SunTrust Banks Lowers US Concrete (USCR) to Hold

US Concrete (NASDAQ:USCR) was downgraded by equities research analysts at SunTrust Banks from a “positive” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, The Fly reports. They currently have a $43.00 target price on the construction company’s stock. SunTrust Banks’ price target indicates a potential downside of 11.81% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. BidaskClub upgraded US Concrete from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 22nd. ValuEngine upgraded US Concrete from a “sell” rating to a “hold” rating in a research note on Tuesday, March 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $55.33.

USCR stock opened at $48.76 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 1.25 and a debt-to-equity ratio of 2.21. The stock has a market capitalization of $779.94 million, a P/E ratio of 25.26, a PEG ratio of 1.76 and a beta of 1.29. US Concrete has a 1-year low of $27.68 and a 1-year high of $65.85.



US Concrete (NASDAQ:USCR) last announced its earnings results on Thursday, May 9th. The construction company reported ($0.10) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.01). The firm had revenue of $333.10 million during the quarter, compared to the consensus estimate of $342.80 million. US Concrete had a return on equity of 8.76% and a net margin of 2.06%. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.23) earnings per share. On average, sell-side analysts anticipate that US Concrete will post 2.67 EPS for the current fiscal year.

In related news, EVP Niel L. Poulsen sold 5,782 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $42.87, for a total value of $247,874.34. Following the sale, the executive vice president now owns 9,575 shares in the company, valued at $410,480.25. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Kevin Kohutek sold 5,100 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $40.75, for a total value of $207,825.00. Following the completion of the sale, the vice president now owns 5,637 shares in the company, valued at approximately $229,707.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,432 shares of company stock worth $643,221. 4.70% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. acquired a new position in US Concrete in the 4th quarter valued at $26,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in US Concrete by 82.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,132 shares of the construction company’s stock valued at $40,000 after purchasing an additional 512 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in US Concrete by 55,716.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,349 shares of the construction company’s stock valued at $139,000 after purchasing an additional 3,343 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in US Concrete in the 1st quarter valued at $140,000. Finally, Crossmark Global Holdings Inc. acquired a new position in US Concrete in the 1st quarter valued at $200,000. Institutional investors and hedge funds own 98.51% of the company’s stock.

US Concrete Company Profile

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, U.S. Virgin Islands, and Canada. It operates through two segments, Ready-Mixed Concrete and Aggregate Products.

See Also: What is a Buy-Side Analyst?

The Fly

Receive News & Ratings for US Concrete Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for US Concrete and related companies with MarketBeat.com's FREE daily email newsletter.