Bank of New York Mellon Corp Invests $27.36 Million in Suncrete $RMIX

Key Points

• Bank of New York Mellon acquired 1.21 million Suncrete shares worth approximately $27.36 million, representing about 1.70% of the company.
• Suncrete reported a quarterly loss of $0.72 per share, missing the $0.02 loss estimate, while revenue of $97.23 million fell short of forecasts but increased 146.2% year over year.
• Analysts maintain a generally positive view, with the stock receiving an average “Buy” rating and a consensus price target of $22.25.

Bank of New York Mellon Corp bought a new position in Suncrete (NASDAQ:RMIX - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm bought 1,214,384 shares of the company's stock, valued at approximately $27,360,000. Bank of New York Mellon Corp owned approximately 1.70% of Suncrete as of its most recent SEC filing.

Suncrete Price Performance

RMIX opened at $17.50 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.40 and a debt-to-equity ratio of 0.56. The stock has a market cap of $1.29 billion, a P/E ratio of -125.00 and a beta of 0.72. The business's fifty day moving average price is $19.13. Suncrete has a 1 year low of $9.20 and a 1 year high of $25.50.

Suncrete (NASDAQ:RMIX - Get Free Report) last announced 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 firm had revenue of $97.23 million for the quarter, compared to the consensus estimate of $104.93 million. Suncrete's quarterly revenue was up 146.2% on a year-over-year basis. As a group, equities analysts anticipate that Suncrete will post -0.01 EPS for the current year.

Analyst Ratings Changes

A number of analysts have commented on the stock. William Blair started coverage on shares of Suncrete in a research note on Monday, May 4th. They set an "outperform" rating for the company. Weiss Ratings upgraded shares of Suncrete from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, August 14th. Roth Capital assumed coverage on shares of Suncrete in a research report on Thursday, May 14th. They set a "buy" rating and a $21.00 target price for the company. Robert W. Baird began coverage on shares of Suncrete in a research report on Wednesday, May 27th. They set an "outperform" rating and a $21.00 target price for the company. Finally, Wall Street Zen upgraded shares of Suncrete to a "sell" rating in a report on Saturday, June 13th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $22.25.

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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