US Concrete (NASDAQ:USCR) Announces Earnings Results

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US Concrete (NASDAQ:USCR) released its quarterly earnings data on Friday. The construction company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.62), Briefing.com reports. US Concrete had a return on equity of 8.76% and a net margin of 2.06%. The business had revenue of $367.50 million during the quarter, compared to analyst estimates of $408.18 million. During the same period in the previous year, the company earned $1.08 EPS. US Concrete’s revenue was down 9.1% on a year-over-year basis. US Concrete updated its FY 2019 guidance to EPS.

US Concrete stock opened at $45.04 on Monday. US Concrete has a 52-week low of $27.68 and a 52-week high of $54.95. The stock has a fifty day simple moving average of $48.30. The firm has a market capitalization of $743.38 million, a price-to-earnings ratio of 23.34, a P/E/G ratio of 1.67 and a beta of 1.22. The company has a quick ratio of 1.06, a current ratio of 1.25 and a debt-to-equity ratio of 2.21.

USCR has been the subject of several recent research reports. Stifel Nicolaus lowered shares of US Concrete from a “buy” rating to a “hold” rating and increased their price objective for the stock from $51.00 to $53.00 in a research report on Thursday, July 18th. Zacks Investment Research reissued a “sell” rating on shares of US Concrete in a research report on Saturday, July 27th. BidaskClub lowered shares of US Concrete from a “buy” rating to a “hold” rating in a research report on Thursday, June 13th. ValuEngine raised shares of US Concrete from a “hold” rating to a “buy” rating in a research report on Tuesday, July 2nd. Finally, SunTrust Banks lowered shares of US Concrete from a “positive” rating to a “hold” rating and set a $43.00 price objective for the company. in a research report on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $54.60.

In related news, CFO John E. Kunz sold 1,982 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $47.33, for a total transaction of $93,808.06. Following the completion of the sale, the chief financial officer now directly owns 12,592 shares of the company’s stock, valued at approximately $595,979.36. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Paul M. Jolas sold 5,053 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $46.47, for a total transaction of $234,812.91. Following the sale, the senior vice president now directly owns 18,781 shares of the company’s stock, valued at $872,753.07. The disclosure for this sale can be found here. Insiders sold 12,348 shares of company stock valued at $575,618 in the last three months. Company insiders own 4.70% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in USCR. ACK Asset Management LLC acquired a new stake in US Concrete during the 1st quarter valued at $10,618,000. Prudential Financial Inc. grew its holdings in US Concrete by 565.6% during the 2nd quarter. Prudential Financial Inc. now owns 173,369 shares of the construction company’s stock valued at $8,615,000 after purchasing an additional 147,322 shares in the last quarter. Penn Capital Management Co. Inc. acquired a new stake in US Concrete during the 1st quarter valued at $2,531,000. Red Cedar Management LP boosted its stake in US Concrete by 29.4% during the 1st quarter. Red Cedar Management LP now owns 220,000 shares of the construction company’s stock valued at $9,112,000 after acquiring an additional 50,000 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in US Concrete by 41.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 161,669 shares of the construction company’s stock valued at $8,029,000 after acquiring an additional 47,082 shares during the last quarter. 95.33% of the stock is owned by institutional investors and hedge funds.

About US Concrete

U.S. Concrete, Inc, through its subsidiaries, produces and sells ready-mixed concrete, aggregates, and concrete-related products and services to the construction industry in the United States, U.S. Virgin Islands, and Canada. It operates through two segments, Ready-Mixed Concrete and Aggregate Products.

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Earnings History for US Concrete (NASDAQ:USCR)

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