USG Co. (NYSE:USG)’s share price reached a new 52-week high and low on Tuesday after SunTrust Banks raised their price target on the stock from $42.00 to $44.00. SunTrust Banks currently has a hold rating on the stock. USG traded as low as $41.50 and last traded at $41.28, with a volume of 1092691 shares. The stock had previously closed at $41.02.
Other equities research analysts also recently issued research reports about the company. Robert W. Baird raised USG from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $35.00 to $45.00 in a research report on Friday, January 5th. Stifel Nicolaus lifted their price objective on USG from $33.00 to $36.00 and gave the company a “hold” rating in a research report on Friday, February 2nd. ValuEngine raised USG from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. JPMorgan Chase raised USG from a “neutral” rating to an “overweight” rating and set a $38.00 price objective for the company in a research report on Friday, January 5th. Finally, Barclays raised USG from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $31.00 to $43.00 in a research report on Friday, January 5th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $39.00.
A number of institutional investors have recently modified their holdings of USG. Captrust Financial Advisors acquired a new position in shares of USG during the fourth quarter worth about $160,000. SG Americas Securities LLC acquired a new position in shares of USG during the third quarter worth about $170,000. State of Alaska Department of Revenue acquired a new position in shares of USG during the fourth quarter worth about $196,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of USG by 45.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,351 shares of the construction company’s stock worth $206,000 after purchasing an additional 1,681 shares in the last quarter. Finally, Creative Planning acquired a new position in shares of USG during the fourth quarter worth about $235,000. Hedge funds and other institutional investors own 82.14% of the company’s stock.
USG (NYSE:USG) last issued its quarterly earnings data on Thursday, February 1st. The construction company reported $0.53 EPS for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.14. The company had revenue of $831.00 million for the quarter, compared to analysts’ expectations of $757.57 million. USG had a return on equity of 13.59% and a net margin of 2.96%. The firm’s quarterly revenue was up 13.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.44 earnings per share. research analysts forecast that USG Co. will post 2.23 earnings per share for the current fiscal year.
USG declared that its Board of Directors has approved a share buyback program on Thursday, February 1st that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the construction company to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
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USG Company Profile
USG Corporation, through its subsidiaries, is a manufacturer and distributor of building materials. The Company’s segments include Gypsum, Ceilings and USG Boral Building Products (UBBP). It produces a range of products for use in new residential, new nonresidential, and residential and nonresidential repair and remodel construction, as well as products used in certain industrial processes.
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