Vulcan Materials (NYSE:VMC) Price Target Cut to $301.00 by Analysts at Citigroup

Vulcan Materials (NYSE:VMC) had its price objective reduced by equities research analysts at Citigroup from $325.00 to $301.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Citigroup’s price objective indicates a potential upside of 17.01% from the company’s current price.

Other research analysts also recently issued research reports about the company. Barclays increased their price objective on Vulcan Materials from $250.00 to $285.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. UBS Group assumed coverage on shares of Vulcan Materials in a research report on Thursday, November 7th. They issued a “buy” rating and a $349.00 price target for the company. Stephens reaffirmed an “overweight” rating and set a $325.00 price objective on shares of Vulcan Materials in a report on Thursday. JPMorgan Chase & Co. upped their target price on Vulcan Materials from $245.00 to $290.00 and gave the company a “neutral” rating in a research report on Wednesday, November 27th. Finally, Truist Financial raised their price target on Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $288.83.

Vulcan Materials Price Performance

VMC stock traded up $0.12 during trading on Monday, hitting $257.25. The stock had a trading volume of 346,311 shares, compared to its average volume of 510,918. Vulcan Materials has a twelve month low of $219.73 and a twelve month high of $298.31. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.86 and a quick ratio of 2.02. The company’s 50-day moving average price is $275.81 and its two-hundred day moving average price is $258.03. The stock has a market capitalization of $33.97 billion, a P/E ratio of 40.58, a PEG ratio of 2.67 and a beta of 0.83.

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

Hedge Funds Weigh In On Vulcan Materials

Large investors have recently modified their holdings of the business. Ashton Thomas Securities LLC purchased a new position in Vulcan Materials in the third quarter worth $30,000. Concord Wealth Partners acquired a new position in shares of Vulcan Materials during the 3rd quarter worth $35,000. Washington Trust Advisors Inc. increased its holdings in shares of Vulcan Materials by 240.4% in the 3rd quarter. Washington Trust Advisors Inc. now owns 160 shares of the construction company’s stock valued at $40,000 after purchasing an additional 113 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Vulcan Materials in the third quarter valued at about $42,000. Finally, Asset Dedication LLC boosted its holdings in Vulcan Materials by 146.5% during the third quarter. Asset Dedication LLC now owns 175 shares of the construction company’s stock worth $44,000 after buying an additional 104 shares in the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

About Vulcan Materials

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.