U S Concrete, Inc. (NASDAQ:USCR) – Equities researchers at DA Davidson lifted their FY2018 earnings per share estimates for shares of U S Concrete in a note issued to investors on Monday. DA Davidson analyst B. Thielman now anticipates that the construction company will earn $4.58 per share for the year, up from their prior forecast of $4.37. DA Davidson currently has a “Buy” rating on the stock.
A number of other equities analysts have also issued reports on USCR. BidaskClub upgraded shares of U S Concrete from a “sell” rating to a “hold” rating in a research report on Wednesday. ValuEngine lowered shares of U S Concrete from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Stifel Nicolaus reiterated a “buy” rating and set a $98.00 target price on shares of U S Concrete in a research report on Thursday, September 28th. Zacks Investment Research upgraded shares of U S Concrete from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a research report on Tuesday, August 15th. Finally, Citigroup upped their target price on shares of U S Concrete to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $89.00.
U S Concrete (NASDAQ:USCR) last released its quarterly earnings results on Friday, November 3rd. The construction company reported $0.99 EPS for the quarter, missing the Zacks’ consensus estimate of $1.46 by ($0.47). U S Concrete had a net margin of 0.99% and a return on equity of 22.33%. The firm had revenue of $354.60 million during the quarter, compared to analyst estimates of $364.16 million. During the same quarter last year, the firm earned $1.19 earnings per share. U S Concrete’s quarterly revenue was up 7.9% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in U S Concrete by 4.9% in the second quarter. BlackRock Inc. now owns 1,825,946 shares of the construction company’s stock valued at $143,428,000 after buying an additional 85,391 shares during the period. Bank of New York Mellon Corp increased its stake in U S Concrete by 3.1% in the third quarter. Bank of New York Mellon Corp now owns 930,728 shares of the construction company’s stock valued at $71,015,000 after purchasing an additional 27,548 shares in the last quarter. Vanguard Group Inc. increased its stake in U S Concrete by 1.8% in the second quarter. Vanguard Group Inc. now owns 793,426 shares of the construction company’s stock valued at $62,323,000 after purchasing an additional 13,675 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in U S Concrete by 1.8% in the third quarter. Dimensional Fund Advisors LP now owns 565,727 shares of the construction company’s stock valued at $43,165,000 after purchasing an additional 10,227 shares in the last quarter. Finally, Janus Henderson Group PLC bought a new stake in U S Concrete in the second quarter valued at approximately $44,346,000.
In related news, Director Colin Mcgill Sutherland sold 1,400 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $83.28, for a total value of $116,592.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kurt Matthew Cellar sold 10,060 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $80.11, for a total transaction of $805,906.60. Following the completion of the transaction, the director now owns 40,081 shares in the company, valued at $3,210,888.91. The disclosure for this sale can be found here. Insiders sold 32,954 shares of company stock worth $2,648,939 over the last 90 days. 5.90% of the stock is currently owned by company insiders.
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U S Concrete Company Profile
U.S. Concrete, Inc is a producer of ready-mixed concrete in select geographic markets in the United States. The Company conducts its operations through two business segments: ready-mixed concrete and aggregate products. 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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