U.S. Concrete Inc. (USCR) Shares Down 2.2%
U.S. Concrete Inc. (NASDAQ:USCR) shares were down 2.2% during mid-day trading on Thursday . The company traded as low as $51.44 and last traded at $51.88, with a volume of 472,794 shares trading hands. The stock had previously closed at $53.02.
A number of research analysts have recently issued reports on USCR shares. SunTrust Banks Inc. started coverage on U.S. Concrete in a research report on Monday, August 8th. They set a “buy” rating and a $75.00 target price on the stock. Zacks Investment Research downgraded U.S. Concrete from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Sidoti raised U.S. Concrete from a “neutral” rating to a “buy” rating and increased their price objective for the company from $72.00 to $90.00 in a research note on Friday, June 10th. Finally, DA Davidson initiated coverage on U.S. Concrete in a research note on Wednesday, June 8th. They issued a “buy” rating and a $80.00 price objective for the company. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $77.83.
The stock’s market capitalization is $781.36 million. The company’s 50-day moving average is $59.16 and its 200-day moving average is $60.24.
U.S. Concrete (NASDAQ:USCR) last released its quarterly 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 business earned $275.80 million during the quarter, compared to the consensus estimate of $297.94 million. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, analysts predict that U.S. Concrete Inc. will post $3.18 earnings per share for the current year.
In other news, CEO William J. Sandbrook sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $56.51, for a total value of $367,315.00. Following the transaction, the chief executive officer now owns 506,905 shares of the company’s stock, valued at $28,645,201.55. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Niel L. Poulsen bought 18,000 shares of the company’s stock in a transaction dated Monday, August 8th. The stock was bought at an average cost of $56.00 per share, for a total transaction of $1,008,000.00. Following the acquisition, the executive vice president now owns 41,481 shares of the company’s stock, valued at approximately $2,322,936. The disclosure for this purchase 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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