Citigroup Forecasts Strong Price Appreciation for Vulcan Materials (NYSE:VMC) Stock

Vulcan Materials (NYSE:VMC) had its price objective increased by stock analysts at Citigroup from $345.00 to $365.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Citigroup’s price target suggests a potential upside of 19.63% from the stock’s previous close.

A number of other brokerages also recently issued reports on VMC. B. Riley Financial began coverage on Vulcan Materials in a research note on Thursday, January 15th. They set a “buy” rating and a $345.00 target price for the company. Wall Street Zen lowered Vulcan Materials from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Truist Financial raised their target price on Vulcan Materials from $320.00 to $360.00 and gave the company a “buy” rating in a report on Thursday, February 19th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Vulcan Materials in a research note on Tuesday, January 27th. Finally, Wells Fargo & Company cut their price target on shares of Vulcan Materials from $317.00 to $315.00 and set an “equal weight” rating for the company in a report on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $325.07.

Vulcan Materials Stock Performance

Vulcan Materials stock traded down $4.90 during trading hours on Monday, reaching $305.11. 499,635 shares of the stock were exchanged, compared to its average volume of 1,117,079. Vulcan Materials has a 52-week low of $215.08 and a 52-week high of $331.09. The stock has a market cap of $39.84 billion, a P/E ratio of 37.59, a P/E/G ratio of 2.28 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.97 and a current ratio of 2.69. The firm’s 50 day moving average is $304.42 and its 200 day moving average is $297.57.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings results on Tuesday, February 17th. The construction company reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.41). The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.95 billion. Vulcan Materials had a return on equity of 12.56% and a net margin of 13.56%.The company’s revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.17 earnings per share. Analysts predict that Vulcan Materials will post 8.69 EPS for the current fiscal year.

Insider Activity

In other news, SVP Denson N. Franklin III sold 665 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $295.00, for a total transaction of $196,175.00. Following the completion of the transaction, the senior vice president directly owned 8,284 shares of the company’s stock, valued at $2,443,780. This trade represents a 7.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Melissa H. Anderson sold 1,137 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $303.72, for a total value of $345,329.64. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 8,937 shares of company stock worth $2,687,784 over the last ninety days. 0.61% of the stock is currently owned by insiders.

Institutional Trading of Vulcan Materials

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VMC. MidFirst Bank purchased a new position in Vulcan Materials in the 4th quarter valued at about $2,177,000. Virtu Financial LLC purchased a new position in shares of Vulcan Materials during the fourth quarter valued at approximately $617,000. Compound Planning Inc. boosted its position in Vulcan Materials by 6.0% during the fourth quarter. Compound Planning Inc. now owns 1,248 shares of the construction company’s stock worth $356,000 after acquiring an additional 71 shares during the last quarter. Invesco Ltd. boosted its position in Vulcan Materials by 2.4% during the fourth quarter. Invesco Ltd. now owns 996,302 shares of the construction company’s stock worth $284,165,000 after acquiring an additional 23,637 shares during the last quarter. Finally, Birchwood Financial Partners Inc. purchased a new stake in Vulcan Materials in the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

About Vulcan Materials

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.