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U.S. Concrete (USCR) Soars 8.4%: Is Further Upside Left in the Stock?

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Zacks Equity Research
·2 min read
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U.S. Concrete (USCR) shares soared 8.4% in the last trading session to close at $71.95. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 20.3% gain over the past four weeks.

Robust aggregate products volume and revenues as well as increase in average selling price related to the favorable mix of products sold seem to have been boosting investors’ confidence. Moreover, the company recently announced changes to its board of directors.

Price and Consensus

Price Consensus Chart for USCR
Price Consensus Chart for USCR

This concrete and aggregates producer is expected to post quarterly loss of $0.31 per share in its upcoming report, which represents a year-over-year change of -675%. Revenues are expected to be $312.1 million, down 6.7% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For U.S. Concrete, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on USCR going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>


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