There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Earthstone Energy (NYSE MKT:ESTE) and US Concrete (NASDAQ:USCR) with bullish sentiments.
Earthstone Energy (ESTE)
In a report released yesterday, Jeff Grampp from Northland Securities reiterated a Buy rating on Earthstone Energy, with a price target of $14. The company’s shares closed yesterday at $8.45, close to its 52-week low of $7.80.
According to TipRanks.com, Grampp is a 3-star analyst with an average return of 1.7% and a 47.0% success rate. Grampp covers the Basic Materials sector, focusing on stocks such as Sanchez Energy Corporation, Penn Virginia Corporation, and Sundance Energy Australia.
Currently, the analyst consensus on Earthstone Energy is a Strong Buy with an average price target of $13.50, representing a 59.8% upside. In a report released yesterday, Imperial Capital also maintained a Buy rating on the stock with a $10 price target.
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US Concrete (USCR)
Stifel Nicolaus analyst Stanley Elliott reiterated a Buy rating on US Concrete yesterday and set a price target of $73. The company’s shares closed yesterday at $51.80.
According to TipRanks.com, Elliott is a 5-star analyst with an average return of 15.3% and a 67.5% success rate. Elliott covers the Industrial Goods sector, focusing on stocks such as Astec Industries, Generac Holdings, and CNH Industrial.
Currently, the analyst consensus on US Concrete is a Strong Buy with an average price target of $79.33, a 53.1% upside from current levels. In a report issued on August 6, SunTrust Robinson also reiterated a Buy rating on the stock with a $70 price target.
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