USG (NYSE:USG) had its price target increased by Buckingham Research from $34.00 to $42.00 in a research report released on Monday morning. The firm currently has a neutral rating on the construction company’s stock.
A number of other brokerages have also recently issued reports on USG. Zacks Investment Research upgraded USG from a hold rating to a buy rating and set a $43.00 price objective on the stock in a research note on Saturday, January 6th. Credit Suisse Group reiterated an underperform rating and set a $36.00 price objective (up previously from $26.00) on shares of USG in a research note on Monday, January 22nd. They noted that the move was a valuation call. Citigroup upped their price objective on USG from $37.00 to $42.00 and gave the stock a neutral rating in a research note on Thursday, January 25th. Jefferies Group restated a hold rating and issued a $36.00 price target on shares of USG in a research note on Friday, February 2nd. Finally, Nomura increased their price target on USG from $39.00 to $44.00 and gave the company a neutral rating in a research note on Tuesday, March 27th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $38.27.
Shares of USG stock opened at $41.02 on Monday. USG has a 12-month low of $25.60 and a 12-month high of $41.45. The company has a market cap of $5,750.87, a PE ratio of 22.79, a P/E/G ratio of 1.24 and a beta of 1.11. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.58.
USG announced that its board has authorized a share repurchase plan on Thursday, February 1st that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the construction company to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
Hedge funds and other institutional investors have recently modified their holdings of the business. Captrust Financial Advisors acquired a new position in USG in the 4th quarter valued at $160,000. SG Americas Securities LLC acquired a new position in USG in the 3rd quarter valued at $170,000. State of Alaska Department of Revenue acquired a new position in USG in the 4th quarter valued at $196,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in USG by 45.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,351 shares of the construction company’s stock valued at $206,000 after buying an additional 1,681 shares in the last quarter. Finally, Creative Planning acquired a new position in USG in the 4th quarter valued at $235,000. 82.14% of the stock is currently owned by hedge funds and other institutional investors.
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USG Company Profile
USG Corporation, through its subsidiaries, is a manufacturer and distributor of building materials. The Company’s segments include Gypsum, Ceilings and USG Boral Building Products (UBBP). It produces a range of products for use in new residential, new nonresidential, and residential and nonresidential repair and remodel construction, as well as products used in certain industrial processes.
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