Vulcan Materials (NYSE:VMC) Given New $321.00 Price Target at Citigroup

Key Points

• Citigroup has raised Vulcan Materials' price target from $305.00 to $321.00, indicating a potential upside of 14.01% from its current stock price and maintaining a "buy" rating.
• Vulcan Materials reported earnings of $2.45 per share for the last quarter, falling short of analysts' expectations and generating revenues of $2.10 billion.
• Despite mixed ratings from analysts, the majority have a positive outlook, with an average price target of $304.27 and a "Moderate Buy" rating for the company's stock.

Vulcan Materials (NYSE:VMC - Get Free Report) had its price objective boosted by equities researchers at Citigroup from $305.00 to $321.00 in a report issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the construction company's stock. Citigroup's price objective suggests a potential upside of 14.01% from the company's current price.

Other research analysts have also recently issued reports about the stock. Morgan Stanley decreased their target price on shares of Vulcan Materials from $303.00 to $285.00 and set an "equal weight" rating for the company in a report on Monday, July 28th. Stephens set a $315.00 price objective on shares of Vulcan Materials and gave the stock an "overweight" rating in a report on Thursday, May 1st. Royal Bank Of Canada cut their target price on Vulcan Materials from $286.00 to $279.00 and set a "sector perform" rating on the stock in a research note on Friday. Wolfe Research upgraded Vulcan Materials from a "peer perform" rating to an "outperform" rating in a research note on Thursday, April 10th. Finally, Argus raised Vulcan Materials to a "strong-buy" rating in a report on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Vulcan Materials has an average rating of "Moderate Buy" and an average price target of $304.27.

Vulcan Materials Trading Up 2.4%

Shares of NYSE:VMC traded up $6.61 during midday trading on Monday, hitting $281.55. 731,428 shares of the stock traded hands, compared to its average volume of 1,066,984. The company has a quick ratio of 1.13, a current ratio of 1.67 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $37.19 billion, a PE ratio of 39.35, a P/E/G ratio of 2.43 and a beta of 0.83. Vulcan Materials has a one year low of $215.08 and a one year high of $298.31. The business's 50 day moving average is $265.36 and its two-hundred day moving average is $257.47.

Vulcan Materials (NYSE:VMC - Get Free Report) last announced its earnings results on Thursday, July 31st. The construction company reported $2.45 earnings per share for the quarter, missing analysts' consensus estimates of $2.65 by ($0.20). Vulcan Materials had a net margin of 12.52% and a return on equity of 12.81%. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same period in the previous year, the firm posted $2.35 EPS. The company's revenue for the quarter was up 4.4% on a year-over-year basis. As a group, research analysts forecast that Vulcan Materials will post 8.69 earnings per share for the current year.

Insider Activity

In related news, SVP David P. Clement sold 1,500 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $270.00, for a total transaction of $405,000.00. Following the completion of the sale, the senior vice president directly owned 2,832 shares of the company's stock, valued at approximately $764,640. This trade represents a 34.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.62% of the stock is owned by corporate insiders.

Institutional Trading of Vulcan Materials

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Unified Investment Management raised its stake in shares of Vulcan Materials by 1.7% in the second quarter. Unified Investment Management now owns 2,259 shares of the construction company's stock valued at $589,000 after acquiring an additional 38 shares in the last quarter. Rosenberg Matthew Hamilton raised its position in Vulcan Materials by 6.2% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 648 shares of the construction company's stock valued at $169,000 after purchasing an additional 38 shares in the last quarter. Manchester Capital Management LLC boosted its stake in shares of Vulcan Materials by 26.9% in the 1st quarter. Manchester Capital Management LLC now owns 184 shares of the construction company's stock valued at $43,000 after buying an additional 39 shares during the period. Chemistry Wealth Management LLC grew its position in shares of Vulcan Materials by 3.0% during the second quarter. Chemistry Wealth Management LLC now owns 1,343 shares of the construction company's stock worth $350,000 after buying an additional 39 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its stake in shares of Vulcan Materials by 2.5% during the fourth quarter. Quadrant Capital Group LLC now owns 1,791 shares of the construction company's stock worth $461,000 after buying an additional 44 shares during the period. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Vulcan Materials Company Profile

Vulcan Materials Company, together with its subsidiaries, produces and supplies construction aggregates primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The company provides crushed stones, sand and gravel, sand, and other aggregates; and related products and services that are applied in construction and maintenance of highways, streets, and other public works, as well as in the construction of housing and commercial, industrial, and other nonresidential facilities.

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