Vulcan Materials (NYSE:VMC) Price Target Raised to $290.00

Vulcan Materials (NYSE:VMC) had its target price lifted by JPMorgan Chase & Co. from $245.00 to $290.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 0.55% from the stock’s previous close.

Several other research analysts have also recently weighed in on the stock. UBS Group initiated coverage on shares of Vulcan Materials in a report on Thursday, November 7th. They set a “buy” rating and a $349.00 price objective for the company. Citigroup lowered their price target on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Barclays lifted their price objective on Vulcan Materials from $250.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Stephens lowered their target price on Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Finally, Truist Financial upped their price target on shares of Vulcan Materials from $300.00 to $315.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $283.92.

Vulcan Materials Trading Down 0.7 %

NYSE VMC opened at $288.40 on Wednesday. The stock’s fifty day moving average price is $263.07 and its 200-day moving average price is $254.79. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.42. The stock has a market cap of $38.09 billion, a P/E ratio of 45.49, a P/E/G ratio of 2.81 and a beta of 0.81. Vulcan Materials has a 12 month low of $209.60 and a 12 month high of $298.31.

Vulcan Materials (NYSE:VMC) last issued its earnings results on Wednesday, October 30th. The construction company reported $2.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.34 by ($0.12). The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.01 billion. Vulcan Materials had a return on equity of 11.88% and a net margin of 11.43%. The company’s quarterly revenue was down 8.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.29 EPS. As a group, equities analysts forecast that Vulcan Materials will post 7.16 EPS for the current fiscal year.

Institutional Trading of Vulcan Materials

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SouthState Corp grew its position in Vulcan Materials by 669.2% in the 2nd quarter. SouthState Corp now owns 100 shares of the construction company’s stock valued at $25,000 after acquiring an additional 87 shares during the last quarter. Kings Path Partners LLC bought a new position in shares of Vulcan Materials in the second quarter worth about $27,000. Ashton Thomas Securities LLC purchased a new position in Vulcan Materials in the 3rd quarter worth about $30,000. UMB Bank n.a. lifted its holdings in Vulcan Materials by 61.8% during the 2nd quarter. UMB Bank n.a. now owns 123 shares of the construction company’s stock valued at $31,000 after buying an additional 47 shares in the last quarter. Finally, Concord Wealth Partners bought a new stake in Vulcan Materials during the 3rd quarter valued at about $35,000. 90.39% of the stock is 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.