Vulcan Materials (NYSE:VMC) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Key Points

• Wells Fargo raised its price target on Vulcan Materials from $305 to $310 and kept an "equal weight" rating, implying roughly a 4.3% upside from the prior close.
• Vulcan posted an earnings beat — $1.35 EPS vs. $1.10 expected and $1.76B revenue (up 7.4% year-over-year) — and analysts project about 9.15 EPS for the current year.
• The analyst consensus is a Moderate Buy (nine Buy, six Hold) with an average price target of $330.38, though individual targets range up to about $340.

Vulcan Materials (NYSE:VMC - Get Free Report) had its price target upped by stock analysts at Wells Fargo & Company from $305.00 to $310.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an "equal weight" rating on the construction company's stock. Wells Fargo & Company's price objective would suggest a potential upside of 4.28% from the stock's previous close.

VMC has been the topic of a number of other research reports. Barclays increased their price objective on shares of Vulcan Materials from $296.00 to $340.00 and gave the stock an "overweight" rating in a report on Thursday. Weiss Ratings reissued a "buy (b)" rating on shares of Vulcan Materials in a report on Tuesday, January 27th. DA Davidson decreased their price objective on shares of Vulcan Materials from $330.00 to $320.00 and set a "neutral" rating on the stock in a report on Wednesday, February 18th. Morgan Stanley decreased their price objective on shares of Vulcan Materials from $322.00 to $321.00 and set an "equal weight" rating on the stock in a report on Monday, April 6th. Finally, Citigroup reissued a "buy" rating on shares of Vulcan Materials in a report on Friday. Nine equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $330.38.

Vulcan Materials Price Performance

Shares of VMC traded down $4.46 during trading hours on Friday, hitting $297.28. The stock had a trading volume of 146,319 shares, compared to its average volume of 1,201,854. The company's fifty day moving average is $284.44 and its two-hundred day moving average is $293.02. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.59 and a quick ratio of 1.97. Vulcan Materials has a 52 week low of $252.35 and a 52 week high of $331.09. The stock has a market capitalization of $38.78 billion, a price-to-earnings ratio of 35.38, a P/E/G ratio of 2.23 and a beta of 1.10.

Vulcan Materials (NYSE:VMC - Get Free Report) last posted its earnings results on Wednesday, April 29th. The construction company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.25. Vulcan Materials had a net margin of 13.81% and a return on equity of 12.95%. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the prior year, the firm earned $1.00 EPS. The firm's quarterly revenue was up 7.4% compared to the same quarter last year. On average, analysts anticipate that Vulcan Materials will post 9.15 EPS for the current year.

Insider Activity

In related news, Director Melissa H. Anderson sold 1,137 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $303.72, for a total value of $345,329.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.65% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Vulcan Materials

Several large investors have recently bought and sold shares of VMC. Westside Investment Management Inc. lifted its stake in 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 acquiring an additional 42 shares in the last quarter. NBT Bank N A NY purchased a new stake in shares of Vulcan Materials during the 4th quarter valued at $26,000. Greykasell Wealth Strategies Inc. purchased a new stake in shares of Vulcan Materials during the 3rd quarter valued at $29,000. Birchwood Financial Partners Inc. purchased a new stake in shares of Vulcan Materials during the 4th quarter valued at $29,000. Finally, Godsey & Gibb Inc. purchased a new stake in shares of Vulcan Materials during the 4th quarter valued at $30,000. 90.39% of the stock is currently owned by institutional investors.

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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