capital Inc. raised its holdings in US Concrete by 3.1% during the 4th quarter. Brinker Capital Inc. now owns 11,435 shares of the construction company’s stock valued at $403,000 after buying an additional 347 shares during the period. Principal Financial Group Inc. raised its holdings in US Concrete by 88.4% during the 4th quarter. Principal Financial Group Inc. now owns 243,078 shares of the construction company’s stock valued at $8,576,000 after buying an additional 114,072 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new stake in US Concrete during the 4th quarter valued at $297,000. 98.51% of the stock is currently owned by institutional investors and hedge funds.
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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