Vulcan Materials (NYSE:VMC) Price Target Raised to $340.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has raised its price target for Vulcan Materials from $330.00 to $340.00, indicating a potential upside of 15.05% from the current price, while maintaining an "overweight" rating on the stock.
• Several other firms have also adjusted their ratings, with Morgan Stanley lowering their target to $285.00, and Barclays increasing theirs to $320.00, demonstrating a range of opinions among analysts.
• Vulcan Materials reported $2.45 EPS in its latest quarterly earnings, falling short of the consensus estimate of $2.65, despite a 4.4% year-over-year increase in revenue.

Vulcan Materials (NYSE:VMC - Get Free Report) had its price objective raised by investment analysts at JPMorgan Chase & Co. from $330.00 to $340.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the construction company's stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 15.05% from the stock's current price.

VMC has been the topic of a number of other research reports. Morgan Stanley dropped their price objective on Vulcan Materials from $303.00 to $285.00 and set an "equal weight" rating on the stock in a report on Monday, July 28th. Barclays upped their target price on Vulcan Materials from $305.00 to $320.00 and gave the stock an "overweight" rating in a research report on Monday. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Vulcan Materials in a research report on Wednesday, October 8th. Wells Fargo & Company raised Vulcan Materials to a "hold" rating in a research report on Wednesday, October 8th. Finally, Citigroup reaffirmed a "buy" rating and set a $321.00 target price (up previously from $305.00) on shares of Vulcan Materials in a research report on Monday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Vulcan Materials presently has a consensus rating of "Moderate Buy" and an average price target of $310.67.

Vulcan Materials Trading Up 0.1%

NYSE:VMC opened at $295.53 on Tuesday. The stock's 50 day moving average price is $296.33 and its 200 day moving average price is $274.06. Vulcan Materials has a 52 week low of $215.08 and a 52 week high of $311.74. The company has a market capitalization of $39.05 billion, a P/E ratio of 41.27, a P/E/G ratio of 2.41 and a beta of 0.92. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.13 and a current ratio of 1.67.

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

Insider Buying and Selling

In related news, SVP David P. Clement sold 698 shares of the firm's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $298.56, for a total value of $208,394.88. Following the completion of the transaction, the senior vice president directly owned 2,832 shares of the company's stock, valued at $845,521.92. This trade represents a 19.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.61% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank bought a new position in shares of Vulcan Materials during the second quarter valued at $308,908,000. JPMorgan Chase & Co. lifted its holdings in shares of Vulcan Materials by 12.3% during the second quarter. JPMorgan Chase & Co. now owns 7,824,987 shares of the construction company's stock valued at $2,040,914,000 after acquiring an additional 857,210 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Vulcan Materials by 598.5% during the second quarter. Franklin Resources Inc. now owns 719,924 shares of the construction company's stock valued at $187,771,000 after acquiring an additional 616,850 shares during the period. Vontobel Holding Ltd. lifted its holdings in shares of Vulcan Materials by 48.3% during the third quarter. Vontobel Holding Ltd. now owns 1,511,427 shares of the construction company's stock valued at $464,945,000 after acquiring an additional 491,957 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Vulcan Materials by 7.4% during the first quarter. Principal Financial Group Inc. now owns 6,507,892 shares of the construction company's stock valued at $1,518,291,000 after acquiring an additional 445,691 shares during the period. 90.39% of the stock is owned by institutional investors.

About Vulcan Materials

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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