US Concrete (USCR) Downgraded by BidaskClub to “Sell”
BidaskClub downgraded shares of US Concrete (NASDAQ:USCR) from a hold rating to a sell rating in a research note released on Friday morning.
Other research analysts also recently issued reports about the company. DA Davidson reiterated a buy rating and set a $87.00 target price (down from $95.00) on shares of US Concrete in a research note on Thursday, October 11th. ValuEngine upgraded US Concrete from a strong sell rating to a sell rating in a research note on Wednesday, November 7th. Zacks Investment Research downgraded US Concrete from a hold rating to a sell rating in a research note on Saturday, October 13th. Sidoti assumed coverage on US Concrete in a research note on Monday, October 15th. They set a buy rating for the company. Finally, SunTrust Banks reduced their target price on US Concrete to $47.00 and set a buy rating for the company in a research note on Wednesday, November 21st. Three investment analysts have rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $76.17.
USCR stock traded down $0.50 during mid-day trading on Friday, reaching $37.61. The company had a trading volume of 353,584 shares, compared to its average volume of 342,449. The company has a quick ratio of 1.10, a current ratio of 1.28 and a debt-to-equity ratio of 2.08. The company has a market cap of $641.02 million, a price-to-earnings ratio of 18.77, a P/E/G ratio of 1.65 and a beta of 1.41. US Concrete has a 52 week low of $27.68 and a 52 week high of $86.35.
In other US Concrete news, Director Robert Martin Rayner bought 5,000 shares of US Concrete stock in a transaction dated Tuesday, November 20th. The stock was bought at an average cost of $35.25 per share, for a total transaction of $176,250.00. Following the purchase, the director now owns 53,028 shares of the company’s stock, valued at approximately $1,869,237. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have bought 10,500 shares of company stock valued at $386,600 and have sold 390 shares valued at $15,933. Insiders own 5.30% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of USCR. Advisory Services Network LLC boosted 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 purchasing an additional 1,945 shares during the period. Rehmann Capital Advisory Group bought a new stake in US Concrete in the 3rd quarter valued at $136,000. 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. Finally, Stevens Capital Management LP bought a new stake in US Concrete in the 2nd quarter valued at $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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