U.S. Concrete Inc. (NASDAQ:USCR) shares traded down 1.6% on Monday . The stock traded as low as $49.56 and last traded at $49.62, with a volume of 262,374 shares changing hands. The stock had previously closed at $50.41.

Several research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of U.S. Concrete from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a report on Wednesday, July 13th. Sidoti raised shares of U.S. Concrete from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $72.00 to $90.00 in a report on Friday, June 10th. SunTrust Banks Inc. assumed coverage on shares of U.S. Concrete in a report on Monday, August 8th. They set a “buy” rating and a $75.00 price objective for the company. Finally, DA Davidson assumed coverage on shares of U.S. Concrete in a report on Wednesday, June 8th. They set 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 issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $77.83.

The firm’s market capitalization is $693.63 million. The stock’s 50 day moving average is $53.93 and its 200 day moving average is $60.00.

U.S. Concrete (NASDAQ:USCR) last released its quarterly 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. U.S. Concrete had a net margin of 1.18% and a return on equity of 40.33%. The firm earned $275.80 million during the quarter, compared to the consensus estimate of $297.94 million. The business’s quarterly revenue was up 12.7% on a year-over-year basis. Equities research analysts predict that U.S. Concrete Inc. will post $3.15 EPS for the current fiscal year.

In related news, EVP Niel L. Poulsen acquired 18,000 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The stock was purchased at an average cost of $56.00 per share, with a total value of $1,008,000.00. Following the transaction, the executive vice president now directly owns 41,481 shares of the company’s stock, valued at approximately $2,322,936. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William J. Sandbrook sold 6,500 shares of the stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $66.07, for a total transaction of $429,455.00. Following the completion of the transaction, the chief executive officer now directly owns 509,867 shares of the company’s stock, valued at $33,686,912.69. The disclosure for this sale can be found here. 6.90% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the stock. PineBridge Investments L.P. raised its position in shares of U.S. Concrete by 1.6% in the second quarter. PineBridge Investments L.P. now owns 1,716 shares of the company’s stock valued at $105,000 after buying an additional 27 shares during the last quarter. US Bancorp DE raised its position in shares of U.S. Concrete by 0.3% in the second quarter. US Bancorp DE now owns 25,026 shares of the company’s stock valued at $1,524,000 after buying an additional 83 shares during the last quarter. Arizona State Retirement System raised its position in shares of U.S. Concrete by 1.4% in the second quarter. Arizona State Retirement System now owns 7,200 shares of the company’s stock valued at $439,000 after buying an additional 100 shares during the last quarter. BlackRock Advisors LLC raised its position in shares of U.S. Concrete by 1.6% in the second quarter. BlackRock Advisors LLC now owns 6,913 shares of the company’s stock valued at $421,000 after buying an additional 110 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in shares of U.S. Concrete by 1.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 9,885 shares of the company’s stock valued at $602,000 after buying an additional 125 shares during the last quarter. 98.09% of the stock is owned by hedge funds and other institutional investors.

U.S. Concrete Company Profile

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.

5 Day Chart for NASDAQ:USCR

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