Suncrete (NASDAQ:RMIX) Receives Buy Rating from B. Riley Financial

Key Points

• B. Riley Financial reaffirmed a “buy” rating on Suncrete and lowered its price target to $25 from $26, implying 42.86% upside from the prior close.
• Analyst sentiment remains positive overall, with Suncrete carrying a consensus “Buy” rating and an average price target of $22.25, despite one recent “sell” downgrade.
• Suncrete’s latest quarter fell short of expectations, reporting a $0.72 per-share loss and $97.23 million in revenue versus estimates of a $0.02 loss and $104.93 million, although revenue rose 146.2% year over year.

Suncrete (NASDAQ:RMIX - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at B. Riley Financial in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $25.00 price objective on the stock, down from their prior price objective of $26.00. B. Riley Financial's target price indicates a potential upside of 42.86% from the stock's previous close.

Several other analysts have also recently commented on RMIX. Wall Street Zen upgraded Suncrete to a "sell" rating in a report on Saturday, June 13th. William Blair initiated coverage on shares of Suncrete in a research report on Monday, May 4th. They issued an "outperform" rating on the stock. Roth Capital started coverage on shares of Suncrete in a research note on Thursday, May 14th. They issued a "buy" rating and a $21.00 price objective on the stock. Jefferies Financial Group restated a "buy" rating and issued a $22.00 target price on shares of Suncrete in a report on Tuesday. Finally, Robert W. Baird assumed coverage on shares of Suncrete in a research report on Wednesday, May 27th. They set an "outperform" rating and a $21.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $22.25.

Suncrete Price Performance

Shares of NASDAQ:RMIX opened at $17.50 on Wednesday. Suncrete has a 12-month low of $9.20 and a 12-month high of $25.50. The stock's fifty day moving average is $19.92.

Suncrete (NASDAQ:RMIX - Get Free Report) last released its quarterly earnings results on Friday, August 14th. The company reported ($0.72) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.70). The business had revenue of $97.23 million during the quarter, compared to analysts' expectations of $104.93 million. The business's revenue for the quarter was up 146.2% on a year-over-year basis. Analysts expect that Suncrete will post 0.21 earnings per share for the current fiscal year.

Institutional Trading of Suncrete

A hedge fund recently bought a new stake in Suncrete stock. Bank of New York Mellon Corp bought a new position in shares of Suncrete (NASDAQ:RMIX - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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. Institutional investors own 71.07% of the company's stock.

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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