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

Suncrete (NASDAQ:RMIX) reached a new 52-week low on Friday. The stock traded as low as $8.32 and last traded at $8.7740, with a volume of 38,758 shares changing hands. The stock had previously closed at $9.20.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on RMIX shares. Jefferies Financial Group reissued 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 shares of Suncrete from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 3rd. B. Riley Financial restated 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. Finally, Weiss Ratings downgraded shares of Suncrete from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, October 23rd. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $22.25.

Suncrete Trading Down 3.0%

The company has a current ratio of 1.40, a quick ratio of 1.15 and a debt-to-equity ratio of 0.56. The company has a market cap of $655.53 million, a PE ratio of -63.86 and a beta of 0.93. The company has a fifty day simple moving average of $12.37 and a two-hundred day simple moving average of $16.03.

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

Institutional Trading of Suncrete

Several hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC acquired a new position in Suncrete during the 2nd quarter worth approximately $29,000. State of Alaska Department of Revenue purchased a new stake in shares of Suncrete in the 3rd quarter valued at approximately $29,000. Central Pacific Bank Trust Division purchased a new stake in shares of Suncrete in the 3rd quarter valued at approximately $32,000. Susquehanna International Group LLP purchased a new stake in shares of Suncrete in the 2nd quarter valued at approximately $285,000. Finally, Kornitzer Capital Management Inc. KS acquired a new stake in shares of Suncrete in the 3rd quarter valued at $719,000. Institutional investors and hedge funds own 71.07% of the company’s stock.

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.