U.S. Concrete (USCR) Downgraded by BidaskClub to Strong Sell

U.S. Concrete (NASDAQ:USCR) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday.

Several other brokerages have also commented on USCR. Zacks Investment Research upgraded shares of U.S. Concrete from a “strong sell” rating to a “hold” rating in a research note on Saturday, January 6th. DA Davidson lowered their price objective on shares of U.S. Concrete to $98.00 and set a “buy” rating on the stock in a research report on Friday, March 2nd. Stephens reissued a “buy” rating and set a $84.00 price objective on shares of U.S. Concrete in a research report on Tuesday, March 6th. Stifel Nicolaus reissued a “buy” rating and set a $88.00 price objective on shares of U.S. Concrete in a research report on Friday, March 2nd. Finally, TheStreet downgraded shares of U.S. Concrete from a “b” rating to a “c” rating in a research report on Wednesday, March 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $88.60.

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NASDAQ:USCR traded up $0.15 during midday trading on Tuesday, hitting $57.80. 473,780 shares of the company were exchanged, compared to its average volume of 356,695. U.S. Concrete has a fifty-two week low of $57.15 and a fifty-two week high of $86.35. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.50 and a quick ratio of 1.26. The firm has a market capitalization of $998.33, a P/E ratio of 21.33, a P/E/G ratio of 1.25 and a beta of 0.96.

U.S. Concrete (NASDAQ:USCR) last announced its quarterly earnings results on Thursday, March 1st. The construction company reported $0.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.27). U.S. Concrete had a return on equity of 17.54% and a net margin of 1.91%. 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 prior year, the business earned $0.82 earnings per share. U.S. Concrete’s revenue was up 7.1% compared to the same quarter last year. sell-side analysts anticipate that U.S. Concrete will post 4.75 EPS for the current year.

In other U.S. Concrete news, Vice Chairman William J. Sandbrook sold 9,000 shares of the firm’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $82.38, for a total transaction of $741,420.00. Following the transaction, the insider now directly owns 423,710 shares of the company’s stock, valued at approximately $34,905,229.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Ronnie A. Pruitt sold 500 shares of the firm’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $83.15, for a total transaction of $41,575.00. Following the transaction, the chief operating officer now directly owns 17,656 shares in the company, valued at $1,468,096.40. The disclosure for this sale can be found here. Insiders have sold a total of 29,840 shares of company stock worth $2,177,909 over the last three months. 5.30% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the business. LS Investment Advisors LLC boosted its holdings in shares of U.S. Concrete by 293.3% in the fourth 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 in the last quarter. Aviance Capital Management LLC purchased a new stake in shares of U.S. Concrete in the fourth quarter valued at about $221,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of U.S. Concrete in the fourth quarter valued at about $242,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of U.S. Concrete in the fourth quarter valued at about $311,000. Finally, Paloma Partners Management Co purchased a new stake in shares of U.S. Concrete in the fourth quarter valued at about $396,000.

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U.S. Concrete Company Profile

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 and Canada. It operates through two segments, Ready-Mixed Concrete and Aggregate Products. The Ready-Mixed Concrete segment engages in the formulation, preparation, and delivery of ready-mixed concrete to customers' job sites; and the provision of various services that include the formulation of mixtures for specific design uses, on-site and lab-based product quality control, and customized delivery programs.

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