John Leonard, CFA • 27 Comments
Wed, Mar. 30, 2:36 PM
- U.S. Concrete (USCR -5.9%) stumbles following a StreetSweeper report that says shares are set to "go down, down, down" following a near 20% YTD return and a more than 80% rally over the past year.
- The report says shares are trading at an "incredible" P/E ratio of 544, which implies that investors are paying 22x for USCR than the average 24 P/E seen within the broader industry, and that the nearly $1B market valuation placed on the company is "outlandish."
- Insiders have picking up the pace of sales in recent months, suggesting shares may be overvalued at ~$55/share, according to the report.
Wed, Jan. 13, 5:54 PM
- Self-storage REIT Extra Space Storage (NYSE:EXR) is up 2% after hours as it's set to join the S&P 500 after the close of trading Friday.
- The company is replacing Chubb (CB -0.7%), which is being acquired by ACE Ltd. (already in S&P 500) in a deal expected to close tomorrow. Ace will change its name to Chubb and take over the CB ticker symbol after that closure.
- EPR Properties (NYSE:EPR) will replace Extra Space Storage in the S&P MidCap 400, and U.S. Concrete (NASDAQ:USCR) is replacing EPR in the SmallCap 600 after Friday's close. USCR is up 4.1% after hours.
- With Wausau Paper (NYSE:WPP) set to be acquired by SCA around Jan. 20, World Wrestling Entertainment (NYSE:WWE), up 4.1% after hours, is replacing Wausau in the SmallCap 600 after the close that day.
Nov. 5, 2015, 6:17 AM
- US Concrete (NASDAQ:USCR): Q3 EPS of $1.97 beats by $0.90.
- Revenue of $295.1M (+49.3% Y/Y) beats by $14.96M.
- Shares +5.6% PM.
Dec. 18, 2012, 2:20 PM
U.S. Concrete (USCR +4.1%) says it's completed the sale of its wholly owned subsidiary, Smith Precast, for $4.27M in cash to Jensen Enterprises. The company says proceeds from the sale will be used to repay debt under its revolving credit facility and create liquidity for earnings enhancing activities such as acquisitions and organic growth opportunities.| Dec. 18, 2012, 2:20 PM
Oct. 19, 2012, 12:45 PM