U S Concrete, Inc. (NASDAQ:USCR) had its price target raised by Citigroup Inc. to $92.00 in a report issued on Wednesday, August 9th, The Fly reports. They currently have a buy rating on the construction company’s stock.
Other equities analysts have also issued reports about the company. BidaskClub lowered U S Concrete from a buy rating to a hold rating in a report on Wednesday, August 2nd. TheStreet raised U S Concrete from a c+ rating to a b rating in a report on Thursday, May 4th. Finally, Zacks Investment Research raised U S Concrete from a sell rating to a hold rating in a report on Wednesday, May 3rd. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. U S Concrete currently has a consensus rating of Buy and an average price target of $83.50.
U S Concrete (NASDAQ USCR) opened at 76.85 on Wednesday. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 48.70 and a beta of 1.22. The stock’s 50 day moving average price is $77.87 and its 200-day moving average price is $69.53. U S Concrete has a one year low of $42.82 and a one year high of $80.45.
U S Concrete (NASDAQ:USCR) last released its 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. The company had revenue of $340.90 million during the quarter, compared to analyst estimates of $342.60 million. U S Concrete had a return on equity of 25.80% and a net margin of 2.09%. U S Concrete’s quarterly revenue was up 23.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.54 earnings per share. On average, equities research analysts expect that U S Concrete will post $3.99 EPS for the current fiscal year.
In other U S Concrete news, CEO William J. Sandbrook sold 6,500 shares of the stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $68.08, for a total transaction of $442,520.00. Following the sale, the chief executive officer now owns 438,617 shares in the company, valued at $29,861,045.36. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Jeffrey W. Roberts sold 2,394 shares of the stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $68.00, for a total value of $162,792.00. Following the sale, the vice president now owns 34,422 shares in the company, valued at approximately $2,340,696. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,044 shares of company stock valued at $1,701,933. 5.90% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of USCR. Macquarie Group Ltd. increased its stake in U S Concrete by 76.9% in the fourth quarter. Macquarie Group Ltd. now owns 36,800 shares of the construction company’s stock valued at $2,410,000 after buying an additional 16,000 shares in the last quarter. Stifel Financial Corp increased its stake in U S Concrete by 21.5% in the first quarter. Stifel Financial Corp now owns 101,002 shares of the construction company’s stock valued at $6,551,000 after buying an additional 17,851 shares in the last quarter. Daiwa Securities Group Inc. bought a new stake in U S Concrete during the first quarter valued at about $1,459,000. Dimensional Fund Advisors LP increased its stake in U S Concrete by 3.8% in the first quarter. Dimensional Fund Advisors LP now owns 552,043 shares of the construction company’s stock valued at $35,634,000 after buying an additional 20,254 shares in the last quarter. Finally, BlackRock Inc. increased its stake in U S Concrete by 155,863.7% in the first quarter. BlackRock Inc. now owns 1,740,555 shares of the construction company’s stock valued at $112,353,000 after buying an additional 1,739,439 shares in 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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