Vulcan Materials (NYSE:VMC) Price Target Raised to $315.00

Key Points

• B. Riley Financial raised Vulcan Materials’ price target from $300 to $315 and maintained a “buy” rating, implying 9.47% upside from the reported $287.74 share price.
• Analyst sentiment remains positive overall, with 12 Buy, 9 Hold and 1 Sell ratings; the consensus rating is “Moderate Buy” with an average target price of $309.61.
• Vulcan’s latest quarterly results slightly exceeded EPS expectations at $2.83 versus $2.81, but revenue fell 4.7% year over year to $2.18 billion, below analyst estimates of $2.24 billion.

Vulcan Materials (NYSE:VMC - Get Free Report) had its price target lifted by B. Riley Financial from $300.00 to $315.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a "buy" rating on the construction company's stock. B. Riley Financial's price target would suggest a potential upside of 9.47% from the company's current price.

VMC has been the subject of several other research reports. Raymond James Financial dropped their target price on shares of Vulcan Materials from $320.00 to $308.00 and set an "outperform" rating for the company in a report on Friday, October 16th. JPMorgan Chase & Co. dropped their price objective on Vulcan Materials from $320.00 to $300.00 and set a "neutral" rating for the company in a research note on Tuesday, October 13th. Truist Financial cut their price objective on Vulcan Materials from $360.00 to $320.00 and set a "buy" rating on the stock in a report on Monday, October 5th. DA Davidson raised their target price on Vulcan Materials from $315.00 to $330.00 and gave the company a "buy" rating in a report on Friday. Finally, Stephens dropped their target price on Vulcan Materials from $340.00 to $285.00 and set an "overweight" rating for the company in a research report on Friday, October 2nd. Twelve research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $309.61.

Vulcan Materials Trading Up 2.3%

Shares of Vulcan Materials stock traded up $6.49 during trading hours on Monday, hitting $287.74. The company's stock had a trading volume of 391,166 shares, compared to its average volume of 1,175,201. The firm has a fifty day moving average of $255.77 and a 200-day moving average of $280.40. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.96 and a current ratio of 1.43. The stock has a market cap of $36.93 billion, a price-to-earnings ratio of 34.08, a P/E/G ratio of 2.91 and a beta of 0.99. Vulcan Materials has a twelve month low of $237.03 and a twelve month high of $331.09.

Vulcan Materials (NYSE:VMC - Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The construction company reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.02. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.24 billion. Vulcan Materials had a net margin of 13.77% and a return on equity of 13.03%. During the same period in the previous year, the firm earned $2.84 EPS. Vulcan Materials's revenue was down 4.7% on a year-over-year basis. Research analysts forecast that Vulcan Materials will post 8.86 EPS for the current year.

Insiders Place Their Bets

In other news, Director J. Hill sold 14,000 shares of the stock in a transaction 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 sale, the director directly owned 58,209 shares in the company, valued at approximately $16,075,579.53. This trade represents a 19.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP David Clement sold 2,000 shares of Vulcan Materials stock in a transaction on Friday, August 7th. The shares were sold at an average price of $285.10, for a total value of $570,200.00. Following the completion of the transaction, the senior vice president owned 6,716 shares of the company's stock, valued at approximately $1,914,731.60. This trade represents a 22.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.65% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Vulcan Materials

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Burkett Financial Services LLC acquired a new stake in Vulcan Materials in the second quarter valued at approximately $25,000. Meeder Asset Management Inc. grew its holdings in Vulcan Materials by 71.7% during the 1st quarter. Meeder Asset Management Inc. now owns 103 shares of the construction company's stock worth $28,000 after acquiring an additional 43 shares in the last quarter. Clearstead Trust LLC acquired a new position in Vulcan Materials during the 2nd quarter worth approximately $37,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Vulcan Materials during the 2nd quarter worth approximately $51,000. Finally, Western Wealth Management LLC purchased a new stake in shares of Vulcan Materials in the 1st quarter valued at approximately $57,000. Hedge funds and other institutional investors own 90.39% of the company's stock.

Vulcan Materials Company Profile

Vulcan Materials Company NYSE: VMC is a producer and distributor of construction materials used in infrastructure, commercial, residential and industrial projects. The company is the largest producer of construction aggregates in the United States, including crushed stone, sand and gravel.

In addition to aggregates, Vulcan Materials produces asphalt mix, ready-mixed concrete and cement. Its materials are used in roads, bridges, airports, commercial buildings, homes and other construction applications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.