Vulcan Materials (NYSE:VMC) Price Target Cut to $301.00 by Analysts at Citigroup

Vulcan Materials (NYSE:VMC - Get Free Report) had its price target dropped by equities research analysts at Citigroup from $325.00 to $301.00 in a report issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the construction company's stock. Citigroup's price target points to a potential upside of 17.00% from the company's previous close.

A number of other analysts have also recently weighed in on VMC. UBS Group started coverage on shares of Vulcan Materials in a research note on Thursday, November 7th. They set a "buy" rating and a $349.00 target price on the stock. Stephens restated an "overweight" rating and set a $325.00 price objective on shares of Vulcan Materials in a research report on Thursday. StockNews.com upgraded Vulcan Materials from a "sell" rating to a "hold" rating in a research report on Friday, November 1st. Truist Financial boosted their price target on Vulcan Materials from $300.00 to $315.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. upped their price objective on Vulcan Materials from $245.00 to $290.00 and gave the company a "neutral" rating in a research note on Wednesday, November 27th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, Vulcan Materials has an average rating of "Moderate Buy" and an average target price of $288.83.

Vulcan Materials Price Performance

NYSE VMC traded up $0.14 on Monday, hitting $257.27. 640,051 shares of the company's stock were exchanged, compared to its average volume of 614,750. Vulcan Materials has a 52 week low of $219.73 and a 52 week high of $298.31. The stock has a 50-day moving average of $275.81 and a 200-day moving average of $258.03. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.42. The stock has a market cap of $33.98 billion, a price-to-earnings ratio of 40.58, a P/E/G ratio of 2.67 and a beta of 0.83.

Vulcan Materials (NYSE:VMC - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The construction company reported $2.22 earnings per share for the quarter, missing the consensus estimate of $2.34 by ($0.12). Vulcan Materials had a net margin of 11.43% and a return on equity of 11.88%. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same period last year, the business earned $2.29 earnings per share. The business's quarterly revenue was down 8.3% compared to the same quarter last year. Analysts expect that Vulcan Materials will post 7.16 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in VMC. Ashton Thomas Securities LLC acquired a new position in Vulcan Materials in the third quarter valued at approximately $30,000. Concord Wealth Partners acquired a new position in shares of Vulcan Materials during the 3rd quarter valued at $35,000. Washington Trust Advisors Inc. boosted its stake in Vulcan Materials by 240.4% during the third quarter. Washington Trust Advisors Inc. now owns 160 shares of the construction company's stock worth $40,000 after acquiring an additional 113 shares in the last quarter. Capital Performance Advisors LLP bought a new position in Vulcan Materials during the third quarter worth $42,000. Finally, Asset Dedication LLC grew its holdings in Vulcan Materials by 146.5% in the third quarter. Asset Dedication LLC now owns 175 shares of the construction company's stock worth $44,000 after purchasing an additional 104 shares during the period. 90.39% of the stock is owned by institutional investors and hedge funds.

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.