Vulcan Materials (NYSE:VMC) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Vulcan Materials (NYSE:VMC) had its target price hoisted by research analysts at Morgan Stanley from $321.00 to $322.00 in a report issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the construction company’s stock. Morgan Stanley’s target price points to a potential upside of 19.98% from the company’s current price.

Several other analysts have also issued reports on the company. Wells Fargo & Company dropped their price objective on Vulcan Materials from $317.00 to $315.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 18th. DA Davidson decreased their target price on Vulcan Materials from $330.00 to $320.00 and set a “neutral” rating on the stock in a report on Wednesday, February 18th. B. Riley Financial started coverage on Vulcan Materials in a report on Thursday, January 15th. They set a “buy” rating and a $345.00 price target for the company. Truist Financial lifted their price objective on shares of Vulcan Materials from $320.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, February 19th. Finally, Citigroup upped their price objective on shares of Vulcan Materials from $345.00 to $365.00 and gave the company a “buy” rating in a report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $326.29.

Vulcan Materials Stock Down 2.4%

Shares of NYSE:VMC traded down $6.61 during midday trading on Monday, hitting $268.38. The stock had a trading volume of 112,397 shares, compared to its average volume of 1,133,578. The company has a quick ratio of 1.97, a current ratio of 2.69 and a debt-to-equity ratio of 0.51. The business’s 50-day simple moving average is $304.36 and its 200-day simple moving average is $297.64. Vulcan Materials has a 12 month low of $215.08 and a 12 month high of $331.09. The company has a market cap of $35.05 billion, a P/E ratio of 33.05, a PEG ratio of 2.02 and a beta of 1.05.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings data on Tuesday, February 17th. The construction company reported $1.70 earnings per share for the quarter, missing the consensus estimate of $2.11 by ($0.41). Vulcan Materials had a return on equity of 12.56% and a net margin of 13.56%.The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same quarter in the prior year, the firm earned $2.17 earnings per share. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, sell-side analysts forecast that Vulcan Materials will post 8.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, President Thompson S. Baker II sold 7,135 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $300.81, for a total transaction of $2,146,279.35. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Melissa H. Anderson sold 1,137 shares of Vulcan Materials stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $303.72, for a total transaction of $345,329.64. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 8,937 shares of company stock worth $2,687,784 in the last quarter. 0.62% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Vulcan Materials

Several large investors have recently made changes to their positions in the business. Westside Investment Management Inc. raised its position in Vulcan Materials by 100.0% in the third quarter. Westside Investment Management Inc. now owns 84 shares of the construction company’s stock worth $25,000 after acquiring an additional 42 shares during the period. NBT Bank N A NY purchased a new stake in shares of Vulcan Materials during the 4th quarter worth approximately $26,000. Greykasell Wealth Strategies Inc. bought a new stake in shares of Vulcan Materials in the 3rd quarter worth approximately $29,000. Birchwood Financial Partners Inc. bought a new stake in shares of Vulcan Materials in the 4th quarter worth approximately $29,000. Finally, Godsey & Gibb Inc. purchased a new position in Vulcan Materials in the fourth quarter valued at approximately $30,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

Vulcan Materials Company Profile

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.