According to Zacks, “U.S. Concrete Inc. operates as a provider of ready-mixed concrete and concrete-related products and services to the construction industry in the United States. The Company operates in two segments: ready-mixed concrete and concrete-related products; and precast concrete. The Company’s ready-mixed concrete and concrete-related products segment produces and sells ready-mixed concrete, aggregates (crushed stone, sand and gravel), concrete masonry and building materials. Its precast concrete products segment produces and sells precast concrete products. Markets served by the Company include west Texas, northern California, New Jersey, New York, Washington, D.C., Oklahoma and the mid-Atlantic region. U.S. Concrete Inc. is based in Houston, Texas, USA. “
USCR has been the topic of a number of other research reports. DA Davidson set a $80.00 target price on U.S. Concrete and gave the company a buy rating in a research report on Thursday, October 6th. SunTrust Banks Inc. began coverage on U.S. Concrete in a research report on Monday, August 8th. They issued a buy rating and a $75.00 target price on the stock. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. U.S. Concrete currently has an average rating of Buy and a consensus target price of $77.83.
Shares of U.S. Concrete (NASDAQ:USCR) opened at 49.80 on Wednesday. The firm has a 50 day moving average price of $48.91 and a 200-day moving average price of $58.67. U.S. Concrete has a 12 month low of $40.42 and a 12 month high of $69.66. The company’s market cap is $743.02 million.
U.S. Concrete (NASDAQ:USCR) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.95 by $0.41. U.S. Concrete had a net margin of 1.18% and a return on equity of 40.33%. The firm earned $275.80 million during the quarter, compared to analyst estimates of $297.94 million. U.S. Concrete’s revenue for the quarter was up 12.7% on a year-over-year basis. Analysts anticipate that U.S. Concrete will post $2.99 earnings per share for the current fiscal year.
In other news, VP Jeff L. Davis sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $65.04, for a total transaction of $390,240.00. Following the completion of the sale, the vice president now owns 29,130 shares in the company, valued at $1,894,615.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Niel L. Poulsen acquired 18,000 shares of U.S. Concrete stock in a transaction dated Monday, August 8th. The shares were purchased 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 of the company’s stock, valued at $2,322,936. The disclosure for this purchase can be found here. Company insiders own 6.90% of the company’s stock.
Several large investors have recently modified their holdings of USCR. BlackRock Fund Advisors boosted its stake in shares of U.S. Concrete by 127.5% in the first quarter. BlackRock Fund Advisors now owns 897,377 shares of the company’s stock valued at $53,466,000 after buying an additional 502,993 shares during the period. Bowen Hanes & Co. Inc. bought a new stake in shares of U.S. Concrete during the second quarter valued at about $15,532,000. GM Advisory Group Inc. bought a new stake in shares of U.S. Concrete during the second quarter valued at about $13,421,000. Kornitzer Capital Management Inc. KS bought a new stake in shares of U.S. Concrete during the second quarter valued at about $10,457,000. Finally, Eaton Vance Management bought a new stake in shares of U.S. Concrete during the second quarter valued at about $8,918,000. Institutional investors and hedge funds own 98.09% of the company’s stock.
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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