U.S. Concrete Inc. (NASDAQ:USCR) has been given a $80.00 price target by equities researchers at DA Davidson in a research report issued on Thursday. The firm currently has a a “buy” rating on the stock. DA Davidson’s price objective would suggest a potential upside of 73.42% from the company’s previous close.
USCR has been the subject of a number of other reports. Sidoti raised U.S. Concrete from a “neutral” rating to a “buy” rating and increased their target price for the stock from $72.00 to $90.00 in a research note on Friday, June 10th. SunTrust Banks Inc. began coverage on shares of U.S. Concrete in a research note on Monday, August 8th. They set a “buy” rating and a $75.00 price target for the company. Finally, Zacks Investment Research raised shares of U.S. Concrete from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 6th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. U.S. Concrete presently has a consensus rating of “Buy” and a consensus price target of $77.83.
U.S. Concrete (NASDAQ:USCR) opened at 46.13 on Thursday. The company’s market cap is $688.26 million. The company’s 50-day moving average is $50.02 and its 200-day moving average is $59.12. U.S. Concrete has a 12 month low of $40.42 and a 12 month high of $69.66.
U.S. Concrete (NASDAQ:USCR) last posted its earnings results on Thursday, August 4th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by $0.41. U.S. Concrete had a return on equity of 40.33% and a net margin of 1.18%. The business had revenue of $275.80 million for the quarter, compared to the consensus estimate of $297.94 million. U.S. Concrete’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, equities research analysts anticipate that U.S. Concrete will post $2.99 earnings per share for the current year.
In related news, EVP Niel L. Poulsen acquired 18,000 shares of the business’s stock in a transaction dated Monday, August 8th. The stock was bought at an average price of $56.00 per share, with a total value of $1,008,000.00. Following the acquisition, the executive vice president now owns 41,481 shares in the company, valued at approximately $2,322,936. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jeff L. Davis sold 6,000 shares of the stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $65.04, for a total value of $390,240.00. Following the completion of the sale, the vice president now directly owns 29,130 shares of the company’s stock, valued at approximately $1,894,615.20. The disclosure for this sale can be found here. 6.90% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in the stock. PineBridge Investments L.P. increased its stake in U.S. Concrete by 1.6% in the second quarter. PineBridge Investments L.P. now owns 1,716 shares of the company’s stock valued at $105,000 after buying an additional 27 shares during the last quarter. Acrospire Investment Management LLC increased its stake in U.S. Concrete by 36.7% in the second quarter. Acrospire Investment Management LLC now owns 1,863 shares of the company’s stock valued at $113,000 after buying an additional 500 shares during the last quarter. Teacher Retirement System of Texas increased its stake in U.S. Concrete by 14.3% in the second quarter. Teacher Retirement System of Texas now owns 1,945 shares of the company’s stock valued at $118,000 after buying an additional 244 shares during the last quarter. Invictus RG bought a new stake in U.S. Concrete during the first quarter valued at approximately $134,000. Finally, Bank of Montreal Can bought a new stake in U.S. Concrete during the second quarter valued at approximately $140,000. 98.09% of the stock is owned by institutional investors.
About U.S. Concrete
U.S. Concrete, Inc is a producer of ready-mixed concrete in a range of geographic markets in the United States. The Company conducts its operations through two segments. The ready-mixed concrete segment engages principally in the formulation, production and delivery of ready-mixed concrete to its customers’ job sites.
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