Brokerages Set U S Concrete, Inc. (USCR) Price Target at $90.00
U S Concrete, Inc. (NASDAQ:USCR) has been given an average recommendation of “Hold” by the seven analysts that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $90.00.
Several brokerages recently commented on USCR. Zacks Investment Research lowered shares of U S Concrete from a “hold” rating to a “sell” rating in a research note on Saturday, November 4th. BidaskClub lowered shares of U S Concrete from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Stifel Nicolaus reiterated a “buy” rating and set a $98.00 price target on shares of U S Concrete in a research note on Thursday, September 28th. Citigroup Inc. lifted their price objective on shares of U S Concrete to $92.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. Finally, ValuEngine lowered shares of U S Concrete from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd.
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Shares of U S Concrete (NASDAQ:USCR) traded up $0.40 during trading hours on Wednesday, reaching $77.50. 306,713 shares of the company traded hands, compared to its average volume of 249,411. U S Concrete has a 12-month low of $56.15 and a 12-month high of $83.85. The company has a debt-to-equity ratio of 2.35, a current ratio of 2.31 and a quick ratio of 2.12. The firm has a market cap of $1,290.00, a price-to-earnings ratio of 26.51, a P/E/G ratio of 2.54 and a beta of 1.32.
U S Concrete (NASDAQ:USCR) last announced its quarterly earnings results on Friday, November 3rd. The construction company reported $0.99 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.46 by ($0.47). U S Concrete had a return on equity of 22.33% and a net margin of 0.99%. The company had revenue of $354.60 million for the quarter, compared to analyst estimates of $364.16 million. During the same quarter in the prior year, the business earned $1.19 earnings per share. U S Concrete’s revenue was up 7.9% compared to the same quarter last year. research analysts anticipate that U S Concrete will post 3.11 EPS for the current fiscal year.
In other news, VP David Andrew Behring sold 361 shares of U S Concrete stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $81.56, for a total value of $29,443.16. Following the sale, the vice president now owns 10,804 shares of the company’s stock, valued at $881,174.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO William J. Sandbrook sold 6,500 shares of U S Concrete stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $75.80, for a total transaction of $492,700.00. Following the completion of the sale, the chief executive officer now directly owns 412,091 shares in the company, valued at approximately $31,236,497.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,061 shares of company stock worth $614,718. 5.90% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of USCR. Ameritas Investment Partners Inc. boosted its holdings in shares of U S Concrete by 15.3% in the second quarter. Ameritas Investment Partners Inc. now owns 1,337 shares of the construction company’s stock valued at $105,000 after acquiring an additional 177 shares in the last quarter. Crow Point Partners LLC purchased a new stake in U S Concrete during the second quarter worth about $147,000. Pinebridge Investments L.P. boosted its holdings in U S Concrete by 2.8% during the second quarter. Pinebridge Investments L.P. now owns 1,961 shares of the construction company’s stock worth $154,000 after buying an additional 53 shares in the last quarter. First Mercantile Trust Co. purchased a new stake in U S Concrete during the second quarter worth about $196,000. Finally, Aperio Group LLC purchased a new stake in U S Concrete during the third quarter worth about $210,000.
About U S Concrete
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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