US Concrete (NASDAQ:USCR) Upgraded by ValuEngine to “Strong-Buy”

ValuEngine upgraded shares of US Concrete (NASDAQ:USCR) from a buy rating to a strong-buy rating in a research report released on Monday morning, ValuEngine reports.

USCR has been the topic of several other research reports. Stifel Nicolaus cut shares of US Concrete from a buy rating to a hold rating and lifted their price objective for the company from $51.00 to $53.00 in a research report on Thursday, July 18th. SunTrust Banks cut shares of US Concrete from a positive rating to a hold rating and set a $43.00 price objective on the stock. in a research report on Wednesday, May 15th. BidaskClub cut shares of US Concrete from a buy rating to a hold rating in a research report on Thursday, June 13th. Finally, Zacks Investment Research reiterated a sell rating on shares of US Concrete in a research report on Saturday, July 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $54.60.

US Concrete stock opened at $43.41 on Monday. The stock has a market cap of $723.21 million, a P/E ratio of 22.49, a PEG ratio of 1.66 and a beta of 1.22. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.25 and a quick ratio of 1.06. US Concrete has a 1 year low of $27.68 and a 1 year high of $54.95. The firm’s 50 day moving average price is $48.07 and its 200-day moving average price is $44.93.

US Concrete (NASDAQ:USCR) last released its quarterly earnings data on Friday, August 9th. The construction company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.62). The company had revenue of $367.50 million for the quarter, compared to the consensus estimate of $408.18 million. US Concrete had a net margin of 1.06% and a return on equity of 3.06%. The company’s quarterly revenue was down 9.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.08 EPS. As a group, equities analysts expect that US Concrete will post 2.69 EPS for the current year.

In related news, CFO John E. Kunz sold 1,982 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $47.33, for a total value of $93,808.06. Following the sale, the chief financial officer now owns 12,592 shares in the company, valued at $595,979.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Ronnie A. Pruitt sold 4,563 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $46.26, for a total transaction of $211,084.38. Following the completion of the sale, the chief operating officer now owns 21,310 shares in the company, valued at approximately $985,800.60. The disclosure for this sale can be found here. Insiders sold 12,348 shares of company stock worth $575,618 in the last 90 days. 4.70% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in USCR. Victory Capital Management Inc. bought a new stake in US Concrete in the second quarter worth $31,006,000. ACK Asset Management LLC bought a new position in US Concrete during the first quarter valued at $10,618,000. Prudential Financial Inc. increased its position in US Concrete by 565.6% during the second quarter. Prudential Financial Inc. now owns 173,369 shares of the construction company’s stock valued at $8,615,000 after acquiring an additional 147,322 shares during the last quarter. Lomas Capital Management LLC increased its position in US Concrete by 19.5% during the second quarter. Lomas Capital Management LLC now owns 751,649 shares of the construction company’s stock valued at $37,349,000 after acquiring an additional 122,851 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its position in US Concrete by 2,246.1% during the second quarter. Nuveen Asset Management LLC now owns 127,676 shares of the construction company’s stock valued at $6,345,000 after acquiring an additional 122,234 shares during the last quarter. Institutional investors own 94.92% of the company’s stock.

About US Concrete

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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Analyst Recommendations for US Concrete (NASDAQ:USCR)

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