JPMorgan Chase & Co. Issues Pessimistic Forecast for Vulcan Materials (NYSE:VMC) Stock Price

Vulcan Materials (NYSE:VMC) had its target price reduced by stock analysts at JPMorgan Chase & Co. from $320.00 to $300.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 23.12% from the company’s previous close.

Several other research firms have also commented on VMC. Wells Fargo & Company lowered their price objective on shares of Vulcan Materials from $254.00 to $249.00 and set an “underweight” rating for the company in a research report on Monday, October 5th. DA Davidson restated a “buy” rating and issued a $330.00 target price on shares of Vulcan Materials in a report on Monday, September 21st. Raymond James Financial restated an “outperform” rating on shares of Vulcan Materials in a research report on Wednesday, July 15th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Vulcan Materials in a report on Monday, September 21st. Finally, Wall Street Zen downgraded shares of Vulcan Materials from a “hold” rating to a “sell” rating in a report on Saturday, September 12th. Eight investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Vulcan Materials currently has an average rating of “Hold” and an average target price of $312.00.

Vulcan Materials Price Performance

NYSE VMC traded down $1.49 during trading on Tuesday, hitting $243.66. 550,456 shares of the stock traded hands, compared to its average volume of 1,160,870. The company has a quick ratio of 1.20, a current ratio of 1.76 and a debt-to-equity ratio of 0.47. Vulcan Materials has a 12-month low of $237.03 and a 12-month high of $331.09. The firm has a 50-day simple moving average of $260.80 and a 200-day simple moving average of $276.92. The company has a market capitalization of $31.57 billion, a P/E ratio of 28.79, a price-to-earnings-growth ratio of 2.47 and a beta of 1.05.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings data on Wednesday, July 29th. The construction company reported $2.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.46 by $0.13. Vulcan Materials had a return on equity of 13.05% and a net margin of 13.75%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same period in the prior year, the firm earned $2.42 EPS. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, analysts predict that Vulcan Materials will post 9.10 EPS for the current year.

Insiders Place Their Bets

In other Vulcan Materials news, Director J. Hill sold 14,000 shares of Vulcan Materials stock in a transaction on Friday, August 21st. The shares were sold at an average price of $276.17, for a total transaction of $3,866,380.00. Following the completion of the transaction, the director directly owned 58,209 shares of the company’s stock, valued at $16,075,579.53. The trade was a 19.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP David Clement sold 2,000 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $285.10, for a total transaction of $570,200.00. Following the transaction, the senior vice president owned 6,716 shares in the company, valued at $1,914,731.60. This trade represents a 22.95% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.65% of the stock is owned by company insiders.

Hedge Funds Weigh In On Vulcan Materials

Several hedge funds have recently added to or reduced their stakes in the company. Wedmont Private Capital boosted its stake in shares of Vulcan Materials by 7.8% during the third quarter. Wedmont Private Capital now owns 2,023 shares of the construction company’s stock valued at $498,000 after purchasing an additional 146 shares in the last quarter. Douglas Lane & Associates LLC increased its position in Vulcan Materials by 5.3% during the 3rd quarter. Douglas Lane & Associates LLC now owns 177,872 shares of the construction company’s stock valued at $43,513,000 after buying an additional 9,014 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Vulcan Materials by 11.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,011 shares of the construction company’s stock valued at $492,000 after purchasing an additional 205 shares during the last quarter. First Community Trust NA purchased a new position in shares of Vulcan Materials in the third quarter worth $73,000. Finally, Moody National Bank Trust Division raised its stake in Vulcan Materials by 26.2% in the 3rd quarter. Moody National Bank Trust Division now owns 2,381 shares of the construction company’s stock worth $582,000 after acquiring an additional 495 shares during the last quarter. 90.39% of the stock is currently owned by institutional investors.

About Vulcan Materials

Vulcan Materials Company (NYSE:VMC) is a major producer and supplier of construction materials in the United States. The company primarily produces and distributes construction aggregates, including crushed stone, sand and gravel, which are used in infrastructure, commercial, residential and industrial projects.

In addition to aggregates, Vulcan produces asphalt mix and ready-mixed concrete and provides related construction-material services. Its products support highways, bridges, airports, buildings and other essential infrastructure.