US Concrete Inc (NASDAQ:USCR) EVP Niel L. Poulsen sold 12,957 shares of US Concrete stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $70.00, for a total transaction of $906,990.00. Following the sale, the executive vice president now directly owns 33,690 shares in the company, valued at approximately $2,358,300. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Shares of US Concrete Inc (NASDAQ:USCR) opened at 69.35 on Tuesday. The company’s 50-day moving average is $65.57 and its 200 day moving average is $58.02. US Concrete Inc has a 1-year low of $42.82 and a 1-year high of $71.35. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 127.01 and a beta of 1.19.
US Concrete (NASDAQ:USCR) last released its quarterly earnings data on Tuesday, February 28th. The company reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.12. US Concrete had a net margin of 4.41% and a return on equity of 27.73%. The business earned $318.80 million during the quarter, compared to analyst estimates of $313.92 million. During the same quarter last year, the business earned $0.55 earnings per share. US Concrete’s quarterly revenue was up 20.9% compared to the same quarter last year. Equities analysts anticipate that US Concrete Inc will post $3.56 EPS for the current year.
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Several large investors have recently made changes to their positions in USCR. Sterling Capital Management LLC increased its stake in shares of US Concrete by 1.5% in the second quarter. Sterling Capital Management LLC now owns 245,557 shares of the company’s stock valued at $14,957,000 after buying an additional 3,516 shares in the last quarter. Royal Bank of Canada increased its stake in shares of US Concrete by 405.7% in the second quarter. Royal Bank of Canada now owns 35,397 shares of the company’s stock valued at $2,157,000 after buying an additional 28,398 shares in the last quarter. First American Bank increased its stake in shares of US Concrete by 1.6% in the third quarter. First American Bank now owns 5,780 shares of the company’s stock valued at $266,000 after buying an additional 90 shares in the last quarter. 1st Global Advisors Inc. purchased a new stake in shares of US Concrete during the third quarter valued at $444,000. Finally, AGF Investments Inc. increased its stake in shares of US Concrete by 234.5% in the third quarter. AGF Investments Inc. now owns 101,042 shares of the company’s stock valued at $4,652,000 after buying an additional 70,833 shares in the last quarter.
A number of brokerages have recently weighed in on USCR. Zacks Investment Research raised shares of US Concrete from a “strong sell” rating to a “hold” rating in a research note on Friday, January 6th. TheStreet lowered shares of US Concrete from a “b+” rating to a “c+” rating in a research note on Tuesday, March 14th. DA Davidson reaffirmed a “buy” rating and set a $80.00 target price on shares of US Concrete in a research note on Friday, March 3rd. Finally, Stifel Nicolaus lifted their target price on shares of US Concrete to $76.00 in a research note on Wednesday, March 1st. One research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $78.83.
About US 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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