DA Davidson Initiates Coverage on US Concrete Inc to Buy

DA Davidson Initiates Coverage on US Concrete Inc(NASDAQ:USCR). The shares have been rated Buy. The rating by DA Davidson was issued on Jun 9, 2016.

In a different note, BB&T Capital said it Initiates Coverage on US Concrete Inc, according to a research note issued on Apr 21, 2016. The shares have been rated ‘Buy’ by the firm. On Apr 20, 2016, Sidoti & Co. said it Downgrades its rating on US Concrete Inc. The shares have been rated ‘Neutral’ by the firm. On Apr 1, 2016, Citigroup said it Maintains its rating on US Concrete Inc. In the research note, the firm Raises the price-target to $62.00 per share. The shares have been rated ‘Buy’ by the firm.

US Concrete Inc (USCR) made into the market gainers list on Wednesdays trading session with the shares advancing 0.56% or 0.34 points. Due to strong positive momentum, the stock ended at $60.68, which is also near the day’s high of $61.94. The stock began the session at $60.76 and the volume stood at 2,83,525 shares. The 52-week high of the shares is $69.66 and the 52 week low is $36.37. The company has a current market capitalization of $920 M and it has 1,51,55,634 shares in outstanding.

US Concrete Inc(USCR) last announced its earnings results on May 5, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $245.04M. Analysts had an estimated revenue of $221.14M. Earnings per share were $0.31. Analysts had estimated an EPS of $0.22.

Several Insider Transactions has been reported to the SEC. On Jun 7, 2016, Jeffrey W Roberts (VP & GM – Ingram Concrete, LLC) sold 1,000 shares at $62.65 per share price.Also, 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.

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