Vulcan Materials (NYSE:VMC) Price Target Cut to $279.00 by Analysts at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has decreased its price target for Vulcan Materials from $286.00 to $279.00, maintaining a "sector perform" rating, which suggests a potential upside of 2.04% from the current stock price.
• Despite the downgrading, analysts have varying opinions, with some targeting prices as high as $318.00 and an overall average target price of $302.45 among several ratings, indicating a general consensus of a "Moderate Buy."
• The company's latest earnings report revealed an EPS of $2.45, which was lower than expected, contributing to increased scrutiny from investors and analysts regarding future performance.

Vulcan Materials (NYSE:VMC - Get Free Report) had its price objective cut by investment analysts at Royal Bank Of Canada from $286.00 to $279.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a "sector perform" rating on the construction company's stock. Royal Bank Of Canada's price objective would indicate a potential upside of 2.04% from the stock's current price.

A number of other equities research analysts have also issued reports on VMC. Stephens set a $315.00 target price on Vulcan Materials and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Argus raised Vulcan Materials to a "strong-buy" rating in a research note on Thursday, April 24th. Stifel Nicolaus upped their price objective on shares of Vulcan Materials from $287.00 to $309.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. UBS Group raised shares of Vulcan Materials from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $280.00 to $318.00 in a research report on Friday, May 16th. Finally, Raymond James Financial reduced their target price on Vulcan Materials from $300.00 to $295.00 and set an "outperform" rating for the company in a report on Tuesday, April 29th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $302.45.

Vulcan Materials Stock Performance

Shares of VMC traded down $1.24 during mid-day trading on Friday, reaching $273.43. 511,271 shares of the company's stock traded hands, compared to its average volume of 1,062,793. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.51 and a current ratio of 2.42. The business's 50-day moving average price is $265.23 and its 200-day moving average price is $257.53. The stock has a market capitalization of $36.12 billion, a P/E ratio of 38.80, a price-to-earnings-growth ratio of 2.41 and a beta of 0.82. Vulcan Materials has a 12 month low of $215.08 and a 12 month high of $298.31.

Vulcan Materials (NYSE:VMC - Get Free Report) last announced its earnings results on Thursday, July 31st. The construction company reported $2.45 EPS for the quarter, missing the consensus estimate of $2.65 by ($0.20). The firm had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.23 billion. Vulcan Materials had a return on equity of 12.91% and a net margin of 12.50%. Vulcan Materials's revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.35 EPS. Equities analysts predict that Vulcan Materials will post 8.69 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of VMC. Golden State Wealth Management LLC grew its position in shares of Vulcan Materials by 21.0% in the first quarter. Golden State Wealth Management LLC now owns 951 shares of the construction company's stock valued at $222,000 after purchasing an additional 165 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Vulcan Materials by 42.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,798 shares of the construction company's stock valued at $3,686,000 after buying an additional 4,678 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in Vulcan Materials by 24.3% in the 1st quarter. Exchange Traded Concepts LLC now owns 921 shares of the construction company's stock valued at $215,000 after buying an additional 180 shares during the last quarter. GAMMA Investing LLC increased its position in Vulcan Materials by 27.2% in the 1st quarter. GAMMA Investing LLC now owns 1,706 shares of the construction company's stock worth $398,000 after buying an additional 365 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of Vulcan Materials by 5.6% during the fourth quarter. Wellington Management Group LLP now owns 969 shares of the construction company's stock worth $249,000 after buying an additional 51 shares during the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

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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