Barclays Initiates Coverage on Vulcan Materials (VMC)
Investment analysts at Barclays assumed coverage on shares of Vulcan Materials (NYSE:VMC) in a research report issued on Tuesday. The firm set an “overweight” rating and a $135.00 price target on the construction company’s stock. Barclays’ price objective would indicate a potential upside of 9.66% from the company’s current price.
A number of other analysts have also recently weighed in on VMC. Jefferies Group set a $114.00 price target on Vulcan Materials and gave the stock a “hold” rating in a research report on Tuesday, August 22nd. Royal Bank of Canada reaffirmed a “buy” rating and issued a $154.00 price target on shares of Vulcan Materials in a research report on Tuesday, October 10th. Zacks Investment Research raised Vulcan Materials from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Citigroup reaffirmed a “buy” rating and issued a $140.00 price target (down previously from $145.00) on shares of Vulcan Materials in a research report on Monday, October 9th. Finally, Bank of America reduced their price target on Vulcan Materials from $130.00 to $128.00 and set a “neutral” rating for the company in a research report on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $139.29.
Shares of Vulcan Materials (VMC) opened at $123.11 on Tuesday. Vulcan Materials has a 12-month low of $108.95 and a 12-month high of $136.82. The firm has a market capitalization of $16,260.41, a PE ratio of 41.39, a price-to-earnings-growth ratio of 2.40 and a beta of 0.88. The company has a debt-to-equity ratio of 0.60, a current ratio of 4.22 and a quick ratio of 3.34.
Vulcan Materials (NYSE:VMC) last announced its quarterly earnings results on Wednesday, November 1st. The construction company reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.36). Vulcan Materials had a return on equity of 8.71% and a net margin of 10.20%. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the firm earned $1.01 EPS. Vulcan Materials’s quarterly revenue was up 8.6% on a year-over-year basis. sell-side analysts expect that Vulcan Materials will post 3.04 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sun Life Financial INC lifted its position in shares of Vulcan Materials by 10,666.7% during the 2nd quarter. Sun Life Financial INC now owns 969 shares of the construction company’s stock worth $123,000 after purchasing an additional 960 shares during the last quarter. Korea Investment CORP lifted its position in shares of Vulcan Materials by 140.5% during the 2nd quarter. Korea Investment CORP now owns 1,229 shares of the construction company’s stock worth $156,000 after purchasing an additional 718 shares during the last quarter. Schroder Investment Management Group acquired a new position in shares of Vulcan Materials during the 2nd quarter worth about $187,000. Wetherby Asset Management Inc. acquired a new position in shares of Vulcan Materials during the 2nd quarter worth about $203,000. Finally, Jaffetilchin Investment Partners LLC acquired a new position in shares of Vulcan Materials during the 2nd quarter worth about $204,000. 89.10% of the stock is owned by institutional investors and hedge funds.
Vulcan Materials Company Profile
Vulcan Materials Company is a supplier of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company operates through four segments: Aggregates, Asphalt Mix, Concrete and Calcium. The Aggregates segment produces and sells aggregates (crushed stone, sand and gravel, sand, and other aggregates) and related products and services (transportation and other).
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