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USCR

U.S. Concrete

$59.00

-2.2 (-3.59%)

10:01
05/17/18
05/17
10:01
05/17/18
10:01

U.S. Concrete falls after Spruce Point predicts up to 90% share downside

Shares of U.S. Concrete are falling after short-selling research firm Spruce Point Capital Management put a "Strong Sell" recommendation on the name. It is "easy to justify" 60%-90% downside risk in the share price, Spruce Point wrote in a report posted on its website. The firm believes it is time for "significant change" at the company and is calling for the immediate resignation of its CEO. It explains, "Given our analysis that shows distortions in USCR's Non-GAAP figures, we believe the best way to value the Company is on Free Cash Flow. We expect further deterioration which began three years ago, and apply a 20x - 25x multiple to reflect a discount to the peer average for its above average exposure to ready-mix, poor roll-up economics, and growing liquidity risk. Secondly, we adjust USCR's book value for an estimated $60 - $85 million of overcapitalized costs to its vehicle property accounts and apply a 1.0x - 1.5x multiple range. These valuation perspectives indicate 60% to 90% downside or approximately $6.00 to $25.00 per share." US Concrete in morning trading is down 3% to $59.20. Reference Link

  • 04

    Jun

  • 05

    Jun

  • 13

    Jun

USCR U.S. Concrete
$59.00

-2.2 (-3.59%)

06/21/17
RHCO
06/21/17
NO CHANGE
RHCO
U.S. Concrete EPS 'on track to double,' says SunTrust
SunTrust analyst Rohit Seth says that U.S. Concrete's EPS is 'on track to (at least) double over the next two years." Seth expects the company's Q2 results to beat expectations. The analyst calls the stock's valuation attractive and labels the shares "a compelling Buy."
08/09/17
SBSH
08/09/17
NO CHANGE
Target $92
SBSH
Buy
U.S. Concrete price target raised to $92 from $80 at Citi
Citi analyst Scott Schrier raised his price target for U.S. Concrete to $92 saying the company posted "another good quarter" with 8% organic volume growth. The analyst keeps a Buy rating on the shares.
12/04/17
DADA
12/04/17
NO CHANGE
Target $105
DADA
Buy
U.S. Concrete price target raised to $105 from $95 at DA Davidson
DA Davidson analyst Brent Thielman raised his price target on U.S. Concrete, citing expectations of a volume ramp in 2018 and the prospects of the company's recent Polaris transaction which offers about 50% of concrete aggregates market share in San Francisco area. Thielman notes that earnings will grow another 32%-41% over the next two years, keeping his Buy rating on U.S. Concrete.
03/02/18
DADA
03/02/18
NO CHANGE
Target $98
DADA
Buy
U.S. Concrete price target lowered to $98 from $105 at DA Davidson
DA Davidson analyst Brent Thielman lowered his price target on U.S. Concrete to $98 after the company's "noisy" Q4 earnings that showed a miss in EPS and EBITDA driven by sales deferrals from adverse weather conditions. The analyst keeps his Buy rating on U.S. Concrete, saying its "concentrated ready-mix platform strategy and its advantages with suppliers and barriers to entry are underappreciated by the market".

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