Suncrete (NASDAQ:RMIX) Hits New 1-Year Low – Here’s What Happened

Shares of Suncrete (NASDAQ:RMIX) hit a new 52-week low during mid-day trading on Friday. The company traded as low as $8.76 and last traded at $9.0150, with a volume of 99,502 shares. The stock had previously closed at $9.35.

Analysts Set New Price Targets

Several brokerages have commented on RMIX. Wall Street Zen lowered Suncrete from a “sell” rating to a “strong sell” rating in a report on Saturday, October 3rd. Weiss Ratings downgraded Suncrete from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, September 24th. B. Riley Financial reiterated a “buy” rating and set a $25.00 target price (down from $26.00) on shares of Suncrete in a research report on Wednesday, August 19th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $22.00 price target on shares of Suncrete in a research note on Tuesday, August 18th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $22.25.

Suncrete Stock Down 4.4%

The stock has a market cap of $656.71 million, a PE ratio of -63.42 and a beta of 0.83. The stock has a 50-day moving average price of $13.87. The company has a quick ratio of 1.15, a current ratio of 1.40 and a debt-to-equity ratio of 0.56.

Suncrete (NASDAQ:RMIX) last issued its earnings results on Friday, August 14th. The company reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.70). The business had revenue of $97.23 million for the quarter, compared to the consensus estimate of $104.93 million. The company’s quarterly revenue was up 146.2% compared to the same quarter last year. Sell-side analysts anticipate that Suncrete will post -0.01 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RMIX. NewEdge Advisors LLC purchased a new position in Suncrete in the second quarter worth approximately $29,000. State of Alaska Department of Revenue acquired a new stake in Suncrete during the third quarter worth $29,000. Central Pacific Bank Trust Division acquired a new stake in Suncrete during the third quarter worth $32,000. Susquehanna International Group LLP purchased a new stake in Suncrete in the second quarter valued at $285,000. Finally, State Street Corp purchased a new stake in Suncrete in the second quarter valued at $4,358,000. 71.07% of the stock is currently owned by institutional investors and hedge funds.

Suncrete Company Profile

Suncrete is a construction-materials company associated with the production and sale of ready-mixed concrete and related concrete products. Its operations support building and infrastructure projects by supplying concrete materials used in residential, commercial, industrial and other construction applications.

The company’s product and service offerings have included ready-mix concrete, concrete masonry products and related construction materials. Suncrete has historically served contractors, builders, developers and other customers involved in construction and development projects.

Publicly available information about Suncrete’s current operations, geographic footprint and leadership is limited.