Martin Marietta Materials (NYSE:MLM) Stock Gets Price Target Increase from Stifel Nicolaus

Key Points

• Stifel Nicolaus raised its price target on Martin Marietta Materials to $653 from $629 and maintained a Buy rating, implying 23.57% upside from the prior close.
• Analyst views are mixed: MarketBeat’s consensus is “Moderate Buy” with an average target of $635.85, while some firms recently cut targets or downgraded the stock.
• The company’s latest quarterly EPS of $5.47 missed estimates of $5.99, though revenue of $2.37 billion exceeded forecasts and rose 28.3% year over year.

Martin Marietta Materials (NYSE:MLM - Get Free Report) had its price objective upped by investment analysts at Stifel Nicolaus from $629.00 to $653.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a "buy" rating on the construction company's stock. Stifel Nicolaus's price objective suggests a potential upside of 23.57% from the stock's previous close.

Several other research analysts have also weighed in on MLM. Morgan Stanley lowered their price target on Martin Marietta Materials from $664.00 to $639.00 and set an "overweight" rating on the stock in a research report on Thursday, August 13th. Stephens lowered their target price on shares of Martin Marietta Materials from $680.00 to $600.00 and set an "overweight" rating on the stock in a report on Friday, October 2nd. Wall Street Zen lowered shares of Martin Marietta Materials from a "sell" rating to a "strong sell" rating in a research report on Saturday. B. Riley Financial lowered their price objective on shares of Martin Marietta Materials from $700.00 to $615.00 and set a "buy" rating on the stock in a research note on Tuesday. Finally, Zacks Research downgraded shares of Martin Marietta Materials from a "hold" rating to a "strong sell" rating in a research note on Tuesday, October 20th. Fifteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Martin Marietta Materials has an average rating of "Moderate Buy" and an average price target of $635.85.

Martin Marietta Materials Stock Down 0.5%

Shares of MLM stock opened at $528.45 on Wednesday. The firm's fifty day moving average price is $503.19 and its two-hundred day moving average price is $572.25. The company has a current ratio of 1.63, a quick ratio of 0.91 and a debt-to-equity ratio of 0.69. Martin Marietta Materials has a 1 year low of $464.92 and a 1 year high of $710.97. The firm has a market capitalization of $37.58 billion, a P/E ratio of 13.98, a PEG ratio of 2.92 and a beta of 1.02.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The construction company reported $5.47 EPS for the quarter, missing analysts' consensus estimates of $5.99 by ($0.52). The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.24 billion. Martin Marietta Materials had a return on equity of 7.96% and a net margin of 31.88%. The company's quarterly revenue was up 28.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.85 earnings per share. On average, equities analysts predict that Martin Marietta Materials will post 15.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Martin Marietta Materials

Several hedge funds have recently bought and sold shares of MLM. Meeder Asset Management Inc. grew its position in shares of Martin Marietta Materials by 67.9% in the first quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company's stock valued at $28,000 after purchasing an additional 19 shares during the last quarter. CoreCap Advisors LLC boosted its stake in Martin Marietta Materials by 370.0% in the 2nd quarter. CoreCap Advisors LLC now owns 47 shares of the construction company's stock valued at $27,000 after purchasing an additional 37 shares during the period. Activest Wealth Management grew its holdings in Martin Marietta Materials by 1,633.3% in the 3rd quarter. Activest Wealth Management now owns 52 shares of the construction company's stock valued at $25,000 after buying an additional 49 shares in the last quarter. WestEnd Advisors LLC grew its holdings in Martin Marietta Materials by 1,900.0% in the 3rd quarter. WestEnd Advisors LLC now owns 60 shares of the construction company's stock valued at $29,000 after buying an additional 57 shares in the last quarter. Finally, EFG International AG bought a new position in Martin Marietta Materials during the 2nd quarter worth $39,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

About Martin Marietta Materials

Martin Marietta Materials, Inc. is a U.S.-based supplier of building materials used in construction and infrastructure projects. Its products include crushed stone, sand and gravel, cement, ready-mixed concrete and asphalt. The company also produces specialty products through its magnesia-based business, including lime, chemicals and products used in industrial and environmental applications. Its construction materials operations serve markets across the United States. Martin Marietta traces its roots to 1939 and has grown through acquisitions and expansion of its materials operations.

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