US Concrete (USCR) Price Target Cut to $47.00 by Analysts at SunTrust Banks
US Concrete (NASDAQ:USCR) had its target price lowered by investment analysts at SunTrust Banks to $47.00 in a note issued to investors on Wednesday, The Fly reports. The firm currently has a “buy” rating on the construction company’s stock. SunTrust Banks’ price objective indicates a potential upside of 37.63% from the stock’s current price.
USCR has been the topic of a number of other reports. BidaskClub downgraded shares of US Concrete from a “hold” rating to a “sell” rating in a research note on Friday, September 28th. Sidoti began coverage on shares of US Concrete in a research note on Monday, October 15th. They set a “buy” rating on the stock. DA Davidson reiterated a “buy” rating and set a $87.00 price objective (down from $95.00) on shares of US Concrete in a research note on Thursday, October 11th. ValuEngine upgraded shares of US Concrete from a “strong sell” rating to a “sell” rating in a research note on Wednesday, November 7th. Finally, Zacks Investment Research downgraded shares of US Concrete from a “hold” rating to a “sell” rating in a research note on Saturday, October 13th. Three investment analysts have rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $76.17.
Shares of USCR stock opened at $34.15 on Wednesday. The firm has a market capitalization of $600.66 million, a PE ratio of 12.60, a PEG ratio of 1.34 and a beta of 1.38. The company has a quick ratio of 1.10, a current ratio of 1.28 and a debt-to-equity ratio of 2.08. US Concrete has a twelve month low of $27.68 and a twelve month high of $86.35.
In other US Concrete news, Director Kurt Matthew Cellar bought 5,000 shares of the company’s stock in a transaction on Thursday, September 6th. The shares were bought at an average cost of $48.40 per share, with a total value of $242,000.00. Following the completion of the acquisition, the director now owns 47,309 shares of the company’s stock, valued at $2,289,755.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have acquired 7,500 shares of company stock worth $356,100 and have sold 390 shares worth $15,933. Corporate insiders own 5.30% of the company’s stock.
Large investors have recently modified their holdings of the business. Advisory Services Network LLC raised its holdings in shares of US Concrete by 1,706.1% during the second quarter. Advisory Services Network LLC now owns 2,059 shares of the construction company’s stock worth $105,000 after purchasing an additional 1,945 shares during the period. NumerixS Investment Technologies Inc acquired a new stake in shares of US Concrete during the second quarter worth $154,000. SG Americas Securities LLC acquired a new stake in shares of US Concrete during the second quarter worth $181,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of US Concrete during the third quarter worth $208,000. Finally, Stevens Capital Management LP acquired a new stake in shares of US Concrete during the second quarter worth $230,000.
US Concrete Company Profile
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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