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

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Zacks Investment Research cut shares of US Concrete (NASDAQ:USCR) from a buy rating to a hold rating in a report published on Saturday morning, 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. “

USCR has been the topic of a number of other reports. ValuEngine cut shares of Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. BidaskClub upgraded shares of DENTSPLY SIRONA from a buy rating to a strong-buy rating in a research report on Thursday, June 13th. Finally, SunTrust Banks increased their price target on shares of eHealth to $120.00 and gave the company a buy rating in a research report on Wednesday, May 15th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $55.00.

Shares of NASDAQ USCR opened at $50.72 on Friday. US Concrete has a one year low of $27.68 and a one year high of $55.25. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.25 and a quick ratio of 1.06. The company’s 50 day simple moving average is $48.08. The company has a market capitalization of $842.92 million, a PE ratio of 28.66, a P/E/G ratio of 1.83 and a beta of 1.21.

US Concrete (NASDAQ:USCR) last issued its quarterly earnings results on Thursday, May 9th. The construction company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). US Concrete had a net margin of 2.06% and a return on equity of 8.76%. The business had revenue of $333.10 million for the quarter, compared to the consensus estimate of $342.80 million. During the same quarter in the previous year, the business earned ($0.23) earnings per share. The firm’s revenue was up 1.6% on a year-over-year basis. Sell-side analysts forecast that US Concrete will post 2.77 earnings per share for the current year.

In other news, COO Ronnie A. Pruitt sold 4,563 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $46.26, for a total transaction of $211,084.38. Following the completion of the sale, the chief operating officer now owns 21,310 shares of the company’s stock, valued at $985,800.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Paul M. Jolas sold 5,053 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $46.47, for a total value of $234,812.91. Following the sale, the senior vice president now directly owns 18,781 shares of the company’s stock, valued at approximately $872,753.07. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,348 shares of company stock valued at $574,858. Insiders own 4.70% of the company’s stock.

Several large investors have recently added to or reduced their stakes in USCR. BlackRock Inc. lifted its stake in US Concrete by 2.9% in the fourth quarter. BlackRock Inc. now owns 2,340,759 shares of the construction company’s stock worth $82,581,000 after acquiring an additional 66,376 shares during the period. Dimensional Fund Advisors LP lifted its stake in US Concrete by 3.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 722,804 shares of the construction company’s stock worth $25,500,000 after acquiring an additional 26,172 shares during the period. Millennium Management LLC lifted its stake in US Concrete by 113.3% in the fourth quarter. Millennium Management LLC now owns 393,802 shares of the construction company’s stock worth $13,893,000 after acquiring an additional 209,199 shares during the period. Clearbridge Investments LLC lifted its stake in US Concrete by 3.4% in the first quarter. Clearbridge Investments LLC now owns 267,590 shares of the construction company’s stock worth $11,084,000 after acquiring an additional 8,820 shares during the period. Finally, ACK Asset Management LLC purchased a new stake in US Concrete in the first quarter worth $10,618,000. 95.67% of the stock is owned by hedge funds and other institutional investors.

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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