Suncrete (NASDAQ:RMIX) Hits New 1-Year Low – Here’s What Happened

Suncrete (NASDAQ:RMIX) reached a new 52-week low during mid-day trading on Friday. The company traded as low as $8.76 and last traded at $9.0150, with a volume of 99,502 shares changing hands. The stock had previously closed at $9.35.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on RMIX shares. Weiss Ratings lowered shares of Suncrete from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, September 24th. Jefferies Financial Group reaffirmed a “buy” rating and set a $22.00 price target on shares of Suncrete in a research report on Tuesday, August 18th. Wall Street Zen lowered Suncrete from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 3rd. Finally, B. Riley Financial reissued a “buy” rating and issued a $25.00 price objective (down from $26.00) on shares of Suncrete in a report on Wednesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $22.25.

Suncrete Trading Down 4.4%

The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.15 and a current ratio of 1.40. The stock has a 50-day moving average of $13.87. The company has a market cap of $656.71 million, a price-to-earnings ratio of -63.42 and a beta of 0.83.

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

Institutional Trading of Suncrete

A number of hedge funds have recently added to or reduced their stakes in RMIX. Alyeska Investment Group L.P. purchased a new position in Suncrete in the second quarter valued at $78,044,000. Bank of New York Mellon Corp purchased a new stake in shares of Suncrete during the 2nd quarter worth about $27,360,000. Harraden Circle Investments LLC acquired a new stake in shares of Suncrete during the 2nd quarter valued at about $17,647,000. State Street Corp acquired a new stake in shares of Suncrete during the 2nd quarter valued at about $4,358,000. Finally, Susquehanna International Group LLP acquired a new stake in shares of Suncrete during the 2nd quarter valued at about $285,000. 71.07% of the stock is owned by hedge funds and other institutional investors.

Suncrete Company Profile

Suncrete is a construction-materials company associated with the production and sale of ready-mixed concrete and related concrete products. Its operations support building and infrastructure projects by supplying concrete materials used in residential, commercial, industrial and other construction applications.

The company’s product and service offerings have included ready-mix concrete, concrete masonry products and related construction materials. Suncrete has historically served contractors, builders, developers and other customers involved in construction and development projects.

Publicly available information about Suncrete’s current operations, geographic footprint and leadership is limited.