U.S. Concrete Inc. (USCR) Stock Price Down 2.3%
U.S. Concrete Inc. (NASDAQ:USCR)’s share price dropped 2.3% on Friday . The company traded as low as $54.89 and last traded at $54.92, with a volume of 163,743 shares. The stock had previously closed at $56.19.
USCR has been the subject of a number of research analyst reports. Zacks Investment Research lowered shares of U.S. Concrete from a “hold” rating to a “sell” rating in a research note on Thursday, May 12th. DA Davidson assumed coverage on shares of U.S. Concrete in a research note on Wednesday, June 8th. They issued a “buy” rating and a $80.00 target price for the company. Sidoti upgraded shares of U.S. Concrete from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $72.00 to $90.00 in a research note on Friday, June 10th. Finally, SunTrust Banks Inc. assumed coverage on shares of U.S. Concrete in a research note on Monday, August 8th. They set a “buy” rating and a $75.00 price objective for the company. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $77.83.
The firm’s market capitalization is $817.32 million. The company has a 50-day moving average price of $60.38 and a 200-day moving average price of $60.08.
U.S. Concrete (NASDAQ:USCR) last announced its earnings results on Thursday, August 4th. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by $0.41. The company had revenue of $275.80 million for the quarter, compared to analyst estimates of $297.94 million. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. Analysts anticipate that U.S. Concrete Inc. will post $3.18 earnings per share for the current year.
In related news, VP Jeffrey W. Roberts sold 1,000 shares of U.S. Concrete stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $62.65, for a total transaction of $62,650.00. Following the completion of the transaction, the vice president now owns 37,976 shares of the company’s stock, valued at $2,379,196.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Niel L. Poulsen bought 18,000 shares of the stock in a transaction that occurred on Monday, August 8th. The shares were purchased at an average cost of $56.00 per share, with a total value of $1,008,000.00. Following the purchase, the executive vice president now directly owns 41,481 shares of the company’s stock, valued at $2,322,936. The disclosure for this purchase can be found here.
An institutional investor recently raised its position in U.S. Concrete stock. US Bancorp DE boosted its position in U.S. Concrete Inc. (NASDAQ:USCR) by 13.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,630 shares of the company’s stock after buying an additional 2,883 shares during the period. US Bancorp DE owned 0.17% of U.S. Concrete worth $1,297,000 as of its most recent SEC filing.
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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