Suncrete (NASDAQ:RMIX) Shares Gap Up – Still a Buy?
by Danessa Lincoln · The Markets DailySuncrete (NASDAQ:RMIX – Get Free Report)’s stock price gapped up prior to trading on Monday. The stock had previously closed at $12.39, but opened at $12.89. Suncrete shares last traded at $12.6950, with a volume of 7,875 shares traded.
Wall Street Analyst Weigh In
A number of research firms have weighed in on RMIX. Wall Street Zen upgraded Suncrete to a “sell” rating in a research report on Saturday, June 13th. B. Riley Financial reiterated a “buy” rating and issued a $25.00 price objective (down from $26.00) on shares of Suncrete in a report on Wednesday, August 19th. Jefferies Financial Group reiterated a “buy” rating and set a $22.00 price objective on shares of Suncrete in a research report on Tuesday, August 18th. Finally, Weiss Ratings cut Suncrete from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $22.25.
Suncrete Stock Down 2.2%
The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.15 and a current ratio of 1.40. The stock has a market cap of $938.12 million, a PE ratio of -91.45 and a beta of 0.71. The company has a fifty day moving average of $16.58.
Suncrete (NASDAQ:RMIX – Get Free Report) last issued its earnings results on Friday, August 14th. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.70). The company had revenue of $97.23 million for the quarter, compared to the consensus estimate of $104.93 million. The company’s quarterly revenue was up 146.2% compared to the same quarter last year. Sell-side analysts predict that Suncrete will post -0.01 earnings per share for the current year.
Institutional Trading of Suncrete
Several large investors have recently modified their holdings of RMIX. NewEdge Advisors LLC purchased a new stake in Suncrete in the 2nd quarter worth approximately $29,000. Susquehanna International Group LLP bought a new position in shares of Suncrete during the second quarter valued at approximately $285,000. State Street Corp bought a new position in shares of Suncrete during the second quarter valued at approximately $4,358,000. Harraden Circle Investments LLC purchased a new stake in Suncrete in the second quarter worth $17,647,000. Finally, Bank of New York Mellon Corp purchased a new stake in Suncrete in the second quarter worth $27,360,000. 71.07% of the stock is owned by institutional investors.
Suncrete Company Profile
Suncrete, Inc is a construction materials company that manufactures and supplies ready-mixed concrete and related concrete products. Its materials are used in residential, commercial and infrastructure construction projects.
The company serves construction contractors, developers and other customers through its operating facilities and delivery network. Its business is focused on producing concrete to meet project-specific requirements and transporting it to job sites.
Publicly available information about Suncrete’s corporate history, geographic footprint and leadership is limited.