Raymond James Has Lowered Expectations for Vulcan Materials (NYSE:VMC) Stock Price

Vulcan Materials (NYSE:VMC) had its target price decreased by analysts at Raymond James from $298.00 to $295.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the construction company’s stock. Raymond James’ price objective points to a potential upside of 9.78% from the company’s current price.

VMC has been the subject of several other reports. Citigroup reduced their price objective on Vulcan Materials from $325.00 to $301.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Truist Financial increased their price target on shares of Vulcan Materials from $300.00 to $315.00 and gave the company a “buy” rating in a report on Friday, November 1st. StockNews.com raised shares of Vulcan Materials from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. lifted their target price on Vulcan Materials from $245.00 to $290.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 27th. Finally, UBS Group assumed coverage on Vulcan Materials in a research report on Thursday, November 7th. They issued a “buy” rating and a $349.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Vulcan Materials presently has an average rating of “Moderate Buy” and an average price target of $301.18.

Vulcan Materials Stock Performance

Shares of NYSE VMC traded up $0.53 during trading hours on Thursday, hitting $268.72. 258,122 shares of the stock were exchanged, compared to its average volume of 618,757. The firm has a market capitalization of $35.49 billion, a P/E ratio of 42.38, a P/E/G ratio of 1.97 and a beta of 0.83. Vulcan Materials has a one year low of $219.73 and a one year 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 is $273.95 and its 200 day moving average is $258.43.

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

Institutional Investors Weigh In On Vulcan Materials

Several large investors have recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in Vulcan Materials during the 3rd quarter valued at $30,000. Concord Wealth Partners acquired a new position in Vulcan Materials in the third quarter valued at approximately $35,000. Washington Trust Advisors Inc. lifted its stake 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 during the period. Capital Performance Advisors LLP bought a new position in Vulcan Materials during the third quarter worth about $42,000. Finally, Asset Dedication LLC grew 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 valued at $44,000 after purchasing an additional 104 shares during the period. Institutional investors own 90.39% of the company’s stock.

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.