US Concrete (USCR) Downgraded to Sell at BidaskClub
US Concrete (NASDAQ:USCR) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.
Several other research firms also recently weighed in on USCR. DA Davidson reaffirmed a “buy” rating on shares of US Concrete in a research report on Monday, December 4th. Zacks Investment Research downgraded US Concrete from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 11th. ValuEngine downgraded US Concrete from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $98.00 target price on shares of US Concrete in a research report on Thursday, September 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $89.00.
Shares of US Concrete (NASDAQ:USCR) opened at $79.00 on Thursday. The company has a current ratio of 2.31, a quick ratio of 2.12 and a debt-to-equity ratio of 2.35. The stock has a market capitalization of $1,320.00, a PE ratio of 105.33, a P/E/G ratio of 1.84 and a beta of 1.31. US Concrete has a 52-week low of $57.95 and a 52-week high of $86.35.
In other news, CEO William J. Sandbrook sold 9,000 shares of US Concrete stock in a transaction dated Friday, December 28th. The stock was sold at an average price of $82.91, for a total value of $746,190.00. Following the completion of the transaction, the chief executive officer now owns 410,611 shares in the company, valued at approximately $34,043,758.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Colin Mcgill Sutherland sold 1,400 shares of US Concrete stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $83.28, for a total value of $116,592.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,634 shares of company stock valued at $6,253,144. 5.90% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in USCR. Ameritas Investment Partners Inc. boosted its stake in shares of US Concrete by 15.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,337 shares of the construction company’s stock valued at $105,000 after buying an additional 177 shares during the period. Pinebridge Investments L.P. boosted its stake in shares of US Concrete by 2.8% in the 2nd quarter. Pinebridge Investments L.P. now owns 1,961 shares of the construction company’s stock valued at $154,000 after buying an additional 53 shares during the period. Aperio Group LLC purchased a new position in shares of US Concrete in the 3rd quarter valued at about $210,000. Commonwealth Equity Services Inc purchased a new position in shares of US Concrete in the 3rd quarter valued at about $217,000. Finally, Stevens Capital Management LP purchased a new position in shares of US Concrete in the 2nd quarter valued at about $225,000.
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US 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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