US Concrete Inc (USCR) is Initiated by SunTrust to Buy, Price Target at $75

US Concrete Inc (USCR) was Initiated by SunTrust to “Buy” and the brokerage firm has set the Price Target at $75. SunTrust advised their investors in a research report released on Aug 8, 2016.

Many Wall Street Analysts have commented on US Concrete Inc. US Concrete Inc was Upgraded by Sidoti to ” Buy” on Jun 10, 2016. DA Davidson Initiated US Concrete Inc on Jun 9, 2016 to “Buy”, Price Target of the shares are set at $80.

On the company’s financial health, US Concrete Inc reported $0.54 EPS for the quarter, missing the analyst consensus estimate by $ -0.41 based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus of $0.95. The company had revenue of $275.80 million for the quarter, compared to analysts expectations of $294.25 million. The company’s revenue was up 12.7% compared to the same quarter last year.

US Concrete Inc closed down -2.42 points or -4.15% at $55.91 with 10,24,696 shares getting traded on Friday. Post opening the session at $58.77, the shares hit an intraday low of $55.3 and an intraday high of $58.77 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Jul 29, 2016, William J Sandbrook (President & CEO) sold 6,500 shares at $66.23 per share price. According to the SEC, on Jul 14, 2016, Colin Mcgill Sutherland (director) sold 200 shares at $62.41 per share price. On Jun 21, 2016, Jeffrey W Roberts (VP & GM – Ingram Concrete, LLC) sold 1,000 shares at $61.11 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.

US Concrete Inc

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