Morgan Stanley Increases Vulcan Materials (NYSE:VMC) Price Target to $303.00

Vulcan Materials (NYSE:VMC) had its price objective raised by investment analysts at Morgan Stanley from $273.00 to $303.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the construction company’s stock. Morgan Stanley’s price target points to a potential upside of 12.68% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Argus upgraded shares of Vulcan Materials to a “strong-buy” rating in a research report on Thursday, April 24th. Stephens set a $315.00 price target on Vulcan Materials and gave the company an “overweight” rating in a research note on Thursday, May 1st. Loop Capital cut their price target on Vulcan Materials from $325.00 to $320.00 and set a “buy” rating on the stock in a research note on Tuesday, April 1st. Raymond James cut their price target on 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, Wolfe Research raised Vulcan Materials from a “peer perform” rating to an “outperform” rating in a research note on Thursday, April 10th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Vulcan Materials presently has a consensus rating of “Moderate Buy” and a consensus target price of $297.45.

Vulcan Materials Price Performance

NYSE:VMC opened at $268.91 on Monday. The firm has a market cap of $35.52 billion, a PE ratio of 39.26, a price-to-earnings-growth ratio of 2.03 and a beta of 0.84. Vulcan Materials has a 12 month low of $215.08 and a 12 month high of $298.31. The company has a quick ratio of 2.02, a current ratio of 1.83 and a debt-to-equity ratio of 0.60. The company’s 50-day moving average price is $242.82 and its two-hundred day moving average price is $260.37.

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

Institutional Investors Weigh In On Vulcan Materials

Hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Vulcan Materials during the fourth quarter worth about $380,369,000. Principal Financial Group Inc. raised its position in Vulcan Materials by 13.9% in the 4th quarter. Principal Financial Group Inc. now owns 6,062,201 shares of the construction company’s stock valued at $1,559,380,000 after buying an additional 741,631 shares during the last quarter. Proficio Capital Partners LLC lifted its stake in Vulcan Materials by 28,529.4% in the 4th quarter. Proficio Capital Partners LLC now owns 523,631 shares of the construction company’s stock valued at $134,694,000 after acquiring an additional 521,802 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Vulcan Materials by 239.8% in the 4th quarter. BNP Paribas Financial Markets now owns 739,003 shares of the construction company’s stock valued at $190,094,000 after acquiring an additional 521,508 shares in the last quarter. Finally, Alkeon Capital Management LLC lifted its stake in Vulcan Materials by 54.1% in the 4th quarter. Alkeon Capital Management LLC now owns 1,282,001 shares of the construction company’s stock valued at $329,769,000 after acquiring an additional 450,000 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

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.