US Concrete (USCR) Reaches New 12-Month Low at $35.58
US Concrete Inc (NASDAQ:USCR)’s share price reached a new 52-week low on Thursday . The company traded as low as $35.58 and last traded at $36.02, with a volume of 10995 shares. The stock had previously closed at $38.09.
A number of equities analysts have weighed in on the company. DA Davidson reaffirmed a “buy” rating and set a $87.00 price target (down previously from $95.00) on shares of US Concrete in a research report on Thursday. BidaskClub downgraded US Concrete from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 6th. SunTrust Banks set a $70.00 price target on US Concrete and gave the stock a “buy” rating in a research report on Monday, August 6th. Citigroup reduced their price target on US Concrete from $77.00 to $74.00 and set a “$53.95” rating for the company in a research report on Monday, July 23rd. Finally, ValuEngine downgraded US Concrete from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 26th. Three investment analysts have rated the stock with a sell rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $80.00.
The firm has a market cap of $771.10 million, a P/E ratio of 13.26, a P/E/G ratio of 1.26 and a beta of 1.06. The company has a quick ratio of 1.21, a current ratio of 1.41 and a debt-to-equity ratio of 2.27.
In related news, CFO John E. Kunz acquired 1,000 shares of the business’s stock in a transaction dated Thursday, August 9th. The stock was bought at an average price of $51.76 per share, with a total value of $51,760.00. Following the acquisition, the chief financial officer now owns 13,356 shares in the company, valued at approximately $691,306.56. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman William J. Sandbrook sold 9,000 shares of the stock in a transaction that occurred on Thursday, July 26th. The shares were sold at an average price of $51.45, for a total value of $463,050.00. Following the completion of the sale, the chairman now directly owns 390,670 shares of the company’s stock, valued at approximately $20,099,971.50. The disclosure for this sale can be found here. In the last three months, insiders bought 8,650 shares of company stock valued at $424,178 and sold 9,260 shares valued at $476,128. Corporate insiders own 5.30% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in USCR. Advisory Services Network LLC raised its stake in US Concrete by 1,706.1% in the 2nd quarter. Advisory Services Network LLC now owns 2,059 shares of the construction company’s stock valued at $105,000 after acquiring an additional 1,945 shares during the period. NumerixS Investment Technologies Inc bought a new stake in US Concrete in the 2nd quarter valued at $154,000. SG Americas Securities LLC bought a new stake in US Concrete in the 2nd quarter valued at $181,000. GSA Capital Partners LLP bought a new stake in US Concrete in the 1st quarter valued at $205,000. Finally, Stevens Capital Management LP bought a new stake in US Concrete in the 2nd quarter valued at $230,000.
About US Concrete (NASDAQ:USCR)
U.S. Concrete, Inc, through its subsidiaries, produces and sells ready-mixed concrete, aggregates, and concrete-related products and services to the construction industry in the United States and Canada. It operates through two segments, Ready-Mixed Concrete and Aggregate Products. The Ready-Mixed Concrete segment engages in the formulation, preparation, and delivery of ready-mixed concrete to customers' job sites; and the provision of various services that include the formulation of mixtures for specific design uses, on-site and lab-based product quality control, and customized delivery programs.
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