Martin Marietta Materials (NYSE:MLM) Stock Price Expected to Rise, Citigroup Analyst Says

Martin Marietta Materials (NYSE:MLM) had its price target lifted by Citigroup from $780.00 to $804.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Citigroup’s target price suggests a potential upside of 22.38% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Loop Capital lowered shares of Martin Marietta Materials from a “buy” rating to a “hold” rating and set a $690.00 target price for the company. in a report on Wednesday, January 28th. Jefferies Financial Group reaffirmed a “buy” rating and set a $785.00 target price on shares of Martin Marietta Materials in a research note on Thursday, February 26th. Weiss Ratings lowered Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, February 23rd. UBS Group upped their price objective on Martin Marietta Materials from $705.00 to $723.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Finally, Zacks Research lowered Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a research note on Friday, February 13th. Eight research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $697.13.

Martin Marietta Materials Stock Performance

NYSE MLM opened at $656.97 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.57 and a quick ratio of 2.36. Martin Marietta Materials has a 1-year low of $441.95 and a 1-year high of $710.97. The business has a 50 day simple moving average of $657.99 and a two-hundred day simple moving average of $632.47. The stock has a market capitalization of $39.62 billion, a PE ratio of 34.95, a P/E/G ratio of 2.56 and a beta of 1.13.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Wednesday, February 11th. The construction company reported $4.62 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($0.19). The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.66 billion. Martin Marietta Materials had a return on equity of 10.86% and a net margin of 17.38%.The company’s revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.79 earnings per share. On average, research analysts predict that Martin Marietta Materials will post 19.53 EPS for the current fiscal year.

Institutional Trading of Martin Marietta Materials

Institutional investors and hedge funds have recently made changes to their positions in the company. Lido Advisors LLC grew its holdings in Martin Marietta Materials by 0.8% during the 4th quarter. Lido Advisors LLC now owns 1,920 shares of the construction company’s stock worth $1,209,000 after acquiring an additional 15 shares in the last quarter. Schear Investment Advisers LLC lifted its position in shares of Martin Marietta Materials by 0.6% in the 3rd quarter. Schear Investment Advisers LLC now owns 2,731 shares of the construction company’s stock worth $1,721,000 after purchasing an additional 16 shares during the period. Ashton Thomas Private Wealth LLC boosted its stake in shares of Martin Marietta Materials by 3.9% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 424 shares of the construction company’s stock valued at $264,000 after purchasing an additional 16 shares in the last quarter. Harbour Investments Inc. increased its holdings in Martin Marietta Materials by 31.4% during the fourth quarter. Harbour Investments Inc. now owns 67 shares of the construction company’s stock valued at $42,000 after buying an additional 16 shares during the period. Finally, Parkside Financial Bank & Trust increased its holdings in Martin Marietta Materials by 10.4% during the second quarter. Parkside Financial Bank & Trust now owns 181 shares of the construction company’s stock valued at $99,000 after buying an additional 17 shares during the period. 95.04% of the stock is currently owned by institutional investors.

About Martin Marietta Materials

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.