Citigroup Issues Pessimistic Forecast for Vulcan Materials (NYSE:VMC) Stock Price

Vulcan Materials (NYSE:VMC) had its price target decreased by research analysts at Citigroup from $325.00 to $301.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Citigroup’s price target would suggest a potential upside of 17.01% from the stock’s previous close.

Several other analysts also recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on Vulcan Materials from $245.00 to $290.00 and gave the company a “neutral” rating in a research report on Wednesday, November 27th. StockNews.com raised shares of Vulcan Materials from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Truist Financial boosted their price objective on shares of Vulcan Materials from $300.00 to $315.00 and gave the company a “buy” rating in a research report on Friday, November 1st. UBS Group assumed coverage on shares of Vulcan Materials in a research report on Thursday, November 7th. They set a “buy” rating and a $349.00 target price on the stock. Finally, Stephens reiterated an “overweight” rating and issued a $325.00 price target on shares of Vulcan Materials in a report on Thursday. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Vulcan Materials presently has a consensus rating of “Moderate Buy” and an average target price of $288.83.

Vulcan Materials Price Performance

Shares of Vulcan Materials stock traded up $0.12 on Monday, hitting $257.25. The company’s stock had a trading volume of 346,311 shares, compared to its average volume of 510,918. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.42. The firm has a fifty day moving average price of $275.81 and a 200-day moving average price of $258.03. Vulcan Materials has a 52-week low of $219.73 and a 52-week high of $298.31. The company has a market capitalization of $33.97 billion, a P/E ratio of 40.58, a price-to-earnings-growth ratio of 2.67 and a beta of 0.83.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in VMC. Ashton Thomas Securities LLC acquired a new position in Vulcan Materials in the 3rd quarter worth $30,000. Concord Wealth Partners acquired a new position in shares of Vulcan Materials in the third quarter worth about $35,000. Washington Trust Advisors Inc. boosted its holdings in Vulcan Materials by 240.4% in the third 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 last quarter. Capital Performance Advisors LLP purchased a new stake in Vulcan Materials during the 3rd quarter worth approximately $42,000. Finally, Asset Dedication LLC boosted its stake in shares of Vulcan Materials by 146.5% during the 3rd quarter. Asset Dedication LLC now owns 175 shares of the construction company’s stock valued at $44,000 after buying an additional 104 shares during the last quarter. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

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.