Vulcan Materials (NYSE:VMC) Given New $245.00 Price Target at JPMorgan Chase & Co.

Vulcan Materials (NYSE:VMC) had its price objective decreased by analysts at JPMorgan Chase & Co. from $250.00 to $245.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 1.39% from the stock’s current price.

Several other research firms also recently commented on VMC. StockNews.com downgraded Vulcan Materials from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. Truist Financial dropped their price target on shares of Vulcan Materials from $320.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Royal Bank of Canada cut their target price on shares of Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Loop Capital decreased their price target on shares of Vulcan Materials from $305.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Finally, Stephens reduced their price objective on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $272.45.

Vulcan Materials Stock Performance

VMC traded up $3.45 during trading on Wednesday, hitting $241.64. The stock had a trading volume of 864,015 shares, compared to its average volume of 822,788. The firm has a market cap of $31.91 billion, a price-to-earnings ratio of 35.28, a P/E/G ratio of 2.24 and a beta of 0.82. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.48 and a quick ratio of 1.66. Vulcan Materials has a one year low of $190.51 and a one year high of $278.79. The company has a 50 day moving average price of $245.25 and a 200-day moving average price of $253.44.

Vulcan Materials (NYSE:VMC) last posted its earnings results on Tuesday, August 6th. The construction company reported $2.35 EPS for the quarter, missing the consensus estimate of $2.47 by ($0.12). The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.03 billion. Vulcan Materials had a return on equity of 12.19% and a net margin of 12.07%. The company’s revenue was down 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.29 earnings per share. As a group, research analysts predict that Vulcan Materials will post 7.73 EPS for the current year.

Institutional Investors Weigh In On Vulcan Materials

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Vulcan Materials by 5.0% in the first quarter. Vanguard Group Inc. now owns 16,005,692 shares of the construction company’s stock worth $4,368,273,000 after purchasing an additional 755,991 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Vulcan Materials by 1.9% during the first quarter. Principal Financial Group Inc. now owns 4,494,455 shares of the construction company’s stock valued at $1,226,627,000 after acquiring an additional 83,601 shares during the period. Capital World Investors purchased a new stake in shares of Vulcan Materials in the first quarter worth approximately $388,027,000. Dimensional Fund Advisors LP lifted its holdings in shares of Vulcan Materials by 3.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,332,649 shares of the construction company’s stock valued at $331,404,000 after buying an additional 43,294 shares during the last quarter. Finally, XN LP increased its holdings in shares of Vulcan Materials by 21.6% during the 2nd quarter. XN LP now owns 519,647 shares of the construction company’s stock valued at $129,226,000 after acquiring an additional 92,388 shares during the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

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.