U.S. Concrete Inc. (NASDAQ:USCR) shares saw strong trading volume on Monday . 440,656 shares traded hands during mid-day trading, an increase of 22% from the previous session’s volume of 361,400 shares.The stock last traded at $56.78 and had previously closed at $55.91.

USCR has been the subject of a number of research reports. SunTrust Banks Inc. initiated coverage on U.S. Concrete in a research report on Monday. They issued a “buy” rating and a $75.00 price objective for the company. Zacks Investment Research downgraded U.S. Concrete from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Sidoti upgraded U.S. Concrete from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $72.00 to $90.00 in a research report on Friday, June 10th. DA Davidson initiated coverage on U.S. Concrete in a research report on Wednesday, June 8th. They issued a “buy” rating and a $80.00 price objective for the company. Finally, BB&T Corp. initiated coverage on U.S. Concrete in a research report on Thursday, April 21st. They issued a “buy” rating and a $80.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. U.S. Concrete presently has an average rating of “Buy” and a consensus price target of $77.83.

The company’s market capitalization is $855.36 million. The company has a 50-day moving average of $61.69 and a 200-day moving average of $59.13.

U.S. Concrete (NASDAQ:USCR) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.54 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.95 by $0.41. The business earned $275.80 million during the quarter, compared to analysts’ expectations of $297.94 million. U.S. Concrete’s quarterly revenue was up 12.7% compared to the same quarter last year. Analysts forecast that U.S. Concrete Inc. will post $3.50 earnings per share for the current fiscal year.

In other news, VP Jeff L. Davis sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $65.04, for a total value of $390,240.00. Following the completion of the sale, the vice president now directly owns 29,130 shares in the company, valued at approximately $1,894,615.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Kevin Kohutek sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $66.15, for a total value of $330,750.00. Following the completion of the sale, the vice president now owns 11,111 shares of the company’s stock, valued at $734,992.65. The disclosure for this sale can be found here.

Several hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. increased its stake in shares of U.S. Concrete by 48.9% in the fourth quarter. Principal Financial Group Inc. now owns 278,687 shares of the company’s stock valued at $14,676,000 after buying an additional 91,475 shares in the last quarter. Cornerstone Capital Management Holdings LLC. increased its stake in shares of U.S. Concrete by 34.0% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 113,636 shares of the company’s stock valued at $5,984,000 after buying an additional 28,836 shares in the last quarter. California Public Employees Retirement System increased its stake in shares of U.S. Concrete by 11.4% in the fourth quarter. California Public Employees Retirement System now owns 57,800 shares of the company’s stock valued at $3,044,000 after buying an additional 5,900 shares in the last quarter. Nationwide Fund Advisors increased its stake in shares of U.S. Concrete by 302.6% in the fourth quarter. Nationwide Fund Advisors now owns 37,098 shares of the company’s stock valued at $1,954,000 after buying an additional 27,883 shares in the last quarter. Finally, California State Teachers Retirement System increased its stake in shares of U.S. Concrete by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 27,039 shares of the company’s stock valued at $1,424,000 after buying an additional 400 shares in the last quarter.

U.S. Concrete, Inc is a producer of ready-mixed concrete in a range of geographic markets in the United States. The Company conducts its operations through two segments. 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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