Equities research analysts predict that US Concrete Inc (NASDAQ:USCR) will report $328.62 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for US Concrete’s earnings, with the highest sales estimate coming in at $342.82 million and the lowest estimate coming in at $309.00 million. US Concrete reported sales of $299.13 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 9.9%. The business is expected to issue its next earnings results on Thursday, May 3rd.
According to Zacks, analysts expect that US Concrete will report full year sales of $328.62 million for the current year, with estimates ranging from $1.52 billion to $1.55 billion. For the next fiscal year, analysts forecast that the business will post sales of $1.68 billion per share, with estimates ranging from $1.66 billion to $1.69 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for US Concrete.
US Concrete (NASDAQ:USCR) last issued its quarterly earnings results on Thursday, March 1st. The construction company reported $0.50 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.27). US Concrete had a net margin of 1.91% and a return on equity of 17.54%. The company had revenue of $341.35 million for the quarter, compared to analyst estimates of $354.33 million. During the same quarter in the previous year, the company posted $0.82 EPS. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year.
A number of brokerages have issued reports on USCR. BidaskClub upgraded shares of US Concrete from a “sell” rating to a “hold” rating in a research note on Wednesday, December 6th. Stifel Nicolaus restated a “buy” rating and set a $88.00 price target on shares of US Concrete in a research note on Friday, March 2nd. Zacks Investment Research lowered shares of US Concrete from a “buy” rating to a “hold” rating in a research note on Tuesday. ValuEngine lowered shares of US Concrete from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, DA Davidson cut their price target on shares of US Concrete to $98.00 and set a “buy” rating on the stock in a research note on Friday, March 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. US Concrete currently has a consensus rating of “Hold” and an average target price of $89.80.
US Concrete (NASDAQ:USCR) opened at $63.00 on Friday. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.26 and a current ratio of 1.50. US Concrete has a 52 week low of $58.75 and a 52 week high of $86.35. The stock has a market cap of $1,095.99, a P/E ratio of 24.92, a price-to-earnings-growth ratio of 1.31 and a beta of 1.02.
In other news, VP Jeff L. Davis sold 12,000 shares of the company’s stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $82.41, for a total value of $988,920.00. Following the sale, the vice president now directly owns 13,022 shares of the company’s stock, valued at approximately $1,073,143.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Ronnie A. Pruitt sold 500 shares of the company’s stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $80.20, for a total transaction of $40,100.00. Following the completion of the sale, the chief operating officer now directly owns 18,156 shares in the company, valued at $1,456,111.20. The disclosure for this sale can be found here. Insiders sold a total of 64,590 shares of company stock worth $5,242,807 over the last ninety days. Insiders own 5.90% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in USCR. LS Investment Advisors LLC boosted its holdings in shares of US Concrete by 293.3% in the 4th quarter. LS Investment Advisors LLC now owns 2,065 shares of the construction company’s stock valued at $173,000 after acquiring an additional 1,540 shares during the last quarter. Aperio Group LLC purchased a new stake in shares of US Concrete in the 3rd quarter valued at $210,000. Commonwealth Equity Services Inc purchased a new stake in shares of US Concrete in the 3rd quarter valued at $217,000. Aviance Capital Management LLC purchased a new stake in shares of US Concrete in the 4th quarter valued at $221,000. Finally, Deprince Race & Zollo Inc. purchased a new stake in shares of US Concrete in the 3rd quarter valued at $229,000.
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About US Concrete
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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