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

Vulcan Materials (NYSE:VMC) had its target price cut by analysts at Citigroup from $325.00 to $301.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Citigroup’s price target indicates a potential upside of 19.40% from the company’s current price.

A number of other equities analysts have also recently issued reports on the stock. UBS Group started 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 for the company. Stephens reaffirmed an “overweight” rating and issued a $325.00 target price on shares of Vulcan Materials in a research note on Thursday, January 2nd. StockNews.com raised Vulcan Materials from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Barclays upped their price objective on Vulcan Materials from $250.00 to $285.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Finally, Truist Financial lifted their price objective on Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $288.83.

Vulcan Materials Price Performance

Shares of NYSE:VMC opened at $252.09 on Monday. The firm has a market capitalization of $33.29 billion, a price-to-earnings ratio of 39.76, a price-to-earnings-growth ratio of 2.67 and a beta of 0.83. 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 business’s 50 day simple moving average is $275.63 and its 200-day simple moving average is $258.13. Vulcan Materials has a 12 month low of $219.73 and a 12 month high of $298.31.

Vulcan Materials (NYSE:VMC) last posted its earnings results on Wednesday, October 30th. The construction company reported $2.22 EPS 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 firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the previous year, the firm posted $2.29 earnings per share. The firm’s revenue for the quarter was down 8.3% compared to the same quarter last year. As a group, equities analysts forecast that Vulcan Materials will post 7.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vulcan Materials

A number of hedge funds have recently made changes to their positions in VMC. Ashton Thomas Securities LLC purchased a new position in shares of Vulcan Materials in the 3rd quarter worth $30,000. Concord Wealth Partners acquired a new stake in Vulcan Materials during the 3rd quarter worth approximately $35,000. Washington Trust Advisors Inc. raised 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 buying an additional 113 shares during the period. Capital Performance Advisors LLP acquired a new position in Vulcan Materials during the third quarter valued at approximately $42,000. Finally, Asset Dedication LLC grew its stake in Vulcan Materials by 146.5% during the third quarter. Asset Dedication LLC now owns 175 shares of the construction company’s stock worth $44,000 after buying an additional 104 shares during the period. Institutional investors and hedge funds 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.