According to Zacks, “U.S. Concrete Inc. operates as a provider of ready-mixed concrete and concrete-related products and services to the construction industry in the United States. The Company operates in two segments: ready-mixed concrete and concrete-related products; and precast concrete. The Company’s ready-mixed concrete and concrete-related products segment produces and sells ready-mixed concrete, aggregates (crushed stone, sand and gravel), concrete masonry and building materials. Its precast concrete products segment produces and sells precast concrete products. Markets served by the Company include west Texas, northern California, New Jersey, New York, Washington, D.C., Oklahoma and the mid-Atlantic region. U.S. Concrete Inc. is based in Houston, Texas, USA. “
Other research analysts also recently issued reports about the stock. DA Davidson set a $80.00 target price on shares of U.S. Concrete and gave the stock a buy rating in a research report on Thursday, October 6th. SunTrust Banks Inc. started coverage on shares of U.S. Concrete in a research report on Monday, August 8th. They issued a buy rating and a $75.00 target price on the stock. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $77.83.
Shares of U.S. Concrete (NASDAQ:USCR) traded down 1.47% during trading on Wednesday, hitting $47.07. 33,493 shares of the stock were exchanged. U.S. Concrete has a 12-month low of $40.42 and a 12-month high of $69.66. The stock’s 50 day moving average is $49.30 and its 200-day moving average is $58.82. The stock’s market cap is $702.28 million.
U.S. Concrete (NASDAQ:USCR) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.95 by $0.41. The business earned $275.80 million during the quarter, compared to analyst estimates of $297.94 million. U.S. Concrete had a return on equity of 40.33% and a net margin of 1.18%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. Equities research analysts anticipate that U.S. Concrete will post $2.99 EPS for the current year.
In other U.S. Concrete news, VP Jeff L. Davis sold 6,000 shares of U.S. Concrete stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $65.04, for a total value of $390,240.00. Following the completion of the sale, the vice president now directly owns 29,130 shares in the company, valued at $1,894,615.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William J. Sandbrook sold 6,500 shares of U.S. Concrete stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $66.07, for a total transaction of $429,455.00. Following the completion of the sale, the chief executive officer now owns 509,867 shares of the company’s stock, valued at $33,686,912.69. The disclosure for this sale can be found here. Corporate insiders own 6.90% of the company’s stock.
A number of hedge funds have recently bought and sold shares of USCR. PineBridge Investments L.P. boosted its stake in U.S. Concrete by 1.6% in the second quarter. PineBridge Investments L.P. now owns 1,716 shares of the company’s stock worth $105,000 after buying an additional 27 shares during the period. US Bancorp DE boosted its stake in U.S. Concrete by 0.3% in the second quarter. US Bancorp DE now owns 25,026 shares of the company’s stock worth $1,524,000 after buying an additional 83 shares during the period. First American Bank boosted its stake in U.S. Concrete by 1.6% in the third quarter. First American Bank now owns 5,780 shares of the company’s stock worth $266,000 after buying an additional 90 shares during the period. Arizona State Retirement System boosted its stake in U.S. Concrete by 1.4% in the second quarter. Arizona State Retirement System now owns 7,200 shares of the company’s stock worth $439,000 after buying an additional 100 shares during the period. Finally, BlackRock Advisors LLC boosted its stake in U.S. Concrete by 1.6% in the second quarter. BlackRock Advisors LLC now owns 6,913 shares of the company’s stock worth $421,000 after buying an additional 110 shares during the period. Hedge funds and other institutional investors own 98.09% of the company’s stock.
U.S. Concrete Company Profile
U.S. Concrete, Inc is a producer of ready-mixed concrete in a range of geographic markets in the United States. The Company conducts its operations through two segments. The ready-mixed concrete segment engages principally in the formulation, production and delivery of ready-mixed concrete to its customers’ job sites.
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