Martin Marietta Materials (NYSE:MLM) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Martin Marietta Materials from a "strong sell" to a "hold," while analyst coverage is mixed (nine Buys, eight Holds) with an average rating of Moderate Buy and an average price target of $692.31.
• The company missed quarterly expectations—EPS $4.62 vs. $4.81 consensus and revenue $1.53B vs. $1.66B—although revenue rose 9.3% year-over-year.
• Shares opened near $631 with a market cap of $38.07B, a P/E of about 33.6, and roughly 95% of the stock held by institutional investors.

Martin Marietta Materials (NYSE:MLM - Get Free Report) was upgraded by stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report issued on Monday,Zacks.com reports.

Several other equities analysts also recently weighed in on MLM. B. Riley Financial upgraded shares of Martin Marietta Materials from a "neutral" rating to a "buy" rating and set a $700.00 target price for the company in a report on Thursday, April 2nd. Morgan Stanley dropped their target price on shares of Martin Marietta Materials from $702.00 to $664.00 and set an "overweight" rating for the company in a report on Monday, April 6th. Stephens lowered their price target on shares of Martin Marietta Materials from $740.00 to $735.00 and set an "overweight" rating for the company in a report on Friday, February 13th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $630.00 price target on shares of Martin Marietta Materials in a report on Thursday, February 26th. Finally, Barclays lowered their price target on shares of Martin Marietta Materials from $675.00 to $640.00 and set an "overweight" rating for the company in a report on Tuesday, March 31st. Nine equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, Martin Marietta Materials has an average rating of "Moderate Buy" and an average price target of $692.31.

Martin Marietta Materials Stock Performance

NYSE:MLM opened at $631.20 on Monday. The company has a current ratio of 3.57, a quick ratio of 2.36 and a debt-to-equity ratio of 0.53. The firm has a 50-day moving average price of $629.85 and a two-hundred day moving average price of $629.24. Martin Marietta Materials has a twelve month low of $478.86 and a twelve month high of $710.97. The company has a market capitalization of $38.07 billion, a P/E ratio of 33.57, a price-to-earnings-growth ratio of 2.49 and a beta of 1.19.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its earnings results on Wednesday, February 11th. The construction company reported $4.62 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($0.19). Martin Marietta Materials had a net margin of 17.38% and a return on equity of 10.86%. The business had revenue of $1.53 billion for the quarter, compared to analysts' expectations of $1.66 billion. During the same quarter last year, the business posted $4.79 earnings per share. The business's revenue was up 9.3% compared to the same quarter last year. As a group, research analysts expect that Martin Marietta Materials will post 19.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Martin Marietta Materials

A number of institutional investors have recently bought and sold shares of MLM. Optima Capital LLC purchased a new stake in Martin Marietta Materials in the fourth quarter valued at approximately $25,000. Quent Capital LLC purchased a new stake in Martin Marietta Materials in the third quarter valued at approximately $26,000. KERR FINANCIAL PLANNING Corp purchased a new stake in Martin Marietta Materials in the third quarter valued at approximately $27,000. Garton & Associates Financial Advisors LLC purchased a new stake in Martin Marietta Materials in the fourth quarter valued at approximately $31,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in Martin Marietta Materials in the third quarter valued at approximately $32,000. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

About Martin Marietta Materials

Martin Marietta Materials, Inc NYSE: MLM is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.

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