The stock of US Concrete Inc (NASDAQ:USCR) is a huge mover today! The stock increased 4.44% or $2.6 on November 23, hitting $61.1. About 677,393 shares traded hands or 33.08% up from the average. US Concrete Inc (NASDAQ:USCR) has declined 8.81% since April 22, 2016 and is downtrending. It has underperformed by 14.22% the S&P500.
The move comes after 6 months positive chart setup for the $975.73M company. It was reported on Nov, 24 by Barchart.com. We have $64.77 PT which if reached, will make NASDAQ:USCR worth $58.54M more.
Analysts await US Concrete Inc (NASDAQ:USCR) to report earnings on March, 2. They expect $0.60 earnings per share, down 30.23% or $0.26 from last year’s $0.86 per share. USCR’s profit will be $9.58 million for 25.46 P/E if the $0.60 EPS becomes a reality. After $1.09 actual earnings per share reported by US Concrete Inc for the previous quarter, Wall Street now forecasts -44.95% negative EPS growth.
US Concrete Inc (NASDAQ:USCR) Ratings Coverage
Out of 4 analysts covering U.S. Concrete (NASDAQ:USCR), 2 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 50% are positive. U.S. Concrete has been the topic of 5 analyst reports since November 24, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by BB&T Capital given on Thursday, April 21. The stock has “Neutral” rating given by Sidoti on Wednesday, April 20. The stock of US Concrete Inc (NASDAQ:USCR) earned “Buy” rating by Sidoti on Tuesday, November 24. The company was initiated on Thursday, June 9 by DA Davidson. Citigroup initiated the stock with “Neutral” rating in Tuesday, December 15 report.
According to Zacks Investment Research, “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.”
Insitutional Activity: The institutional sentiment decreased to 1.02 in Q2 2016. Its down 0.23, from 1.25 in 2016Q1. The ratio dropped, as 23 funds sold all US Concrete Inc shares owned while 61 reduced positions. 39 funds bought stakes while 66 increased positions. They now own 14.83 million shares or 12.54% less from 16.95 million shares in 2016Q1.
Waddell & Reed Incorporated owns 191,600 shares or 0.02% of their US portfolio. Blackrock Grp Ltd has 0% invested in the company for 14,100 shares. Blackrock Incorporated accumulated 1,339 shares or 0% of the stock. The Ontario – Canada-based Picton Mahoney Asset Mngmt has invested 0.04% in US Concrete Inc (NASDAQ:USCR). Hightower Ltd reported 23,794 shares or 0.02% of all its holdings. Swiss Bank & Trust holds 0% of its portfolio in US Concrete Inc (NASDAQ:USCR) for 23,000 shares. Legal & General Public Llc holds 0% of its portfolio in US Concrete Inc (NASDAQ:USCR) for 2,407 shares. Waratah Capital Advsrs Ltd, a Ontario – Canada-based fund reported 8,410 shares. Moreover, Pear Tree Advsr has 0.68% invested in US Concrete Inc (NASDAQ:USCR) for 26,760 shares. Deutsche National Bank Ag last reported 260,214 shares in the company. Cortina Asset Ltd Liability Com owns 401,355 shares or 1.11% of their US portfolio. The Switzerland-based Zurcher Kantonalbank (Zurich Cantonalbank) has invested 0% in US Concrete Inc (NASDAQ:USCR). Group Inc has 10,571 shares for 0% of their US portfolio. Renaissance Techs Ltd holds 35,400 shares or 0% of its portfolio. Timpani Mngmt last reported 2.8% of its portfolio in the stock.
Insider Transactions: Since May 25, 2016, the stock had 1 buying transaction, and 16 insider sales for $1.70 million net activity. ROSSI THEODORE P had sold 4,000 shares worth $257,000 on Wednesday, June 8. The insider SANDBROOK WILLIAM J sold $318,822. 200 shares were sold by Sutherland Colin McGill, worth $9,644 on Wednesday, October 12. The insider Cellar Kurt Matthew sold 5,000 shares worth $312,750. $390,223 worth of US Concrete Inc (NASDAQ:USCR) shares were sold by DAVIS JEFF L. $62,650 worth of US Concrete Inc (NASDAQ:USCR) was sold by ROBERTS JEFFREY W. $1.01M worth of US Concrete Inc (NASDAQ:USCR) was bought by POULSEN NIEL L on Monday, August 8.
Another recent and important US Concrete Inc (NASDAQ:USCR) news was published by Bloomberg.com which published an article titled: “U.S. Concrete CEO Prowls for Deals as 18-Fold Stock Gain Stalls” on September 20, 2016.
USCR Company Profile
U.S. Concrete, Inc., incorporated on July 15, 1997, is a producer of ready-mixed concrete in a range of geographic markets in the United States. The Firm conducts its activities through two business divisions: ready-mixed concrete and aggregate products. The ready-mixed concrete segment engages principally in the formulation, production and delivery of ready-mixed concrete to its customers’ job sites. The aggregate products segment produces crushed stone, sand and gravel. The Firm operates approximately 140 standard ready-mixed concrete plants, over 20 volumetric ready-mixed concrete facilities, approximately 10 producing aggregates facilities, over three aggregates distribution terminals, over two lime slurry facilities and one recycled aggregates facility. The Firm operates over 1,360 drum mixer trucks and approximately 120 volumetric mixer trucks.
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