US Concrete (USCR) Upgraded by BidaskClub to “Sell”

US Concrete (NASDAQ:USCR) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a note issued to investors on Friday.

Other analysts also recently issued reports about the stock. Citigroup dropped their target price on shares of US Concrete from $77.00 to $74.00 and set a “$53.95” rating on the stock in a report on Monday, July 23rd. DA Davidson reiterated a “buy” rating and issued a $87.00 target price (down from $95.00) on shares of US Concrete in a report on Thursday, October 11th. SunTrust Banks set a $70.00 target price on shares of US Concrete and gave the stock a “buy” rating in a report on Monday, August 6th. Sidoti initiated coverage on shares of US Concrete in a report on Monday, October 15th. They issued a “buy” rating on the stock. Finally, Zacks Investment Research downgraded shares of US Concrete from a “hold” rating to a “sell” rating in a report on Saturday, October 13th. Three equities research analysts have rated the stock with a sell rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $80.00.

NASDAQ USCR opened at $36.36 on Friday. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.21 and a current ratio of 1.28. US Concrete has a 12 month low of $27.68 and a 12 month high of $86.35. The company has a market capitalization of $611.50 million, a P/E ratio of 17.91, a price-to-earnings-growth ratio of 1.11 and a beta of 1.38.

US Concrete (NASDAQ:USCR) last released its earnings results on Thursday, November 1st. The construction company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.42). US Concrete had a return on equity of 10.56% and a net margin of 1.69%. The business had revenue of $404.27 million during the quarter, compared to the consensus estimate of $411.35 million. During the same quarter in the previous year, the firm earned $1.45 earnings per share. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. On average, research analysts expect that US Concrete will post 3.29 EPS for the current fiscal year.

In other news, CFO John E. Kunz bought 1,000 shares of the company’s stock in a transaction dated Thursday, August 9th. The shares were acquired at an average cost of $51.76 per share, with a total value of $51,760.00. Following the completion of the transaction, the chief financial officer now directly owns 13,356 shares in the company, valued at approximately $691,306.56. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kurt Matthew Cellar bought 2,000 shares of the company’s stock in a transaction dated Tuesday, September 4th. The stock was purchased at an average cost of $48.30 per share, for a total transaction of $96,600.00. Following the completion of the transaction, the director now owns 45,309 shares of the company’s stock, valued at $2,188,424.70. The disclosure for this purchase can be found here. Over the last three months, insiders bought 8,650 shares of company stock worth $424,178 and sold 390 shares worth $17,846. Company insiders own 5.30% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in USCR. California Public Employees Retirement System increased its position in shares of US Concrete by 29.2% in the first quarter. California Public Employees Retirement System now owns 28,266 shares of the construction company’s stock worth $1,707,000 after acquiring an additional 6,389 shares in the last quarter. A.R.T. Advisors LLC purchased a new position in shares of US Concrete in the first quarter worth approximately $314,000. LPL Financial LLC increased its position in shares of US Concrete by 33.5% in the first quarter. LPL Financial LLC now owns 4,679 shares of the construction company’s stock worth $283,000 after acquiring an additional 1,173 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in shares of US Concrete by 2,434.0% in the first quarter. Cubist Systematic Strategies LLC now owns 5,068 shares of the construction company’s stock worth $306,000 after acquiring an additional 4,868 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of US Concrete by 649.6% in the first quarter. Millennium Management LLC now owns 24,505 shares of the construction company’s stock worth $1,480,000 after acquiring an additional 21,236 shares in the last quarter.

About US Concrete

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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Analyst Recommendations for US Concrete (NASDAQ:USCR)

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