US Concrete (USCR) Upgraded to “Hold” at Zacks Investment Research

US Concrete (NASDAQ:USCR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday, Zacks.com reports.

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. “

A number of other equities analysts have also recently commented on the stock. SunTrust Banks cut shares of US Concrete from a “buy” rating to a “hold” rating and set a $37.55 price target for the company. in a research note on Thursday, January 31st. BidaskClub cut shares of US Concrete from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, April 3rd. Finally, ValuEngine raised shares of US Concrete from a “sell” rating to a “hold” rating in a research note on Tuesday, March 5th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. US Concrete currently has an average rating of “Buy” and a consensus price target of $55.33.

Shares of USCR stock traded down $0.30 during trading hours on Thursday, reaching $48.55. 592 shares of the stock were exchanged, compared to its average volume of 298,341. US Concrete has a 12-month low of $27.68 and a 12-month high of $65.85. The company has a current ratio of 1.25, a quick ratio of 1.06 and a debt-to-equity ratio of 2.21. The stock has a market cap of $811.84 million, a PE ratio of 25.16, a P/E/G ratio of 1.76 and a beta of 1.29.

US Concrete (NASDAQ:USCR) last released its quarterly earnings results on Thursday, May 9th. The construction company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). US Concrete had a return on equity of 8.76% and a net margin of 2.06%. The firm had revenue of $333.10 million for the quarter, compared to analysts’ expectations of $342.80 million. During the same period in the prior year, the firm posted ($0.23) earnings per share. US Concrete’s revenue for the quarter was up 1.6% on a year-over-year basis. Sell-side analysts forecast that US Concrete will post 2.67 EPS for the current year.

In other news, EVP Niel L. Poulsen sold 5,782 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $42.87, for a total value of $247,874.34. Following the completion of the sale, the executive vice president now owns 9,575 shares in the company, valued at approximately $410,480.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Kevin Kohutek sold 5,100 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $40.75, for a total transaction of $207,825.00. Following the completion of the sale, the vice president now owns 5,637 shares of the company’s stock, valued at approximately $229,707.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,432 shares of company stock valued at $643,221. Company insiders own 4.70% of the company’s stock.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. raised its holdings in shares of US Concrete by 2.9% in the 4th quarter. BlackRock Inc. now owns 2,340,759 shares of the construction company’s stock valued at $82,581,000 after purchasing an additional 66,376 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of US Concrete by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 965,285 shares of the construction company’s stock worth $44,257,000 after acquiring an additional 4,441 shares in the last quarter. Vanguard Group Inc raised its stake in shares of US Concrete by 0.5% during the 3rd quarter. Vanguard Group Inc now owns 965,285 shares of the construction company’s stock worth $44,257,000 after acquiring an additional 4,441 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of US Concrete by 21.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 874,420 shares of the construction company’s stock worth $36,218,000 after acquiring an additional 151,616 shares in the last quarter. Finally, Hodges Capital Management Inc. raised its stake in shares of US Concrete by 5.3% during the 4th quarter. Hodges Capital Management Inc. now owns 809,565 shares of the construction company’s stock worth $28,561,000 after acquiring an additional 40,680 shares in the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.

US Concrete Company Profile

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, U.S. Virgin Islands, and Canada. It operates through two segments, Ready-Mixed Concrete and Aggregate Products.

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