US Concrete (NASDAQ:USCR) Downgraded by BidaskClub

BidaskClub cut shares of US Concrete (NASDAQ:USCR) from a buy rating to a hold rating in a report published on Thursday, BidAskClub reports.

A number of other equities analysts have also recently issued reports on the company. Zacks Investment Research upgraded US Concrete from a sell rating to a hold rating in a report on Thursday, May 16th. SunTrust Banks cut US Concrete from a positive rating to a hold rating and set a $43.00 target price for the company. in a report on Wednesday, May 15th. Finally, ValuEngine upgraded US Concrete from a sell rating to a hold rating in a report on Tuesday, March 5th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $55.33.

US Concrete stock traded down $0.79 during mid-day trading on Thursday, hitting $46.54. 9,474 shares of the company’s stock were exchanged, compared to its average volume of 226,168. The company has a market capitalization of $778.48 million, a PE ratio of 24.11, a PEG ratio of 1.58 and a beta of 1.23. US Concrete has a fifty-two week low of $27.68 and a fifty-two week 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.

US Concrete (NASDAQ:USCR) last issued its quarterly earnings data on Thursday, May 9th. The construction company reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.01). The business had revenue of $333.10 million for the quarter, compared to analyst estimates of $342.80 million. US Concrete had a return on equity of 8.76% and a net margin of 2.06%. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.23) EPS. Analysts predict that US Concrete will post 2.84 EPS for the current fiscal year.

In related news, EVP Niel L. Poulsen sold 5,782 shares of the firm’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 directly owns 9,575 shares in the company, valued at approximately $410,480.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Paul M. Jolas sold 5,053 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $46.47, for a total transaction of $234,812.91. Following the completion of the sale, the senior vice president now owns 18,781 shares of the company’s stock, valued at $872,753.07. The disclosure for this sale can be found here. Insiders sold a total of 18,130 shares of company stock valued at $821,487 over the last quarter. 4.70% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of USCR. Oppenheimer Asset Management Inc. purchased a new stake in US Concrete in the 4th quarter valued at about $26,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in US Concrete by 82.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,132 shares of the construction company’s stock valued at $40,000 after acquiring an additional 512 shares in the last quarter. Advisory Services Network LLC grew its position in US Concrete by 20.2% in the 1st quarter. Advisory Services Network LLC now owns 2,498 shares of the construction company’s stock valued at $103,000 after acquiring an additional 420 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in shares of US Concrete by 55,716.7% during the first quarter. BNP Paribas Arbitrage SA now owns 3,349 shares of the construction company’s stock worth $139,000 after buying an additional 3,343 shares in the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in shares of US Concrete during the first quarter worth about $140,000. Institutional investors and hedge funds own 95.71% 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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