Vulcan Materials (NYSE:VMC) Given New $303.00 Price Target at Morgan Stanley

Vulcan Materials (NYSE:VMC) had its target price increased by investment analysts at Morgan Stanley from $273.00 to $303.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the construction company’s stock. Morgan Stanley’s price objective would suggest a potential upside of 11.62% from the stock’s previous close.

Several other research firms also recently issued reports on VMC. Royal Bank of Canada upped their target price on Vulcan Materials from $269.00 to $286.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 19th. Wolfe Research upgraded shares of Vulcan Materials from a “peer perform” rating to an “outperform” rating in a report on Thursday, April 10th. UBS Group cut shares of Vulcan Materials from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $343.00 to $258.00 in a research note on Monday, April 7th. Raymond James cut their price objective on shares of Vulcan Materials from $300.00 to $295.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 29th. Finally, JPMorgan Chase & Co. raised shares of Vulcan Materials from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $290.00 to $285.00 in a report on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $297.45.

Vulcan Materials Stock Up 0.7%

Shares of VMC traded up $1.83 during midday trading on Monday, reaching $271.46. 246,211 shares of the stock were exchanged, compared to its average volume of 934,725. The company has a current ratio of 1.83, a quick ratio of 2.02 and a debt-to-equity ratio of 0.60. The company’s 50 day moving average is $241.51 and its two-hundred day moving average is $260.20. The company has a market capitalization of $35.86 billion, a P/E ratio of 39.65, a PEG ratio of 2.03 and a beta of 0.84. Vulcan Materials has a 52 week low of $215.08 and a 52 week high of $298.31.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings results on Wednesday, April 30th. The construction company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.80 by $0.20. Vulcan Materials had a net margin of 12.30% and a return on equity of 12.83%. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the previous year, the business posted $0.80 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Vulcan Materials will post 8.69 earnings per share for the current year.

Institutional Investors Weigh In On Vulcan Materials

Institutional investors have recently modified their holdings of the company. Townsquare Capital LLC increased its position in Vulcan Materials by 12.2% in the 1st quarter. Townsquare Capital LLC now owns 8,351 shares of the construction company’s stock valued at $1,948,000 after acquiring an additional 907 shares during the period. Zions Bancorporation National Association UT acquired a new stake in shares of Vulcan Materials in the 1st quarter worth $115,000. National Bank of Canada FI boosted its holdings in shares of Vulcan Materials by 310.6% in the first quarter. National Bank of Canada FI now owns 299,954 shares of the construction company’s stock valued at $69,979,000 after acquiring an additional 226,908 shares in the last quarter. Citigroup Inc. increased its stake in shares of Vulcan Materials by 64.0% during the first quarter. Citigroup Inc. now owns 144,372 shares of the construction company’s stock worth $33,682,000 after acquiring an additional 56,354 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Vulcan Materials by 12.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 236,353 shares of the construction company’s stock valued at $55,141,000 after purchasing an additional 25,852 shares during the period. 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.