US Concrete (USCR) Reaches New 1-Year Low at $34.16

US Concrete Inc (NASDAQ:USCR) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $34.16 and last traded at $34.28, with a volume of 6448 shares. The stock had previously closed at $36.00.

A number of research analysts recently issued reports on USCR shares. BidaskClub lowered US Concrete from a “hold” rating to a “sell” rating in a report on Friday, September 28th. SunTrust Banks set a $70.00 target price on US Concrete and gave the stock a “buy” rating in a report on Monday, August 6th. Citigroup lowered their target price on US Concrete from $77.00 to $74.00 and set a “$53.95” rating on the stock in a report on Monday, July 23rd. Sidoti started coverage on US Concrete in a report on Monday. They set a “buy” rating on the stock. Finally, DA Davidson reaffirmed a “buy” rating and set a $87.00 target price (down from $95.00) on shares of US Concrete in a report on Thursday, October 11th. Three research analysts have rated the stock with a sell rating and five have issued a buy rating to the stock. US Concrete currently has a consensus rating of “Hold” and a consensus price target of $80.00.

The firm has a market capitalization of $771.10 million, a PE ratio of 13.28, a PEG ratio of 1.26 and a beta of 1.06. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.41 and a quick ratio of 1.21.

US Concrete (NASDAQ:USCR) last released its earnings results on Tuesday, August 7th. The construction company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.21). The firm had revenue of $404.20 million for the quarter, compared to analyst estimates of $390.55 million. US Concrete had a return on equity of 12.82% and a net margin of 2.34%. US Concrete’s revenue was up 18.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.95 earnings per share. As a group, research analysts predict that US Concrete Inc will post 3.63 EPS for the current fiscal year.

In other US Concrete news, Chairman William J. Sandbrook sold 9,000 shares of the firm’s stock in a transaction dated Thursday, July 26th. The stock was sold at an average price of $51.45, for a total transaction of $463,050.00. Following the completion of the sale, the chairman now directly owns 390,670 shares in the company, valued at approximately $20,099,971.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kurt Matthew Cellar acquired 2,000 shares of the firm’s stock in a transaction on Tuesday, September 4th. The shares were acquired at an average price of $48.30 per share, with a total value of $96,600.00. Following the completion of the transaction, the director now directly owns 45,309 shares in the company, valued at approximately $2,188,424.70. The disclosure for this purchase can be found here. In the last three months, insiders purchased 8,650 shares of company stock worth $424,178 and sold 9,390 shares worth $480,896. Company insiders own 5.30% of the company’s stock.

Several institutional investors have recently made changes to their positions in USCR. Essex Investment Management Co. LLC lifted its holdings in US Concrete by 15.2% in the 3rd quarter. Essex Investment Management Co. LLC now owns 29,884 shares of the construction company’s stock worth $1,370,000 after purchasing an additional 3,939 shares during the last quarter. Malaga Cove Capital LLC increased its position in US Concrete by 17.4% in the 3rd quarter. Malaga Cove Capital LLC now owns 21,121 shares of the construction company’s stock worth $974,000 after buying an additional 3,134 shares during the period. Northern Trust Corp increased its position in US Concrete by 3.1% in the 2nd quarter. Northern Trust Corp now owns 209,402 shares of the construction company’s stock worth $10,994,000 after buying an additional 6,221 shares during the period. Bank of New York Mellon Corp increased its position in US Concrete by 51.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,078,115 shares of the construction company’s stock worth $109,101,000 after buying an additional 709,745 shares during the period. Finally, Advisors Asset Management Inc. increased its position in US Concrete by 68.3% in the 2nd quarter. Advisors Asset Management Inc. now owns 11,700 shares of the construction company’s stock worth $614,000 after buying an additional 4,747 shares during the period.

US Concrete Company Profile (NASDAQ:USCR)

U.S. Concrete, Inc, through its subsidiaries, produces and sells ready-mixed concrete, aggregates, and concrete-related products and services to the construction industry in the United States and Canada. It operates through two segments, Ready-Mixed Concrete and Aggregate Products. The Ready-Mixed Concrete segment engages in the formulation, preparation, and delivery of ready-mixed concrete to customers' job sites; and the provision of various services that include the formulation of mixtures for specific design uses, on-site and lab-based product quality control, and customized delivery programs.

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