US Concrete (NASDAQ:USCR) Downgraded to Hold at ValuEngine

ValuEngine downgraded shares of US Concrete (NASDAQ:USCR) from a buy rating to a hold rating in a report published on Wednesday morning, ValuEngine reports.

Several other research firms also recently commented on USCR. BNP Paribas started coverage on US Concrete in a report on Wednesday, October 9th. They issued an outperform rating for the company. Sidoti raised their price target on shares of US Concrete from $56.00 to $60.00 and gave the company a buy rating in a report on Monday, October 14th. BidaskClub lowered shares of US Concrete from a buy rating to a hold rating in a research note on Tuesday, November 19th. Stephens cut shares of US Concrete from an overweight rating to an equal rating and decreased their price objective for the company from $60.00 to $47.00 in a report on Monday, November 18th. Finally, DA Davidson decreased their price objective on shares of US Concrete to $56.00 and set a buy rating for the company in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. US Concrete has an average rating of Hold and a consensus target price of $52.29.

Shares of NASDAQ USCR traded up $0.19 during midday trading on Wednesday, hitting $40.19. The stock had a trading volume of 6,890 shares, compared to its average volume of 256,698. The business’s 50 day moving average is $47.03 and its 200-day moving average is $47.26. The company has a market cap of $667.96 million, a P/E ratio of 20.82 and a beta of 1.24. US Concrete has a 52 week low of $30.41 and a 52 week high of $56.22. The company has a quick ratio of 1.12, a current ratio of 1.32 and a debt-to-equity ratio of 2.00.

US Concrete (NASDAQ:USCR) last announced its quarterly earnings results on Friday, November 8th. The construction company reported $1.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.13. The company had revenue of $408.90 million during the quarter, compared to the consensus estimate of $435.92 million. US Concrete had a net margin of 0.88% and a return on equity of 3.91%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.72 earnings per share. As a group, analysts expect that US Concrete will post 1.76 EPS for the current fiscal year.

In related news, VP Herbert A. Burton sold 1,268 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $47.69, for a total transaction of $60,470.92. Following the completion of the sale, the vice president now directly owns 5,681 shares in the company, valued at $270,926.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kurt Matthew Cellar bought 13,600 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average price of $39.83 per share, with a total value of $541,688.00. Following the completion of the transaction, the director now directly owns 62,346 shares of the company’s stock, valued at approximately $2,483,241.18. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 28,057 shares of company stock valued at $1,125,196 and have sold 3,717 shares valued at $176,436. 4.70% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in USCR. John G Ullman & Associates Inc. grew its holdings in US Concrete by 2.7% during the third quarter. John G Ullman & Associates Inc. now owns 6,986 shares of the construction company’s stock valued at $386,000 after purchasing an additional 186 shares during the period. California State Teachers Retirement System grew its stake in shares of US Concrete by 1.2% during the 3rd quarter. California State Teachers Retirement System now owns 24,899 shares of the construction company’s stock valued at $1,376,000 after acquiring an additional 297 shares during the period. Advisory Services Network LLC grew its stake in shares of US Concrete by 15.0% during the 2nd quarter. Advisory Services Network LLC now owns 2,873 shares of the construction company’s stock valued at $142,000 after acquiring an additional 375 shares during the period. Monarch Partners Asset Management LLC grew its stake in shares of US Concrete by 5.9% during the 3rd quarter. Monarch Partners Asset Management LLC now owns 10,330 shares of the construction company’s stock valued at $571,000 after acquiring an additional 580 shares during the period. Finally, Steward Partners Investment Advisory LLC purchased a new stake in US Concrete in the 2nd quarter worth approximately $29,000. Institutional investors and hedge funds own 97.99% of the company’s stock.

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

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Analyst Recommendations for US Concrete (NASDAQ:USCR)

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