US Concrete Inc (USCR) was Initiated by DA Davidson to “Buy” and the brokerage firm has set the Price Target at $80. DA Davidson advised their investors in a research report released on Jun 9, 2016.
Many Wall Street Analysts have commented on US Concrete Inc. BB&T Capital Mkts Initiated US Concrete Inc on Apr 21, 2016 to “Buy”, Price Target of the shares are set at $80.US Concrete Inc was Downgraded by Sidoti to ” Neutral” on Apr 20, 2016.
On the company’s financial health, US Concrete Inc reported $0.31 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.22. The company had revenue of $245.00 million for the quarter, compared to analysts expectations of $221.14 million. The company’s revenue was up 43.0% compared to the same quarter last year.
US Concrete Inc opened for trading at $62.05 and hit $62.91 on the upside on Tuesday, eventually ending the session at $62.63, with a gain of 1.10% or 0.68 points. The heightened volatility saw the trading volume jump to 1,93,042 shares. Company has a market cap of $949 M.
In a different news, on Jun 7, 2016, Jeffrey W Roberts (VP & GM – Ingram Concrete, LLC) sold 1,000 shares at $62.65 per share price. According to the SEC, on May 31, 2016, Theodore P Rossi (director) sold 4,000 shares at $63.98 per share price. On May 26, 2016, William J Sandbrook (President & CEO) sold 6,500 shares at $64.37 per share price, according to the Form-4 filing with the securities and exchange commission.
U.S. Concrete Inc. is a producer of ready-mixed concrete in select markets in the United States. The Company operates through two segments: ready-mixed concrete and aggregate products. Its ready-mixed concrete engages in the formulation production and delivery of ready-mixed concrete to its customers’ job sites. It provides ready-mixed concrete from its operations in north Texas west Texas northern California New Jersey New York Washington D.C. and Oklahoma. Its aggregate products segment produces crushed stone sand and gravel from seven aggregates facilities located in New Jersey and Texas. Its customers include contractors for commercial and industrial residential street and highway and other public works construction. It has approximately 139 ready-mixed concrete plants 16 volumetric ready-mixed concrete facilities and 12 producing aggregates facilities. Its Wantage Stone reserves a site development quarry which include an 80 acre land that is located in New Jersey.