DA Davidson Brokers Increase Earnings Estimates for U S Concrete, Inc. (NASDAQ:USCR)
U S Concrete, Inc. (NASDAQ:USCR) – Stock analysts at DA Davidson upped their Q3 2017 earnings estimates for U S Concrete in a report issued on Wednesday. DA Davidson analyst B. Thielman now anticipates that the construction company will post earnings per share of $1.46 for the quarter, up from their prior forecast of $1.42.
U S Concrete (NASDAQ:USCR) last issued its earnings results on Tuesday, August 8th. The construction company reported $0.95 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.09. U S Concrete had a return on equity of 25.80% and a net margin of 2.09%. The company had revenue of $340.90 million during the quarter, compared to the consensus estimate of $342.60 million. During the same quarter in the prior year, the business earned $0.54 earnings per share. The company’s revenue was up 23.6% compared to the same quarter last year. COPYRIGHT VIOLATION NOTICE: This report was published by Daily Political and is the sole property of of Daily Political. If you are reading this report on another domain, it was copied illegally and republished in violation of U.S. and international copyright legislation. The legal version of this report can be read at https://www.dailypolitical.com/2017/08/11/da-davidson-brokers-increase-earnings-estimates-for-u-s-concrete-inc-nasdaquscr.html.
Several other analysts have also issued reports on USCR. BidaskClub lowered U S Concrete from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Citigroup Inc. increased their price objective on U S Concrete to $92.00 and gave the stock a “buy” rating in a report on Wednesday. TheStreet upgraded U S Concrete from a “c+” rating to a “b” rating in a report on Thursday, May 4th. Finally, Zacks Investment Research upgraded U S Concrete from a “sell” rating to a “hold” rating in a report on Wednesday, May 3rd. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $82.25.
Shares of U S Concrete (NASDAQ:USCR) opened at 75.70 on Friday. The stock has a market cap of $1.19 billion, a P/E ratio of 47.97 and a beta of 1.22. The stock has a 50 day moving average price of $78.05 and a 200 day moving average price of $69.07. U S Concrete has a 12 month low of $42.82 and a 12 month high of $80.45.
In other U S Concrete news, VP Jeffrey W. Roberts sold 2,394 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $68.00, for a total transaction of $162,792.00. Following the transaction, the vice president now directly owns 34,422 shares in the company, valued at $2,340,696. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO William J. Sandbrook sold 6,500 shares of the firm’s stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $78.91, for a total value of $512,915.00. Following the transaction, the chief executive officer now owns 434,069 shares in the company, valued at $34,252,384.79. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,044 shares of company stock worth $1,701,933. Corporate insiders own 5.90% of the company’s stock.
A number of institutional investors have recently bought and sold shares of USCR. Essex Investment Management Co. LLC raised its position in U S Concrete by 122.4% in the first quarter. Essex Investment Management Co. LLC now owns 35,730 shares of the construction company’s stock valued at $2,306,000 after buying an additional 19,664 shares during the period. DUPONT CAPITAL MANAGEMENT Corp raised its position in U S Concrete by 3.4% in the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 315,368 shares of the construction company’s stock valued at $20,357,000 after buying an additional 10,300 shares during the period. Investment Counselors of Maryland LLC raised its position in U S Concrete by 8.3% in the first quarter. Investment Counselors of Maryland LLC now owns 326,070 shares of the construction company’s stock valued at $21,048,000 after buying an additional 25,100 shares during the period. State of New Jersey Common Pension Fund D bought a new position in U S Concrete during the first quarter valued at $5,810,000. Finally, New Jersey Better Educational Savings Trust bought a new position in U S Concrete during the first quarter valued at $516,000.
U S Concrete Company Profile
U.S. Concrete, Inc is a producer of ready-mixed concrete in select geographic markets in the United States. The Company conducts its operations through two business segments: ready-mixed concrete and aggregate products. 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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