US Concrete (USCR) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of US Concrete (NASDAQ:USCR) from a strong sell rating to a hold rating in a research report sent to investors on Saturday morning.

According to Zacks, “U.S. Concrete Inc. operates as a provider of ready-mixed concrete and concrete-related products and services to the construction industry in the United States. The Company operates in two segments: ready-mixed concrete and concrete-related products; and precast concrete. The Company’s ready-mixed concrete and concrete-related products segment produces and sells ready-mixed concrete, aggregates (crushed stone, sand and gravel), concrete masonry and building materials. Its precast concrete products segment produces and sells precast concrete products. Markets served by the Company include west Texas, northern California, New Jersey, New York, Washington, D.C., Oklahoma and the mid-Atlantic region. U.S. Concrete Inc. is based in Houston, Texas, USA. “

USCR has been the topic of a number of other research reports. ValuEngine downgraded US Concrete from a buy rating to a hold rating in a research note on Monday, October 2nd. Stifel Nicolaus restated a buy rating and issued a $98.00 target price on shares of US Concrete in a research note on Thursday, September 28th. DA Davidson restated a buy rating on shares of US Concrete in a research note on Monday, December 4th. Finally, BidaskClub upgraded US Concrete from a sell rating to a hold rating in a research note on Wednesday, December 6th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. US Concrete has a consensus rating of Buy and an average target price of $89.00.

US Concrete (NASDAQ USCR) opened at $83.10 on Friday. The company has a debt-to-equity ratio of 2.35, a current ratio of 2.31 and a quick ratio of 2.12. US Concrete has a 52 week low of $57.95 and a 52 week high of $86.35. The company has a market capitalization of $1,400.00, a PE ratio of 110.80, a price-to-earnings-growth ratio of 1.89 and a beta of 1.31.

US Concrete (NASDAQ:USCR) last issued its earnings results on Friday, November 3rd. The construction company reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.47). US Concrete had a net margin of 0.99% and a return on equity of 22.33%. The firm had revenue of $354.60 million during the quarter, compared to analysts’ expectations of $364.16 million. During the same quarter last year, the firm earned $1.19 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. equities research analysts forecast that US Concrete will post 3.09 EPS for the current fiscal year.

In other news, Vice Chairman William J. Sandbrook sold 9,000 shares of the company’s stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $82.91, for a total transaction of $746,190.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Colin Mcgill Sutherland sold 1,400 shares of the company’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $83.28, for a total value of $116,592.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 76,504 shares of company stock valued at $6,242,367. 5.90% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. lifted its position in shares of US Concrete by 15.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,337 shares of the construction company’s stock worth $105,000 after purchasing an additional 177 shares during the last quarter. Pinebridge Investments L.P. lifted its position in shares of US Concrete by 2.8% during the 2nd quarter. Pinebridge Investments L.P. now owns 1,961 shares of the construction company’s stock worth $154,000 after purchasing an additional 53 shares during the last quarter. Peregrine Asset Advisers Inc. acquired a new position in shares of US Concrete during the 2nd quarter worth about $212,000. Aperio Group LLC acquired a new position in shares of US Concrete during the 3rd quarter worth about $210,000. Finally, Commonwealth Equity Services Inc acquired a new position in shares of US Concrete during the 3rd quarter worth about $217,000.

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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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