Barclays Cuts Vulcan Materials (NYSE:VMC) Price Target to $296.00

Key Points

• Barclays cut its price target for Vulcan Materials from $320.00 to $296.00 while maintaining an "overweight" rating, implying roughly a 9.85% upside from the current price.
• Analysts remain generally positive with a MarketBeat average rating of "Moderate Buy" and an average price target of $324.57 (coverage: 1 Strong Buy, 11 Buy, 5 Hold, 1 Sell).
• Vulcan recently missed quarterly expectations—EPS $1.70 vs. $2.11 expected and revenue slightly below estimates—and the stock trades around $269.46 with a PE of 33.16 and market cap of about $35.15B.

Vulcan Materials (NYSE:VMC - Get Free Report) had its target price dropped by research analysts at Barclays from $320.00 to $296.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the construction company's stock. Barclays's price target indicates a potential upside of 9.85% from the company's current price.

Several other research analysts have also recently issued reports on the stock. DA Davidson decreased their target price on shares of Vulcan Materials from $330.00 to $320.00 and set a "neutral" rating for the company in a report on Wednesday, February 18th. Truist Financial raised their price target on shares of Vulcan Materials from $320.00 to $360.00 and gave the company a "buy" rating in a research report on Thursday, February 19th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $320.00 price objective (down from $335.00) on shares of Vulcan Materials in a report on Wednesday, March 4th. Morgan Stanley upped their price objective on Vulcan Materials from $321.00 to $322.00 and gave the company an "equal weight" rating in a research report on Monday, March 9th. Finally, B. Riley Financial began coverage on Vulcan Materials in a report on Thursday, January 15th. They issued a "buy" rating and a $345.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Vulcan Materials currently has an average rating of "Moderate Buy" and an average price target of $324.57.

Vulcan Materials Stock Up 0.9%

Shares of NYSE VMC traded up $2.52 during trading on Tuesday, reaching $269.46. The company had a trading volume of 563,526 shares, compared to its average volume of 1,257,739. Vulcan Materials has a 12-month low of $218.87 and a 12-month high of $331.09. The company has a quick ratio of 1.97, a current ratio of 2.69 and a debt-to-equity ratio of 0.51. The business's 50-day moving average is $293.64 and its 200 day moving average is $294.53. The stock has a market cap of $35.15 billion, a PE ratio of 33.16, a P/E/G ratio of 1.82 and a beta of 1.05.

Vulcan Materials (NYSE:VMC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 17th. The construction company reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.41). Vulcan Materials had a return on equity of 12.56% and a net margin of 13.56%.The company had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.95 billion. During the same period in the prior year, the firm earned $2.17 EPS. Vulcan Materials's revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, equities analysts forecast that Vulcan Materials will post 8.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Vulcan Materials

In related news, Director Melissa H. Anderson sold 1,137 shares of the stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $303.72, for a total transaction of $345,329.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.61% of the stock is owned by insiders.

Institutional Investors Weigh In On Vulcan Materials

Several institutional investors and hedge funds have recently added to or reduced their stakes in VMC. Westside Investment Management Inc. lifted its holdings in shares of Vulcan Materials by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 84 shares of the construction company's stock valued at $25,000 after buying an additional 42 shares during the period. NBT Bank N A NY bought a new stake in shares of Vulcan Materials in the fourth quarter worth $26,000. Greykasell Wealth Strategies Inc. bought a new stake in shares of Vulcan Materials in the third quarter worth $29,000. Measured Wealth Private Client Group LLC purchased a new stake in Vulcan Materials during the third quarter valued at $30,000. Finally, Birchwood Financial Partners Inc. bought a new position in Vulcan Materials in the fourth quarter valued at about $29,000. Hedge funds and other institutional investors 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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