US Concrete Inc (USCR) is Initiated by BB&T Capital Mkts to Buy, Price Target at $80

US Concrete Inc (USCR) was Initiated by BB&T Capital Mkts to “Buy” and the brokerage firm has set the Price Target at $80. BB&T Capital Mkts advised their investors in a research report released on Apr 21, 2016.

Many Wall Street Analysts have commented on US Concrete Inc. US Concrete Inc was Downgraded by Sidoti to ” Neutral” on Apr 20, 2016. US Concrete Inc was Upgraded by Citigroup to ” Buy” on Feb 5, 2016.

On the company’s financial health, US Concrete Inc reported $0.92 EPS for the quarter, beating the analyst consensus estimate by $ 0.31 according to the earnings call on Mar 3, 2016. Analyst had a consensus of $0.61. The company had revenue of $263.60 million for the quarter, compared to analysts expectations of $252.61 million. The company’s revenue was up 46.9% compared to the same quarter last year.

US Concrete Inc opened for trading at $64.01 and hit $65.78 on the upside on Monday, eventually ending the session at $64.72, with a gain of 0.92% or 0.59 points. The heightened volatility saw the trading volume jump to 3,66,949 shares. Company has a market cap of $983 M.

In a different news, on Apr 13, 2016, Colin Mcgill Sutherland (director) sold 200 shares at $60.76 per share price. According to the SEC, on Mar 28, 2016, William J Sandbrook (President & CEO) sold 6,500 shares at $62.22 per share price. On Mar 21, 2016, Mark Baker Peabody (VP – Human Resources) sold 2,000 shares at $55.00 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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