US Concrete (USCR) Upgraded by BidaskClub to “Sell”
BidaskClub upgraded shares of US Concrete (NASDAQ:USCR) from a strong sell rating to a sell rating in a research report released on Friday morning.
A number of other analysts also recently commented on USCR. ValuEngine downgraded US Concrete from a sell rating to a strong sell rating in a research report on Thursday, May 17th. DA Davidson set a $95.00 price objective on US Concrete and gave the stock a buy rating in a research report on Sunday, May 20th. Citigroup reduced their price objective on US Concrete from $77.00 to $74.00 and set a $53.95 rating for the company in a research report on Monday, July 23rd. Finally, SunTrust Banks set a $70.00 price objective on US Concrete and gave the stock a buy rating in a research report on Monday, August 6th. Three research analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. US Concrete currently has an average rating of Hold and a consensus target price of $81.33.
Shares of USCR stock opened at $51.15 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.41 and a debt-to-equity ratio of 2.27. US Concrete has a 12 month low of $44.00 and a 12 month high of $86.35. The company has a market capitalization of $803.90 million, a price-to-earnings ratio of 18.87, a PEG ratio of 1.32 and a beta of 1.04.
In related news, CFO John E. Kunz bought 1,000 shares of the business’s stock in a transaction that occurred on Thursday, August 9th. The stock was acquired at an average price of $51.76 per share, for a total transaction of $51,760.00. Following the transaction, the chief financial officer now directly owns 13,356 shares of the company’s stock, valued at $691,306.56. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman William J. Sandbrook sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 28th. The stock was sold at an average price of $50.39, for a total value of $453,510.00. Following the transaction, the chairman now owns 403,915 shares of the company’s stock, valued at approximately $20,353,276.85. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 8,650 shares of company stock valued at $424,178 and have sold 18,390 shares valued at $936,288. 5.30% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Advisory Services Network LLC lifted its position in shares of US Concrete by 1,706.1% during the 2nd quarter. Advisory Services Network LLC now owns 2,059 shares of the construction company’s stock worth $105,000 after buying an additional 1,945 shares during the period. NumerixS Investment Technologies Inc bought a new position in shares of US Concrete during the 2nd quarter worth approximately $154,000. GSA Capital Partners LLP bought a new position in shares of US Concrete during the 1st quarter worth approximately $205,000. SG Americas Securities LLC bought a new position in shares of US Concrete during the 2nd quarter worth approximately $181,000. Finally, Metlife Inc. bought a new position in US Concrete in the 1st quarter valued at $243,000.
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 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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