DA Davidson set a $80.00 price target on U.S. Concrete Inc. (NASDAQ:USCR) in a research report sent to investors on Thursday. The brokerage currently has a a buy rating on the stock.
Several other equities research analysts also recently weighed in on the stock. SunTrust Banks Inc. initiated coverage on shares of U.S. Concrete in a research report on Monday, August 8th. They issued a buy rating and a $75.00 target price for the company. Zacks Investment Research lowered shares of U.S. Concrete from a buy rating to a hold rating in a report on Tuesday, July 26th. Finally, Sidoti raised shares of U.S. Concrete from a neutral rating to a buy rating and lifted their price target for the company from $72.00 to $90.00 in a report on Friday, June 10th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. U.S. Concrete currently has an average rating of Buy and an average price target of $77.83.
Shares of U.S. Concrete (NASDAQ:USCR) traded down 1.554% on Thursday, reaching $45.935. 522,644 shares of the company’s stock were exchanged. The company’s market capitalization is $685.35 million. U.S. Concrete has a 1-year low of $40.42 and a 1-year high of $69.66. The stock’s 50-day moving average price is $50.29 and its 200-day moving average price is $59.22.
U.S. Concrete (NASDAQ:USCR) last released its earnings results on Thursday, August 4th. The company reported $0.54 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.95 by $0.41. The company earned $275.80 million during the quarter, compared to the consensus estimate of $297.94 million. U.S. Concrete had a return on equity of 40.33% and a net margin of 1.18%. U.S. Concrete’s quarterly revenue was up 12.7% on a year-over-year basis. Analysts anticipate that U.S. Concrete will post $2.99 EPS for the current fiscal year.
In related news, EVP Niel L. Poulsen purchased 18,000 shares of U.S. Concrete stock in a transaction dated Monday, August 8th. The stock was bought at an average cost of $56.00 per share, with a total value of $1,008,000.00. Following the purchase, the executive vice president now owns 41,481 shares in the company, valued at approximately $2,322,936. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO William J. Sandbrook sold 6,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $66.07, for a total transaction of $429,455.00. Following the completion of the sale, the chief executive officer now directly owns 509,867 shares of the company’s stock, valued at $33,686,912.69. The disclosure for this sale can be found here. Company insiders own 6.90% of the company’s stock.
Several hedge funds have recently modified their holdings of USCR. PineBridge Investments L.P. raised its stake in shares of U.S. Concrete by 1.6% in the second quarter. PineBridge Investments L.P. now owns 1,716 shares of the company’s stock worth $105,000 after buying an additional 27 shares in the last quarter. Acrospire Investment Management LLC raised its stake in shares of U.S. Concrete by 36.7% in the second quarter. Acrospire Investment Management LLC now owns 1,863 shares of the company’s stock worth $113,000 after buying an additional 500 shares in the last quarter. Teacher Retirement System of Texas raised its stake in shares of U.S. Concrete by 14.3% in the second quarter. Teacher Retirement System of Texas now owns 1,945 shares of the company’s stock worth $118,000 after buying an additional 244 shares in the last quarter. Invictus RG bought a new stake in shares of U.S. Concrete during the first quarter worth $134,000. Finally, Bank of Montreal Can bought a new stake in shares of U.S. Concrete during the second quarter worth $140,000. 98.09% of the stock is owned by institutional investors.
U.S. Concrete Company Profile