BidaskClub Downgrades U S Concrete, Inc. (NASDAQ:USCR) to Buy

BidaskClub downgraded shares of U S Concrete, Inc. (NASDAQ:USCR) from a strong-buy rating to a buy rating in a research note issued to investors on Tuesday, July 25th.

USCR has been the subject of several other reports. Zacks Investment Research upgraded U S Concrete from a sell rating to a hold rating in a research report on Wednesday, May 3rd. TheStreet upgraded U S Concrete from a c+ rating to a b rating in a research report on Thursday, May 4th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has an average rating of Buy and an average price target of $82.25.

U S Concrete (USCR) traded up 0.92% during mid-day trading on Tuesday, hitting $76.40. The company had a trading volume of 291,181 shares. The company has a 50-day moving average price of $78.05 and a 200 day moving average price of $69.17. U S Concrete has a 12 month low of $42.82 and a 12 month high of $80.45. The firm has a market capitalization of $1.20 billion, a P/E ratio of 48.42 and a beta of 1.22.

U S Concrete (NASDAQ:USCR) last issued its quarterly earnings data on Tuesday, August 8th. The construction company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.09. The company had revenue of $340.90 million during the quarter, compared to analyst estimates of $342.60 million. U S Concrete had a return on equity of 25.80% and a net margin of 2.09%. The firm’s revenue for the quarter was up 23.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.54 earnings per share. Equities analysts forecast that U S Concrete will post $3.95 EPS for the current fiscal year.

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In other news, CEO William J. Sandbrook sold 6,500 shares of the stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $76.27, for a total value of $495,755.00. Following the sale, the chief executive officer now directly owns 425,345 shares in the company, valued at $32,441,063.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Jeffrey W. Roberts sold 2,394 shares of the stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $68.00, for a total value of $162,792.00. Following the completion of the sale, the vice president now owns 34,422 shares in the company, valued at $2,340,696. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,044 shares of company stock valued at $1,701,933. Company insiders own 5.90% of the company’s stock.

A number of hedge funds have recently made changes to their positions in USCR. New York State Teachers Retirement System boosted its stake in shares of U S Concrete by 5.4% in the fourth quarter. New York State Teachers Retirement System now owns 7,857 shares of the construction company’s stock worth $515,000 after buying an additional 400 shares during the period. State Street Corp boosted its stake in shares of U S Concrete by 7.6% in the fourth quarter. State Street Corp now owns 303,546 shares of the construction company’s stock worth $19,884,000 after buying an additional 21,534 shares during the period. Macquarie Group Ltd. boosted its stake in shares of U S Concrete by 76.9% in the fourth quarter. Macquarie Group Ltd. now owns 36,800 shares of the construction company’s stock worth $2,410,000 after buying an additional 16,000 shares during the period. Stifel Financial Corp boosted its stake in shares of U S Concrete by 21.5% in the first quarter. Stifel Financial Corp now owns 101,002 shares of the construction company’s stock worth $6,551,000 after buying an additional 17,851 shares during the period. Finally, Daiwa Securities Group Inc. purchased a new position in shares of U S Concrete during the first quarter worth approximately $1,459,000.

About U S Concrete

U.S. Concrete, Inc is a producer of ready-mixed concrete in select geographic markets in the United States. The Company conducts its operations through two business segments: ready-mixed concrete and aggregate products. The ready-mixed concrete segment engages principally in the formulation, production and delivery of ready-mixed concrete to its customers’ job sites.

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