US Concrete (USCR) Lifted to Sell at BidaskClub

BidaskClub upgraded shares of US Concrete (NASDAQ:USCR) from a strong sell rating to a sell rating in a report issued on Friday morning.

A number of other research analysts also recently weighed in on the company. Sidoti assumed coverage on US Concrete in a report on Monday, October 15th. They issued a buy rating on the stock. Zacks Investment Research downgraded US Concrete from a hold rating to a sell rating in a report on Saturday, October 13th. DA Davidson reissued a buy rating and issued a $87.00 target price (down previously from $95.00) on shares of US Concrete in a report on Thursday, October 11th. SunTrust Banks set a $70.00 target price on US Concrete and gave the company a buy rating in a report on Monday, August 6th. Finally, Citigroup lowered their target price on US Concrete from $77.00 to $74.00 and set a $53.95 rating on the stock in a report on Monday, July 23rd. Three research analysts have rated the stock with a sell rating and five have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $80.00.

Shares of NASDAQ:USCR opened at $36.36 on Friday. The firm has a market cap of $611.50 million, a PE ratio of 13.42, a price-to-earnings-growth ratio of 1.11 and a beta of 1.38. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.21 and a current ratio of 1.28. US Concrete has a 1 year low of $27.68 and a 1 year high of $86.35.

US Concrete (NASDAQ:USCR) last announced its quarterly earnings results on Thursday, November 1st. The construction company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.42). The business had revenue of $404.27 million for the quarter, compared to the consensus estimate of $411.35 million. US Concrete had a net margin of 1.69% and a return on equity of 10.56%. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.45 earnings per share. On average, research analysts predict that US Concrete will post 3.29 earnings per share for the current fiscal year.

In related news, CFO John E. Kunz acquired 1,000 shares of the firm’s stock in a transaction dated Thursday, August 9th. The shares were purchased at an average price of $51.76 per share, with a total value of $51,760.00. Following the completion of the purchase, the chief financial officer now directly owns 13,356 shares of the company’s stock, valued at $691,306.56. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kurt Matthew Cellar acquired 2,000 shares of the firm’s stock in a transaction dated Tuesday, September 4th. The stock was bought at an average cost of $48.30 per share, for a total transaction of $96,600.00. Following the purchase, the director now directly owns 45,309 shares of the company’s stock, valued at $2,188,424.70. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 8,650 shares of company stock worth $424,178 and sold 390 shares worth $17,846. 5.30% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Advisory Services Network LLC raised its stake in shares of US Concrete by 1,706.1% in the second quarter. Advisory Services Network LLC now owns 2,059 shares of the construction company’s stock worth $105,000 after buying an additional 1,945 shares during the period. NumerixS Investment Technologies Inc bought a new position in shares of US Concrete in the second quarter worth about $154,000. SG Americas Securities LLC bought a new position in shares of US Concrete in the second quarter worth about $181,000. Stevens Capital Management LP bought a new position in shares of US Concrete in the second quarter worth about $230,000. Finally, LPL Financial LLC grew its position in shares of US Concrete by 33.5% during the first quarter. LPL Financial LLC now owns 4,679 shares of the construction company’s stock worth $283,000 after purchasing an additional 1,173 shares in the last quarter.

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 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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