Exane BNP Paribas assumed coverage on shares of US Concrete (NASDAQ:USCR) in a research note published on Wednesday, The Fly reports. The firm issued an outperform rating on the construction company’s stock.
A number of other brokerages also recently issued reports on USCR. BidaskClub raised US Concrete from a hold rating to a buy rating in a report on Friday, September 27th. BNP Paribas initiated coverage on US Concrete in a report on Wednesday. They issued an outperform rating for the company. ValuEngine downgraded US Concrete from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Stifel Nicolaus cut shares of US Concrete from a buy rating to a hold rating and raised their target price for the stock from $51.00 to $53.00 in a report on Thursday, July 18th. Finally, Zacks Investment Research reissued a sell rating on shares of US Concrete in a report on Saturday, July 27th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Buy and an average price target of $54.60.
USCR stock opened at $48.69 on Wednesday. US Concrete has a twelve month low of $27.68 and a twelve month high of $56.22. The company has a quick ratio of 1.09, a current ratio of 1.29 and a debt-to-equity ratio of 2.16. The stock has a market cap of $864.47 million, a P/E ratio of 83.69 and a beta of 1.35. The business’s 50-day moving average price is $46.73 and its 200-day moving average price is $46.69.
US Concrete (NASDAQ:USCR) last posted its quarterly earnings data on Friday, August 9th. The construction company reported $0.23 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.62). The business had revenue of $367.50 million for the quarter, compared to analysts’ expectations of $408.18 million. US Concrete had a net margin of 1.06% and a return on equity of 3.05%. US Concrete’s revenue was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.08 EPS. On average, equities research analysts expect that US Concrete will post 1.89 earnings per share for the current fiscal year.
In other US Concrete news, VP Matthew Emmert sold 1,699 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $47.55, for a total value of $80,787.45. Following the sale, the vice president now owns 2,460 shares in the company, valued at $116,973. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Herbert A. Burton sold 1,268 shares of the firm’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 owns 5,681 shares in the company, valued at approximately $270,926.89. The disclosure for this sale can be found here. Insiders sold 3,717 shares of company stock worth $176,196 in the last three months. 4.70% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in the business. BlackRock Inc. increased its stake in shares of US Concrete by 1.1% during the second quarter. BlackRock Inc. now owns 2,329,667 shares of the construction company’s stock valued at $115,761,000 after acquiring an additional 26,048 shares during the period. Vanguard Group Inc. increased its stake in shares of US Concrete by 3.4% during the second quarter. Vanguard Group Inc. now owns 1,095,808 shares of the construction company’s stock valued at $54,450,000 after acquiring an additional 36,278 shares during the period. Lomas Capital Management LLC increased its stake in shares of US Concrete by 19.5% during the second quarter. Lomas Capital Management LLC now owns 751,649 shares of the construction company’s stock valued at $37,349,000 after acquiring an additional 122,851 shares during the period. Victory Capital Management Inc. acquired a new position in shares of US Concrete during the second quarter valued at approximately $31,006,000. Finally, Rothschild & Co. Asset Management US Inc. increased its stake in shares of US Concrete by 8.4% during the second quarter. Rothschild & Co. Asset Management US Inc. now owns 419,936 shares of the construction company’s stock valued at $20,867,000 after acquiring an additional 32,568 shares during the period. Institutional investors own 97.46% 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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