Suncrete (NASDAQ:RMIX) Stock Now Rated "Buy" by Wall Street Analysts

Key Points

• Suncrete has a consensus “Buy” rating from six analysts, including three buys and two strong buys, with an average 12-month price target of $22.25.
• Institutional investors own 71.07% of the company’s stock, with several major firms—including Alyeska Investment Group and Bank of New York Mellon—establishing new positions during the second quarter.
• Despite revenue increasing 146.2% year over year to $97.23 million, Suncrete reported a quarterly loss of $0.72 per share, substantially missing the $0.02 loss expected by analysts; shares opened at $10.08, near their 12-month low.

Suncrete (NASDAQ:RMIX - Get Free Report) has received a consensus recommendation of "Buy" from the six research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a buy rating and two have assigned a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $22.25.

Several research firms have issued reports on RMIX. Weiss Ratings downgraded shares of Suncrete from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, September 24th. Wall Street Zen lowered shares of Suncrete from a "sell" rating to a "strong sell" rating in a research report on Saturday, October 3rd. Jefferies Financial Group reaffirmed a "buy" rating and issued a $22.00 price target on shares of Suncrete in a report on Tuesday, August 18th. Finally, B. Riley Financial reaffirmed a "buy" rating and issued a $25.00 price target (down from $26.00) on shares of Suncrete in a report on Wednesday, August 19th.

Institutional Investors Weigh In On Suncrete

Several large investors have recently added to or reduced their stakes in RMIX. Alyeska Investment Group L.P. bought a new position in Suncrete in the 2nd quarter worth about $78,044,000. Bank of New York Mellon Corp purchased a new stake in shares of Suncrete in the 2nd quarter valued at about $27,360,000. Harraden Circle Investments LLC purchased a new stake in shares of Suncrete in the 2nd quarter valued at about $17,647,000. State Street Corp bought a new stake in shares of Suncrete during the 2nd quarter valued at about $4,358,000. Finally, Susquehanna International Group LLP bought a new stake in shares of Suncrete during the 2nd quarter valued at about $285,000. Institutional investors own 71.07% of the company's stock.

Suncrete Trading Down 1.1%

RMIX stock opened at $10.08 on Friday. The company has a 50 day moving average price of $14.80. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.40 and a quick ratio of 1.15. Suncrete has a 12 month low of $9.20 and a 12 month high of $25.50. The company has a market capitalization of $740.78 million, a price-to-earnings ratio of -72.00 and a beta of 0.83.

Suncrete (NASDAQ:RMIX - Get Free Report) last issued its quarterly earnings data 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. Suncrete's revenue was up 146.2% on a year-over-year basis. Sell-side analysts predict that Suncrete will post -0.01 EPS for the current year.

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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