Vulcan Materials (NYSE:VMC) Earns "Buy" Rating from DA Davidson

Key Points

• DA Davidson reaffirmed its “Buy” rating on Vulcan Materials and set a $330 price target, implying approximately 37% upside from the prior close.
• Analyst sentiment is mixed: eight analysts rate the stock a Buy, six Hold, and two Sell, resulting in a consensus rating of “Hold” and an average price target of $325.
• Vulcan’s latest quarterly results exceeded expectations, with earnings of $2.59 per share versus a $2.46 estimate and revenue of $2.16 billion, up 2.5% year over year.

Vulcan Materials (NYSE:VMC - Get Free Report)'s stock had its "buy" rating restated by investment analysts at DA Davidson in a research note issued on Monday, Benzinga reports. They presently have a $330.00 target price on the construction company's stock. DA Davidson's price target points to a potential upside of 36.99% from the company's previous close.

A number of other equities analysts also recently issued reports on the stock. Citigroup downgraded shares of Vulcan Materials from a "buy" rating to a "cautious" rating in a research note on Wednesday, September 9th. Oppenheimer initiated coverage on Vulcan Materials in a report on Thursday, May 28th. They set a "market perform" rating on the stock. Wall Street Zen lowered Vulcan Materials from a "hold" rating to a "sell" rating in a research report on Saturday, September 12th. Wells Fargo & Company cut Vulcan Materials from an "equal weight" rating to an "underweight" rating and lowered their target price for the company from $305.00 to $254.00 in a research note on Wednesday, September 9th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Vulcan Materials in a research report on Tuesday, July 7th. Eight investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, Vulcan Materials currently has an average rating of "Hold" and a consensus price target of $325.00.

Vulcan Materials Stock Performance

NYSE:VMC opened at $240.90 on Monday. The stock has a market cap of $31.22 billion, a P/E ratio of 28.44, a price-to-earnings-growth ratio of 2.17 and a beta of 1.05. The firm's fifty day simple moving average is $272.90 and its 200 day simple moving average is $279.83. Vulcan Materials has a twelve month low of $240.69 and a twelve month high of $331.09. The company has a quick ratio of 1.20, a current ratio of 1.76 and a debt-to-equity ratio of 0.47.

Vulcan Materials (NYSE:VMC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The construction company reported $2.59 EPS for the quarter, topping the consensus estimate of $2.46 by $0.13. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.14 billion. Vulcan Materials had a net margin of 13.75% and a return on equity of 13.05%. The company's revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.42 EPS. As a group, research analysts predict that Vulcan Materials will post 9.29 EPS for the current year.

Insider Buying and Selling

In other news, SVP David P. Clement sold 2,000 shares of the business's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $285.10, for a total value of $570,200.00. Following the sale, the senior vice president directly owned 6,716 shares of the company's stock, valued at $1,914,731.60. The trade was a 22.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director J. Hill sold 14,000 shares of the company's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $276.17, for a total value of $3,866,380.00. Following the completion of the sale, the director owned 58,209 shares in the company, valued at $16,075,579.53. The trade was a 19.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.65% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Vulcan Materials

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in shares of Vulcan Materials in the 2nd quarter worth about $2,868,444,000. Geode Capital Management LLC increased its stake in Vulcan Materials by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 3,576,172 shares of the construction company's stock valued at $1,016,168,000 after purchasing an additional 32,012 shares in the last quarter. Bank of America Corp DE purchased a new position in Vulcan Materials in the second quarter worth about $688,580,000. The Manufacturers Life Insurance Company purchased a new position in Vulcan Materials in the second quarter worth about $451,119,000. Finally, Norges Bank bought a new position in shares of Vulcan Materials in the fourth quarter worth approximately $383,613,000. 90.39% of the stock is owned by institutional investors.

Vulcan Materials Company Profile

Vulcan Materials Company NYSE: VMC is a major U.S. producer and supplier of construction materials. The company's primary business is aggregates, including crushed stone, sand and gravel, which are used in roads, bridges, buildings and other infrastructure projects.

Vulcan also produces and distributes asphalt and ready-mixed concrete, as well as calcium products used in construction, industrial and other applications. Its products are sold to public-sector customers, contractors, commercial developers and other businesses involved in construction and infrastructure development.

Founded in 1909 and headquartered in Birmingham, Alabama, Vulcan Materials has expanded through organic growth and acquisitions to operate production facilities, distribution terminals and related assets across much of the United States.

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