In a report issued on May 14, Rohit Seth from Truist Financial maintained a Hold rating on US Concrete (USCR), with a price target of $43.00. The company’s shares closed last Friday at $27.77.
Seth has an average return of 9.3% when recommending US Concrete.
According to TipRanks.com, Seth is ranked #1595 out of 6912 analysts.
The word on The Street in general, suggests a Hold analyst consensus rating for US Concrete with a $22.50 average price target, representing a -17.4% downside. In a report issued on July 18, Stifel Nicolaus also downgraded the stock to Hold with a $53.00 price target.
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Based on US Concrete’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $334 million and GAAP net loss of $3.1 million. In comparison, last year the company earned revenue of $368 million and had a net profit of $700K.
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U.S. Concrete, Inc. engages in the production of ready-mixed concrete. It operates through Ready-mixed Concrete and Aggregate Products segments. The Ready-Mixed Concrete segment focuses on the formulation, preparation, and delivery of ready-mixed concrete to the job sites of customers. The Aggregate Products segment produces crushed stone, sand and gravel from aggregates facilities located in New Jersey and Texas, Oklahoma, United States, Virgin Islands, and British Columbia, Canada. The company was founded in July 1997 and is headquartered in Euless, TX.
