U S Concrete, Inc. (NASDAQ:USCR) had its price target upped by Citigroup Inc. to $92.00 in a research note published on Wednesday, The Fly reports. They currently have a buy rating on the construction company’s stock.
USCR has been the subject of several other research reports. Zacks Investment Research cut U S Concrete from a buy rating to a hold rating in a report on Wednesday, July 5th. BidaskClub cut U S Concrete from a buy rating to a hold rating in a report on Wednesday, August 2nd. Finally, TheStreet upgraded U S Concrete from a c+ rating to a b rating in a report on Thursday, May 4th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $82.25.
U S Concrete (NASDAQ:USCR) opened at 76.40 on Wednesday. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 48.42 and a beta of 1.22. The company has a 50 day moving average price of $78.05 and a 200-day moving average price of $69.17. U S Concrete has a 1-year low of $42.82 and a 1-year high of $80.45.
U S Concrete (NASDAQ:USCR) last released its quarterly earnings data on Tuesday, August 8th. The construction company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.09. U S Concrete had a return on equity of 25.80% and a net margin of 2.09%. The business had revenue of $340.90 million during the quarter, compared to analysts’ expectations of $342.60 million. During the same quarter last year, the business posted $0.54 EPS. The business’s revenue was up 23.6% on a year-over-year basis. On average, analysts forecast that U S Concrete will post $3.95 EPS for the current fiscal year.
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In other news, VP Jeffrey W. Roberts sold 2,394 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $68.00, for a total value of $162,792.00. Following the completion of the transaction, the vice president now owns 34,422 shares in the company, valued at approximately $2,340,696. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William J. Sandbrook sold 6,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $78.91, for a total value of $512,915.00. Following the completion of the transaction, the chief executive officer now owns 434,069 shares of the company’s stock, valued at approximately $34,252,384.79. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,044 shares of company stock valued at $1,701,933. 5.90% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. OxFORD Asset Management LLP purchased a new position in U S Concrete during the second quarter worth approximately $703,000. Dimensional Fund Advisors LP boosted its position in U S Concrete by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 555,500 shares of the construction company’s stock worth $43,635,000 after buying an additional 3,457 shares during the last quarter. Hood River Capital Management LLC boosted its position in U S Concrete by 52.9% in the second quarter. Hood River Capital Management LLC now owns 386,412 shares of the construction company’s stock worth $30,353,000 after buying an additional 133,660 shares during the last quarter. EAM Investors LLC purchased a new position in U S Concrete during the second quarter worth approximately $2,931,000. Finally, Parametric Portfolio Associates LLC boosted its position in U S Concrete by 74.6% in the second quarter. Parametric Portfolio Associates LLC now owns 83,212 shares of the construction company’s stock worth $6,536,000 after buying an additional 35,560 shares during the last quarter.
U S 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.
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