US Concrete (NASDAQ:USCR) Downgraded by Zacks Investment Research to “Hold”

US Concrete (NASDAQ:USCR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Saturday, Zacks.com reports.

According to Zacks, “U.S. Concrete Inc. operates as a provider of ready-mixed concrete and concrete-related products and services to the construction industry in the United States. The Company operates in two segments: ready-mixed concrete and concrete-related products; and precast concrete. The Company’s ready-mixed concrete and concrete-related products segment produces and sells ready-mixed concrete, aggregates (crushed stone, sand and gravel), concrete masonry and building materials. Its precast concrete products segment produces and sells precast concrete products. Markets served by the Company include west Texas, northern California, New Jersey, New York, Washington, D.C., Oklahoma and the mid-Atlantic region. U.S. Concrete Inc. is based in Houston, Texas, USA. “

Other analysts also recently issued reports about the company. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. BidaskClub upgraded DENTSPLY SIRONA from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 13th. Finally, SunTrust Banks upped their price objective on eHealth to $120.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. US Concrete currently has an average rating of “Buy” and an average price target of $55.00.

US Concrete stock traded up $1.55 during trading hours on Friday, hitting $50.72. The stock had a trading volume of 171,254 shares, compared to its average volume of 186,368. The company has a quick ratio of 1.06, a current ratio of 1.25 and a debt-to-equity ratio of 2.21. The company has a market cap of $842.97 million, a PE ratio of 26.28, a price-to-earnings-growth ratio of 1.78 and a beta of 1.21. US Concrete has a 1-year low of $27.68 and a 1-year high of $55.25. The firm has a fifty day simple moving average of $48.08.

US Concrete (NASDAQ:USCR) last posted its earnings results on Thursday, May 9th. The construction company reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.01). The firm had revenue of $333.10 million during the quarter, compared to analyst estimates of $342.80 million. US Concrete had a net margin of 2.06% and a return on equity of 8.76%. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period last year, the company posted ($0.23) EPS. On average, research analysts expect that US Concrete will post 2.77 EPS for the current fiscal year.

In related news, CFO John E. Kunz sold 1,982 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $47.33, for a total transaction of $93,808.06. Following the transaction, the chief financial officer now directly owns 12,592 shares in the company, valued at $595,979.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Paul M. Jolas sold 5,053 shares of the stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $46.47, for a total value of $234,812.91. Following the transaction, the senior vice president now owns 18,781 shares in the company, valued at $872,753.07. The disclosure for this sale can be found here. Insiders sold 12,348 shares of company stock worth $574,858 over the last 90 days. Company insiders own 4.70% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC lifted its position in US Concrete by 20.2% during the first quarter. Advisory Services Network LLC now owns 2,498 shares of the construction company’s stock worth $103,000 after buying an additional 420 shares during the period. BNP Paribas Arbitrage SA lifted its position in 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 during the period. Royce & Associates LP lifted its position in US Concrete by 96.0% during the fourth quarter. Royce & Associates LP now owns 4,900 shares of the construction company’s stock worth $173,000 after buying an additional 2,400 shares during the period. Metropolitan Life Insurance Co. NY lifted its position in US Concrete by 353.4% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 5,092 shares of the construction company’s stock worth $180,000 after buying an additional 3,969 shares during the period. Finally, Crossmark Global Holdings Inc. purchased a new position in US Concrete during the first quarter worth about $200,000. Hedge funds and other institutional investors own 95.67% 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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