Suncrete (NASDAQ:RMIX) Receives $22.25 Consensus PT from Analysts

Suncrete (NASDAQ:RMIX) has received a consensus recommendation of “Buy” from the six research firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $22.25.

Several analysts have recently issued reports on the company. Weiss Ratings upgraded Suncrete from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, August 14th. B. Riley Financial reissued a “buy” rating and set a $25.00 target price (down from $26.00) on shares of Suncrete in a research note on Wednesday, August 19th. Wall Street Zen upgraded Suncrete to a “sell” rating in a report on Saturday, June 13th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $22.00 price target on shares of Suncrete in a research report on Tuesday, August 18th. Finally, Robert W. Baird initiated coverage on Suncrete in a research note on Wednesday, May 27th. They issued an “outperform” rating and a $21.00 price objective for the company.

Suncrete Stock Down 5.1%

Shares of RMIX opened at $12.73 on Monday. Suncrete has a fifty-two week low of $9.20 and a fifty-two week high of $25.50. The business’s 50 day simple moving average is $16.86. The stock has a market cap of $935.53 million, a P/E ratio of -90.93 and a beta of 0.71. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.15 and a current ratio of 1.40.

Suncrete (NASDAQ:RMIX) last issued its quarterly earnings results on Friday, August 14th. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.70). The business had revenue of $97.23 million for the quarter, compared to the consensus estimate of $104.93 million. Suncrete’s revenue was up 146.2% on a year-over-year basis. Research analysts forecast that Suncrete will post -0.01 earnings per share for the current year.

Institutional Trading of Suncrete

Several hedge funds have recently added to or reduced their stakes in RMIX. State Street Corp purchased a new position in Suncrete in the second quarter worth approximately $4,358,000. NewEdge Advisors LLC purchased a new stake in shares of Suncrete in the 2nd quarter valued at approximately $29,000. Harraden Circle Investments LLC acquired a new stake in shares of Suncrete in the 2nd quarter valued at $17,647,000. Susquehanna International Group LLP acquired a new stake in shares of Suncrete in the 2nd quarter valued at $285,000. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of Suncrete in the 2nd quarter valued at $78,044,000. Institutional investors and hedge funds own 71.07% of the company’s stock.

About Suncrete

Suncrete, Inc is a construction materials company that manufactures and supplies ready-mixed concrete and related concrete products. Its materials are used in residential, commercial and infrastructure construction projects.

The company serves construction contractors, developers and other customers through its operating facilities and delivery network. Its business is focused on producing concrete to meet project-specific requirements and transporting it to job sites.

Publicly available information about Suncrete’s corporate history, geographic footprint and leadership is limited.