U.S. Concrete Inc. (USCR) Sees Large Volume Increase
U.S. Concrete Inc. (NASDAQ:USCR) saw strong trading volume on Wednesday . 775,731 shares traded hands during mid-day trading, an increase of 38% from the previous session’s volume of 560,701 shares.The stock last traded at $53.44 and had previously closed at $57.20.
A number of research analysts have weighed in on the stock. SunTrust Banks Inc. assumed coverage on shares of U.S. Concrete in a research note on Monday, August 8th. They issued a “buy” rating and a $75.00 target price on the stock. Zacks Investment Research cut shares of U.S. Concrete from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Sidoti upgraded shares of U.S. Concrete from a “neutral” rating to a “buy” rating and boosted their target price for the company from $72.00 to $90.00 in a research note on Friday, June 10th. Finally, 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 on the stock. One research analyst has rated the stock with a hold rating and seven have assigned 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 company’s 50 day moving average price is $60.09 and its 200 day moving average price is $60.42. The firm’s market cap is $791.06 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 consensus estimate of $0.95 by $0.41. The firm had revenue of $275.80 million for the quarter, compared to analysts’ expectations of $297.94 million. The company’s quarterly revenue was up 12.7% on a year-over-year basis. On average, equities analysts predict that U.S. Concrete Inc. will post $3.18 earnings per share for the current fiscal year.
In other news, VP Jeffrey W. Roberts sold 1,000 shares of the business’s stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $62.65, for a total value of $62,650.00. Following the transaction, the vice president now owns 37,976 shares of the company’s stock, valued at $2,379,196.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William J. Sandbrook sold 6,500 shares of the business’s stock in a transaction on Wednesday, July 27th. The stock was 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 in the company, valued at approximately $33,686,912.69. The disclosure for this sale can be found here.
An institutional investor recently raised its position in U.S. Concrete stock. Principal Financial Group Inc. increased its stake in U.S. Concrete Inc. (NASDAQ:USCR) by 48.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 278,687 shares of the company’s stock after buying an additional 91,475 shares during the period. Principal Financial Group Inc. owned about 1.96% of U.S. Concrete worth $14,676,000 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.