Vulcan Materials (NYSE:VMC) Coverage Initiated at DA Davidson

Key Points

• DA Davidson initiated coverage of Vulcan Materials with a “buy” rating and a $330 price target, implying 19.62% upside from the prior close.
• Analyst sentiment is broadly positive, with nine Buy ratings and seven Holds producing a “Moderate Buy” consensus and an average price target of $328.64.
• Vulcan Materials recently exceeded quarterly expectations, reporting $2.59 in EPS versus the $2.46 consensus and $2.16 billion in revenue, up 2.5% year over year.

Analysts at DA Davidson started coverage on shares of Vulcan Materials (NYSE:VMC - Get Free Report) in a note issued to investors on Tuesday. The firm set a "buy" rating and a $330.00 price target on the construction company's stock. DA Davidson's target price suggests a potential upside of 19.62% from the stock's previous close.

Several other equities analysts have also issued reports on VMC. Stephens lifted their price target on Vulcan Materials from $330.00 to $340.00 and gave the company an "overweight" rating in a research note on Thursday, April 30th. Barclays upped their price objective on Vulcan Materials from $296.00 to $340.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Royal Bank Of Canada raised their price objective on Vulcan Materials from $293.00 to $300.00 and gave the company a "sector perform" rating in a research note on Thursday, July 30th. Wells Fargo & Company decreased their target price on Vulcan Materials from $310.00 to $305.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 8th. Finally, Citigroup lowered their target price on Vulcan Materials from $355.00 to $350.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. Nine analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, Vulcan Materials presently has a consensus rating of "Moderate Buy" and a consensus price target of $328.64.

Vulcan Materials Stock Performance

Shares of Vulcan Materials stock opened at $275.87 on Tuesday. The company has a 50 day moving average of $288.85 and a 200-day moving average of $287.23. Vulcan Materials has a 1-year low of $252.35 and a 1-year high of $331.09. The company has a current ratio of 1.76, a quick ratio of 1.20 and a debt-to-equity ratio of 0.47. The company has a market cap of $35.75 billion, a PE ratio of 32.57, a price-to-earnings-growth ratio of 1.99 and a beta of 1.06.

Vulcan Materials (NYSE:VMC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The construction company reported $2.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.46 by $0.13. Vulcan Materials had a net margin of 13.75% and a return on equity of 13.05%. The business had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.14 billion. During the same period last year, the firm posted $2.42 earnings per share. The firm's quarterly revenue was up 2.5% compared to the same quarter last year. As a group, equities research analysts forecast that Vulcan Materials will post 9.29 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP David P. Clement sold 2,212 shares of Vulcan Materials stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $292.29, for a total value of $646,545.48. Following the transaction, the senior vice president directly owned 8,716 shares of the company's stock, valued at $2,547,599.64. The trade was a 20.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.65% of the stock is owned by company insiders.

Hedge Funds Weigh In On Vulcan Materials

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Atria Investments Inc grew its position in Vulcan Materials by 54.1% in the 4th quarter. Atria Investments Inc now owns 12,334 shares of the construction company's stock valued at $3,518,000 after purchasing an additional 4,331 shares during the period. SCS Capital Management LLC acquired a new position in Vulcan Materials during the second quarter worth $19,628,000. BlackRock Inc. bought a new position in shares of Vulcan Materials in the second quarter valued at $2,868,444,000. Westfield Capital Management Co. LP lifted its stake in shares of Vulcan Materials by 7.4% in the fourth quarter. Westfield Capital Management Co. LP now owns 254,044 shares of the construction company's stock valued at $72,459,000 after buying an additional 17,488 shares in the last quarter. Finally, Palmer Knight Co acquired a new position in shares of Vulcan Materials during the second quarter valued at about $9,458,000. Institutional investors and hedge funds own 90.39% of the company's stock.

About Vulcan Materials

Vulcan Materials Company NYSE: VMC is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company's primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.

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