U S Concrete, Inc. (NASDAQ:USCR)’s share price dropped 5% on Monday . The stock traded as low as $75.68 and last traded at $75.80. Approximately 553,482 shares traded hands during mid-day trading, an increase of 87% from the average daily volume of 295,903 shares. The stock had previously closed at $79.80.
USCR has been the topic of several research reports. BidaskClub downgraded shares of U S Concrete from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. ValuEngine raised shares of U S Concrete from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Citigroup Inc. raised their price target on shares of U S Concrete to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Finally, Zacks Investment Research downgraded shares of U S Concrete from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $83.50.
The firm has a 50-day moving average of $77.27 and a 200-day moving average of $71.03. The firm has a market cap of $1.17 billion, a PE ratio of 47.15 and a beta of 1.22.
U S Concrete (NASDAQ:USCR) last released its quarterly earnings data on Tuesday, August 8th. The construction company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.86 by $0.09. U S Concrete had a net margin of 2.09% and a return on equity of 25.80%. The business had revenue of $340.90 million for the quarter, compared to analyst estimates of $342.60 million. During the same period in the previous year, the firm earned $0.54 EPS. The business’s revenue for the quarter was up 23.6% compared to the same quarter last year. On average, analysts anticipate that U S Concrete, Inc. will post $3.99 EPS for the current year.
In other U S Concrete news, VP David Andrew Behring sold 361 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $81.56, for a total value of $29,443.16. Following the transaction, the vice president now directly owns 10,804 shares in the company, valued at approximately $881,174.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO William J. Sandbrook sold 6,500 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $75.80, for a total transaction of $492,700.00. Following the completion of the transaction, the chief executive officer now owns 412,091 shares in the company, valued at $31,236,497.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,311 shares of company stock worth $1,643,874. 5.90% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in USCR. State of Alaska Department of Revenue lifted its holdings in U S Concrete by 5.2% in the 1st quarter. State of Alaska Department of Revenue now owns 1,610 shares of the construction company’s stock valued at $103,000 after purchasing an additional 80 shares in the last quarter. Ameritas Investment Partners Inc. lifted its holdings in U S Concrete by 15.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,337 shares of the construction company’s stock valued at $105,000 after purchasing an additional 177 shares in the last quarter. Crow Point Partners LLC purchased a new position in U S Concrete in the 2nd quarter valued at about $147,000. Pinebridge Investments L.P. lifted its holdings in U S Concrete by 2.8% in the 2nd quarter. Pinebridge Investments L.P. now owns 1,961 shares of the construction company’s stock valued at $154,000 after purchasing an additional 53 shares in the last quarter. Finally, First Mercantile Trust Co. purchased a new position in U S Concrete in the 2nd quarter valued at about $196,000.
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About U S 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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