Stephens downgraded shares of US Concrete (NASDAQ:USCR) from an overweight rating to an equal rating in a report issued on Monday morning, Briefing.com Automated Import reports. They currently have $47.00 target price on the construction company’s stock, down from their prior target price of $60.00.
Several other brokerages have also issued reports on USCR. Exane BNP Paribas assumed coverage on US Concrete in a research note on Wednesday, October 9th. They issued an outperform rating on the stock. Zacks Investment Research lowered US Concrete from a hold rating to a strong sell rating in a research report on Sunday, November 3rd. ValuEngine raised US Concrete from a hold rating to a buy rating in a research report on Friday, November 8th. DA Davidson lowered their target price on US Concrete to $56.00 and set a buy rating on the stock in a research report on Monday, November 11th. Finally, BidaskClub raised US Concrete from a hold rating to a buy rating in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $51.86.
USCR traded up $0.17 during trading on Monday, hitting $41.17. The company’s stock had a trading volume of 176,800 shares, compared to its average volume of 256,954. US Concrete has a twelve month low of $30.41 and a twelve month high of $56.22. The company has a quick ratio of 1.12, a current ratio of 1.32 and a debt-to-equity ratio of 2.00. The stock’s fifty day moving average price is $50.23 and its 200-day moving average price is $47.84. The firm has a market capitalization of $719.21 million, a P/E ratio of 21.33 and a beta of 1.36.
In related news, VP Herbert A. Burton sold 1,268 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $47.69, for a total value of $60,470.92. Following the completion of the sale, the vice president now directly owns 5,681 shares of the company’s stock, valued at approximately $270,926.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Matthew Emmert sold 1,699 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $47.55, for a total value of $80,787.45. Following the completion of the sale, the vice president now directly owns 2,460 shares of the company’s stock, valued at $116,973. The disclosure for this sale can be found here. Insiders have sold 3,467 shares of company stock worth $166,246 over the last ninety days. 4.70% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EULAV Asset Management raised its position in US Concrete by 27.8% in the 2nd quarter. EULAV Asset Management now owns 37,200 shares of the construction company’s stock valued at $1,848,000 after buying an additional 8,100 shares during the last quarter. Aperio Group LLC purchased a new stake in US Concrete in the 2nd quarter valued at $198,000. River & Mercantile Asset Management LLP purchased a new stake in US Concrete in the 2nd quarter valued at $1,971,000. Nuveen Asset Management LLC raised its position in US Concrete by 2,246.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 127,676 shares of the construction company’s stock valued at $6,345,000 after buying an additional 122,234 shares during the last quarter. Finally, Prudential Financial Inc. raised its position in US Concrete by 565.6% in the 2nd quarter. Prudential Financial Inc. now owns 173,369 shares of the construction company’s stock valued at $8,615,000 after buying an additional 147,322 shares during the last quarter. 97.36% of the stock is owned by institutional investors and hedge funds.
US Concrete Company Profile
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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