Martin Marietta Materials (NYSE:MLM) Upgraded to “Buy” at B. Riley Financial

Martin Marietta Materials (NYSE:MLM) was upgraded by equities researchers at B. Riley Financial from a “neutral” rating to a “buy” rating in a research report issued on Thursday, Marketbeat.com reports. The brokerage currently has a $700.00 price objective on the construction company’s stock. B. Riley Financial’s target price suggests a potential upside of 16.77% from the company’s previous close.

MLM has been the topic of several other research reports. Barclays reduced their price target on shares of Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating on the stock in a research report on Tuesday. DA Davidson set a $680.00 price target on Martin Marietta Materials in a research note on Thursday, February 12th. Truist Financial set a $710.00 price target on Martin Marietta Materials in a report on Thursday, February 12th. Morgan Stanley reduced their price objective on Martin Marietta Materials from $706.00 to $702.00 and set an “overweight” rating on the stock in a research note on Monday, March 9th. Finally, Citigroup boosted their target price on Martin Marietta Materials from $780.00 to $804.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Nine equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Martin Marietta Materials presently has a consensus rating of “Hold” and an average price target of $694.69.

Martin Marietta Materials Stock Up 1.8%

MLM stock opened at $599.48 on Thursday. Martin Marietta Materials has a 52 week low of $441.95 and a 52 week high of $710.97. The business has a 50-day simple moving average of $636.64 and a 200 day simple moving average of $629.04. The company has a quick ratio of 2.36, a current ratio of 3.57 and a debt-to-equity ratio of 0.53. The company has a market cap of $36.16 billion, a PE ratio of 31.89, a price-to-earnings-growth ratio of 2.31 and a beta of 1.13.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Wednesday, February 11th. The construction company reported $4.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.81 by ($0.19). Martin Marietta Materials had a return on equity of 10.86% and a net margin of 17.38%.The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the previous year, the company earned $4.79 earnings per share. The company’s quarterly revenue was up 9.3% on a year-over-year basis. Sell-side analysts anticipate that Martin Marietta Materials will post 19.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Martin Marietta Materials

Hedge funds have recently modified their holdings of the business. Optima Capital LLC acquired a new position in Martin Marietta Materials during the 4th quarter worth about $25,000. Quent Capital LLC bought a new stake in shares of Martin Marietta Materials in the 3rd quarter valued at about $26,000. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Martin Marietta Materials in the third quarter valued at about $27,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of Martin Marietta Materials during the second quarter worth about $28,000. Finally, Garton & Associates Financial Advisors LLC bought a new position in shares of Martin Marietta Materials during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.