Royal Bank Of Canada Lowers Vulcan Materials (NYSE:VMC) Price Target to $278.00

Vulcan Materials (NYSE:VMC) had its price objective decreased by equities research analysts at Royal Bank Of Canada from $279.00 to $278.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “sector perform” rating on the construction company’s stock. Royal Bank Of Canada’s target price would suggest a potential downside of 4.17% from the stock’s previous close.

VMC has been the subject of several other research reports. Citigroup reiterated a “buy” rating and issued a $321.00 price objective (up previously from $305.00) on shares of Vulcan Materials in a research note on Monday, August 4th. Raymond James Financial boosted their target price on shares of Vulcan Materials from $295.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Wells Fargo & Company upgraded shares of Vulcan Materials to a “hold” rating in a research report on Wednesday, October 8th. Barclays boosted their target price on shares of Vulcan Materials from $305.00 to $320.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Vulcan Materials from $330.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, October 21st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $312.91.

Vulcan Materials Price Performance

Shares of Vulcan Materials stock opened at $290.09 on Friday. Vulcan Materials has a twelve month low of $215.08 and a twelve month high of $311.74. The company has a quick ratio of 1.13, a current ratio of 1.67 and a debt-to-equity ratio of 0.52. The company has a 50-day simple moving average of $296.59 and a two-hundred day simple moving average of $277.63. The stock has a market capitalization of $38.33 billion, a price-to-earnings ratio of 40.52, a price-to-earnings-growth ratio of 2.39 and a beta of 0.92.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings data on Thursday, October 30th. The construction company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.72 by $0.12. Vulcan Materials had a net margin of 12.52% and a return on equity of 12.81%. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter in the previous year, the company earned $2.22 EPS. The business’s revenue was up 14.4% on a year-over-year basis. Analysts forecast that Vulcan Materials will post 8.69 EPS for the current year.

Insider Activity

In related news, SVP David P. Clement sold 698 shares of Vulcan Materials stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $298.56, for a total transaction of $208,394.88. Following the sale, the senior vice president directly owned 2,832 shares of the company’s stock, valued at approximately $845,521.92. The trade was a 19.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.62% of the company’s stock.

Institutional Investors Weigh In On Vulcan Materials

Several hedge funds and other institutional investors have recently made changes to their positions in VMC. ORG Partners LLC grew its holdings in shares of Vulcan Materials by 86.3% during the 2nd quarter. ORG Partners LLC now owns 95 shares of the construction company’s stock valued at $25,000 after purchasing an additional 44 shares during the last quarter. Atlantic Union Bankshares Corp bought a new stake in shares of Vulcan Materials during the 2nd quarter valued at approximately $32,000. Concord Wealth Partners bought a new stake in Vulcan Materials during the 2nd quarter worth approximately $33,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Vulcan Materials during the 3rd quarter worth approximately $42,000. Finally, Manchester Capital Management LLC grew its holdings in Vulcan Materials by 26.9% during the 1st quarter. Manchester Capital Management LLC now owns 184 shares of the construction company’s stock worth $43,000 after acquiring an additional 39 shares during the last quarter. 90.39% of the stock is owned by institutional investors.

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.