US Concrete (USCR) Trading Down 5%

US Concrete Inc (NASDAQ:USCR)’s share price dropped 5% during trading on Thursday . The stock traded as low as $33.94 and last traded at $32.34. Approximately 10,311 shares were traded during trading, a decline of 97% from the average daily volume of 385,179 shares. The stock had previously closed at $34.06.

USCR has been the topic of several research analyst reports. Citigroup reduced their price target on shares of US Concrete from $77.00 to $74.00 and set a “$53.95” rating on the stock in a research report on Monday, July 23rd. ValuEngine cut shares of US Concrete from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 26th. BidaskClub cut shares of US Concrete from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 25th. Sidoti initiated coverage on shares of US Concrete in a research report on Monday, October 15th. They set a “buy” rating on the stock. Finally, Zacks Investment Research cut shares of US Concrete from a “hold” rating to a “sell” rating in a research report on Saturday, October 13th. Three research analysts have rated the stock with a sell rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $80.00.

The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.21 and a current ratio of 1.41. The firm has a market capitalization of $572.82 million, a PE ratio of 11.49, a PEG ratio of 1.04 and a beta of 1.06.

US Concrete (NASDAQ:USCR) last issued its earnings results on Tuesday, August 7th. The construction company reported $1.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.29 by ($0.21). US Concrete had a return on equity of 12.82% and a net margin of 2.34%. The business had revenue of $404.20 million during the quarter, compared to the consensus estimate of $390.55 million. During the same period in the prior year, the business earned $0.95 EPS. The business’s revenue was up 18.6% on a year-over-year basis. As a group, sell-side analysts anticipate that US Concrete Inc will post 3.29 earnings per share for the current fiscal year.

In other US Concrete news, Director Kurt Matthew Cellar bought 2,000 shares of the business’s stock in a transaction on Tuesday, September 4th. The shares were purchased at an average price of $48.30 per share, with a total value of $96,600.00. Following the completion of the acquisition, the director now directly owns 45,309 shares of the company’s stock, valued at approximately $2,188,424.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John E. Kunz bought 1,000 shares of the business’s stock in a transaction on Thursday, August 9th. The stock was acquired at an average cost of $51.76 per share, for a total transaction of $51,760.00. Following the acquisition, the chief financial officer now directly owns 13,356 shares of the company’s stock, valued at $691,306.56. The disclosure for this purchase can be found here. In the last three months, insiders acquired 8,650 shares of company stock worth $424,178 and sold 9,390 shares worth $480,896. Company insiders own 5.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of USCR. BlackRock Inc. increased its stake in shares of US Concrete by 9.1% in the second quarter. BlackRock Inc. now owns 2,201,224 shares of the construction company’s stock valued at $115,564,000 after purchasing an additional 184,453 shares during the period. Bank of New York Mellon Corp increased its stake in shares of US Concrete by 51.9% in the second quarter. Bank of New York Mellon Corp now owns 2,078,115 shares of the construction company’s stock valued at $109,101,000 after purchasing an additional 709,745 shares during the period. Hodges Capital Management Inc. increased its stake in shares of US Concrete by 446.1% in the second quarter. Hodges Capital Management Inc. now owns 687,255 shares of the construction company’s stock valued at $36,081,000 after purchasing an additional 561,405 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of US Concrete by 2.5% in the second quarter. Dimensional Fund Advisors LP now owns 602,860 shares of the construction company’s stock valued at $31,650,000 after purchasing an additional 14,708 shares during the period. Finally, Tocqueville Asset Management L.P. increased its stake in shares of US Concrete by 2.9% in the second quarter. Tocqueville Asset Management L.P. now owns 451,180 shares of the construction company’s stock valued at $23,687,000 after purchasing an additional 12,525 shares during the period.

About US Concrete (NASDAQ:USCR)

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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