Martin Marietta Materials (NYSE:MLM) Raised to "Buy" at HSBC

Martin Marietta Materials (NYSE:MLM - Get Free Report) was upgraded by equities research analysts at HSBC from a "hold" rating to a "buy" rating in a research note issued on Wednesday, Marketbeat Ratings reports. The brokerage presently has a $690.00 price target on the construction company's stock. HSBC's target price indicates a potential upside of 23.12% from the stock's previous close.

Several other analysts have also issued reports on MLM. Morgan Stanley increased their price target on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the stock an "overweight" rating in a research report on Monday, August 26th. JPMorgan Chase & Co. raised Martin Marietta Materials from a "neutral" rating to an "overweight" rating and raised their target price for the company from $515.00 to $640.00 in a report on Wednesday, November 27th. UBS Group began coverage on Martin Marietta Materials in a report on Thursday, November 7th. They set a "buy" rating and a $730.00 price target for the company. Jefferies Financial Group decreased their target price on Martin Marietta Materials from $650.00 to $635.00 and set a "buy" rating on the stock in a research report on Wednesday, October 9th. Finally, BNP Paribas raised shares of Martin Marietta Materials to a "strong-buy" rating in a report on Thursday, September 19th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Martin Marietta Materials has a consensus rating of "Moderate Buy" and an average target price of $655.77.

Martin Marietta Materials Stock Performance

Martin Marietta Materials stock traded down $3.02 during mid-day trading on Wednesday, hitting $560.43. 430,368 shares of the company's stock traded hands, compared to its average volume of 445,136. Martin Marietta Materials has a fifty-two week low of $474.92 and a fifty-two week high of $633.23. The stock has a market cap of $34.25 billion, a price-to-earnings ratio of 17.46, a P/E/G ratio of 3.94 and a beta of 0.89. The firm has a 50 day simple moving average of $577.91 and a two-hundred day simple moving average of $555.96. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing the consensus estimate of $6.41 by ($0.50). The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.94 billion. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The firm's quarterly revenue was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.94 EPS. On average, research analysts expect that Martin Marietta Materials will post 17.58 EPS for the current fiscal year.

Institutional Trading of Martin Marietta Materials

A number of institutional investors have recently bought and sold shares of MLM. Newbridge Financial Services Group Inc. grew its position in shares of Martin Marietta Materials by 411.1% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company's stock worth $25,000 after buying an additional 37 shares during the period. Asset Dedication LLC grew its holdings in Martin Marietta Materials by 1,300.0% in the third quarter. Asset Dedication LLC now owns 56 shares of the construction company's stock worth $30,000 after purchasing an additional 52 shares during the period. First Personal Financial Services bought a new stake in Martin Marietta Materials in the third quarter valued at $33,000. Rothschild Investment LLC bought a new position in shares of Martin Marietta Materials during the 2nd quarter worth about $43,000. Finally, Larson Financial Group LLC acquired a new stake in shares of Martin Marietta Materials in the 3rd quarter valued at about $49,000. Institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.