JPMorgan Chase & Co. Upgrades USG (USG) to Overweight

JPMorgan Chase & Co. upgraded shares of USG (NYSE:USG) from a neutral rating to an overweight rating in a research report released on Friday. They currently have $38.00 price target on the construction company’s stock.

A number of other brokerages also recently issued reports on USG. ValuEngine upgraded USG from a hold rating to a buy rating in a research note on Sunday, December 31st. Barclays upgraded USG from an equal weight rating to an overweight rating and boosted their price objective for the company from $31.00 to $43.00 in a research note on Friday. Robert W. Baird upgraded USG from a neutral rating to an outperform rating and boosted their price objective for the company from $35.00 to $45.00 in a research note on Friday. Citigroup boosted their price objective on USG from $34.00 to $37.00 and gave the company a neutral rating in a research note on Friday, October 27th. Finally, Bank of America downgraded USG from a neutral rating to an underperform rating in a research note on Friday, October 27th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $35.21.

Shares of USG (USG) traded up $0.28 during trading hours on Friday, hitting $40.82. The company had a trading volume of 981,000 shares, compared to its average volume of 1,618,040. The company has a market cap of $5,770.00, a P/E ratio of 30.69, a PEG ratio of 1.54 and a beta of 1.21. The company has a current ratio of 2.37, a quick ratio of 1.73 and a debt-to-equity ratio of 0.54. USG has a 52 week low of $25.60 and a 52 week high of $41.18.

USG (NYSE:USG) last announced its quarterly earnings data on Thursday, October 26th. The construction company reported $0.47 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.47. The company had revenue of $795.00 million during the quarter, compared to the consensus estimate of $790.54 million. USG had a return on equity of 12.90% and a net margin of 14.93%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.46 EPS. research analysts predict that USG will post 1.67 EPS for the current year.

In other news, CEO Jennifer F. Scanlon sold 6,045 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $37.54, for a total transaction of $226,929.30. Following the sale, the chief executive officer now directly owns 85,429 shares of the company’s stock, valued at approximately $3,207,004.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dominic A. Dannessa sold 6,042 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $37.55, for a total value of $226,877.10. Following the sale, the insider now directly owns 63,255 shares in the company, valued at $2,375,225.25. The disclosure for this sale can be found here. Insiders sold a total of 58,992 shares of company stock valued at $2,131,270 over the last 90 days. 0.67% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of USG. LSV Asset Management raised its holdings in shares of USG by 5.5% during the 2nd quarter. LSV Asset Management now owns 757,318 shares of the construction company’s stock worth $21,977,000 after acquiring an additional 39,500 shares in the last quarter. Amalgamated Bank raised its holdings in shares of USG by 27.2% during the 2nd quarter. Amalgamated Bank now owns 15,920 shares of the construction company’s stock worth $462,000 after acquiring an additional 3,404 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of USG during the 2nd quarter worth approximately $5,467,000. New York State Common Retirement Fund raised its holdings in shares of USG by 2.2% during the 3rd quarter. New York State Common Retirement Fund now owns 190,100 shares of the construction company’s stock worth $6,207,000 after acquiring an additional 4,100 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of USG during the 3rd quarter worth approximately $170,000. 85.76% of the stock is currently owned by institutional investors and hedge funds.

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USG Company Profile

USG Corporation, through its subsidiaries, is a manufacturer and distributor of building materials. The Company’s segments include Gypsum, Ceilings and USG Boral Building Products (UBBP). It produces a range of products for use in new residential, new nonresidential, and residential and nonresidential repair and remodel construction, as well as products used in certain industrial processes.

Analyst Recommendations for USG (NYSE:USG)

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