US Concrete Inc (USCR) Lifted to “Buy” at BidAskClub

US Concrete Inc (NASDAQ:USCR) was upgraded by investment analysts at BidAskClub from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

A number of other equities research analysts have also recently issued reports on the company. Zacks Investment Research cut US Concrete from a “hold” rating to a “sell” rating in a research note on Friday, March 10th. TheStreet upgraded US Concrete from a “c+” rating to a “b” rating in a research note on Thursday, May 4th. DA Davidson reiterated a “buy” rating and set a $80.00 price objective on shares of US Concrete in a research note on Friday, March 3rd. Finally, Stifel Nicolaus upped their price objective on US Concrete to $76.00 in a research note on Wednesday, March 1st. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $80.40.

US Concrete (NASDAQ:USCR) traded up 1.19% during mid-day trading on Friday, hitting $70.53. 17,273 shares of the company were exchanged. The stock’s 50 day moving average is $67.01 and its 200-day moving average is $64.64. US Concrete has a 12-month low of $42.82 and a 12-month high of $71.85. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 45.30 and a beta of 1.19.

US Concrete (NASDAQ:USCR) last announced its quarterly earnings data on Thursday, May 4th. The construction company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.44. US Concrete had a return on equity of 27.73% and a net margin of 4.41%. The company had revenue of $299.10 million for the quarter, compared to analysts’ expectations of $274.88 million. During the same quarter in the prior year, the business posted $0.31 EPS. The business’s revenue was up 22.1% compared to the same quarter last year. Equities research analysts predict that US Concrete will post $3.74 EPS for the current year.

WARNING: This piece was first reported by Mideast Time and is owned by of Mideast Time. If you are reading this piece on another domain, it was illegally copied and reposted in violation of United States and international copyright and trademark legislation. The correct version of this piece can be accessed at https://www.mideasttime.com/us-concrete-inc-uscr-lifted-to-buy-at-bidaskclub/1766100.html.

In related news, VP Mark Baker Peabody sold 3,000 shares of the stock in a transaction on Monday, March 13th. The stock was sold at an average price of $69.84, for a total value of $209,520.00. Following the sale, the vice president now owns 27,091 shares in the company, valued at approximately $1,892,035.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William J. Sandbrook sold 6,500 shares of the stock in a transaction on Wednesday, March 22nd. The shares were sold at an average price of $65.97, for a total value of $428,805.00. Following the completion of the sale, the chief executive officer now owns 455,739 shares in the company, valued at approximately $30,065,101.83. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,601 shares of company stock worth $2,612,342. 6.90% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of USCR. Thrivent Financial for Lutherans boosted its stake in US Concrete by 4.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 7,560 shares of the construction company’s stock worth $495,000 after buying an additional 310 shares during the period. Polaris Capital Management LLC boosted its stake in US Concrete by 4.1% in the fourth quarter. Polaris Capital Management LLC now owns 27,860 shares of the construction company’s stock worth $1,825,000 after buying an additional 1,100 shares during the period. Hatteras Funds LP boosted its stake in US Concrete by 25.0% in the fourth quarter. Hatteras Funds LP now owns 6,078 shares of the construction company’s stock worth $398,000 after buying an additional 1,217 shares during the period. Public Sector Pension Investment Board boosted its stake in US Concrete by 5.2% in the fourth quarter. Public Sector Pension Investment Board now owns 10,100 shares of the construction company’s stock worth $662,000 after buying an additional 500 shares during the period. Finally, Arrowpoint Asset Management LLC acquired a new stake in US Concrete during the fourth quarter worth $4,978,000.

US Concrete Company Profile

U.S. Concrete, Inc is a producer of ready-mixed concrete in select geographic markets in the United States. The Company conducts its operations through two business segments: ready-mixed concrete and aggregate products. The ready-mixed concrete segment engages principally in the formulation, production and delivery of ready-mixed concrete to its customers’ job sites.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:USCR”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Receive News & Ratings for US Concrete Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for US Concrete Inc and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply

 
© 2006-2017 Mideast Time.