U.S. Concrete Inc. (USCR) Trading Down 2.2%
U.S. Concrete Inc. (NASDAQ:USCR)’s share price was down 2.2% during trading on Thursday . The company traded as low as $51.44 and last traded at $51.88, with a volume of 472,794 shares. The stock had previously closed at $53.02.
A number of equities analysts have commented on USCR shares. Sidoti upgraded shares of U.S. Concrete from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $72.00 to $90.00 in a report on Friday, June 10th. DA Davidson started coverage on shares of U.S. Concrete in a report on Wednesday, June 8th. They issued a “buy” rating and a $80.00 target price for the company. Zacks Investment Research upgraded shares of U.S. Concrete from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a report on Wednesday, July 13th. Finally, SunTrust Banks Inc. started coverage on shares of U.S. Concrete in a report on Monday, August 8th. They issued a “buy” rating and a $75.00 target price for the company. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $77.83.
The firm has a 50 day moving average price of $59.79 and a 200 day moving average price of $60.36. The firm’s market cap is $759.43 million.
U.S. Concrete (NASDAQ:USCR) last released its earnings results on Thursday, August 4th. The company reported $0.54 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.95 by $0.41. The company earned $275.80 million during the quarter, compared to analysts’ expectations of $297.94 million. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. Equities research analysts forecast that U.S. Concrete Inc. will post $3.18 EPS for the current fiscal year.
In other news, EVP Niel L. Poulsen purchased 18,000 shares of the stock in a transaction on Monday, August 8th. The stock was purchased at an average price of $56.00 per share, with a total value of $1,008,000.00. Following the completion of the transaction, the executive vice president now owns 41,481 shares in the company, valued at $2,322,936. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William J. Sandbrook sold 6,500 shares of the business’s stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $66.07, for a total value of $429,455.00. Following the sale, the chief executive officer now directly owns 509,867 shares of the company’s stock, valued at approximately $33,686,912.69. The disclosure for this sale can be found here.
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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