Suncrete (NASDAQ:RMIX) Given Consensus Recommendation of "Buy" by Brokerages

Key Points

• Analysts maintain a “Buy” consensus on Suncrete, with three buy ratings, two strong-buy ratings, and one hold. The average 12-month price target is $22.25, although B. Riley lowered its target to $25 from $26.
• Suncrete reported a quarterly loss of $0.72 per share, missing the consensus estimate of a $0.02 loss, while revenue of $97.23 million also fell short of expectations. Revenue nevertheless increased 146.2% year over year.
• Institutional investors own 71.07% of the stock, with several major firms—including Alyeska Investment Group, Bank of New York Mellon, and Harraden Circle Investments—establishing positions during the second quarter.

Shares of Suncrete (NASDAQ:RMIX - Get Free Report) have been given a consensus recommendation of "Buy" by the six research firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $22.25.

A number of analysts recently commented on RMIX shares. B. Riley Financial restated a "buy" rating and issued a $25.00 price objective (down from $26.00) on shares of Suncrete in a research report on Wednesday, August 19th. Roth Capital assumed coverage on Suncrete in a report on Thursday, May 14th. They set a "buy" rating and a $21.00 target price on the stock. Weiss Ratings raised Suncrete from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, August 14th. Wall Street Zen upgraded Suncrete to a "sell" rating in a report on Saturday, June 13th. Finally, William Blair started coverage on Suncrete in a research report on Monday, May 4th. They set an "outperform" rating on the stock.

Suncrete Price Performance

Suncrete stock opened at $17.69 on Thursday. The business's 50 day moving average price is $19.42. Suncrete has a fifty-two week low of $9.20 and a fifty-two week high of $25.50. The company has a market cap of $1.30 billion, a price-to-earnings ratio of -126.36 and a beta of 0.72. The company has a quick ratio of 1.15, a current ratio of 1.40 and a debt-to-equity ratio of 0.56.

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 business had revenue of $97.23 million for the quarter, compared to analysts' expectations of $104.93 million. The firm's quarterly revenue was up 146.2% on a year-over-year basis. As a group, analysts predict that Suncrete will post -0.01 EPS for the current fiscal year.

Institutional Trading of Suncrete

A number of large investors have recently bought and sold shares of the business. Susquehanna International Group LLP bought a new position in Suncrete in the second quarter valued at approximately $285,000. Harraden Circle Investments LLC bought a new stake in shares of Suncrete during the second quarter worth $17,647,000. Bank of New York Mellon Corp bought a new stake in shares of Suncrete during the second quarter worth $27,360,000. Finally, Alyeska Investment Group L.P. bought a new stake in shares of Suncrete during the second quarter worth $78,044,000. 71.07% of the stock is owned by institutional investors.

About Suncrete

Haymaker Acquisition Corp. 4 is a blank check company. It focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or other business combination with one or more businesses or entities. Haymaker Acquisition Corp. 4 is based in New York.

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