Jefferies Financial Group Raises Vulcan Materials (NYSE:VMC) Price Target to $319.00

Vulcan Materials (NYSE:VMC) had its price target increased by stock analysts at Jefferies Financial Group from $298.00 to $319.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Jefferies Financial Group’s target price points to a potential upside of 23.53% from the stock’s current price.

A number of other equities research analysts also recently issued reports on VMC. The Goldman Sachs Group increased their price target on Vulcan Materials from $264.00 to $292.00 and gave the stock a “buy” rating in a research report on Tuesday, February 20th. Morgan Stanley initiated coverage on Vulcan Materials in a research note on Monday, January 8th. They issued an “equal weight” rating and a $208.00 price target for the company. Royal Bank of Canada raised their target price on shares of Vulcan Materials from $236.00 to $269.00 and gave the company a “sector perform” rating in a report on Tuesday, February 20th. Raymond James upped their price target on shares of Vulcan Materials from $225.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Finally, Citigroup lifted their price objective on shares of Vulcan Materials from $263.00 to $322.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Vulcan Materials has an average rating of “Moderate Buy” and a consensus target price of $273.00.

Vulcan Materials Stock Performance

VMC stock traded down $0.03 during trading hours on Thursday, hitting $258.23. 98,033 shares of the stock were exchanged, compared to its average volume of 785,187. The company has a 50-day simple moving average of $262.80 and a two-hundred day simple moving average of $232.44. The firm has a market capitalization of $34.16 billion, a P/E ratio of 37.08, a P/E/G ratio of 1.88 and a beta of 0.83. Vulcan Materials has a 12 month low of $166.43 and a 12 month high of $276.58. The company has a current ratio of 3.17, a quick ratio of 2.39 and a debt-to-equity ratio of 0.52.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings results on Friday, February 16th. The construction company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.06. The business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.84 billion. Vulcan Materials had a net margin of 11.99% and a return on equity of 12.80%. Vulcan Materials’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period last year, the firm earned $1.08 earnings per share. On average, analysts forecast that Vulcan Materials will post 8.43 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Randy L. Pigg sold 307 shares of Vulcan Materials stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $255.27, for a total transaction of $78,367.89. Following the sale, the vice president now directly owns 1,896 shares in the company, valued at approximately $483,991.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP Randy L. Pigg sold 307 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $255.27, for a total transaction of $78,367.89. Following the completion of the transaction, the vice president now directly owns 1,896 shares of the company’s stock, valued at approximately $483,991.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Denson N. Franklin III sold 3,200 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $269.48, for a total value of $862,336.00. Following the completion of the sale, the senior vice president now owns 5,395 shares in the company, valued at approximately $1,453,844.60. The disclosure for this sale can be found here. Insiders sold 13,017 shares of company stock valued at $3,344,741 over the last quarter. 0.62% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its stake in shares of Vulcan Materials by 47.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,503,484 shares of the construction company’s stock worth $909,794,000 after acquiring an additional 1,447,700 shares in the last quarter. Norges Bank purchased a new stake in Vulcan Materials in the 4th quarter valued at about $282,528,000. Point72 Asset Management L.P. lifted its position in shares of Vulcan Materials by 271.0% during the 4th quarter. Point72 Asset Management L.P. now owns 823,141 shares of the construction company’s stock worth $186,861,000 after buying an additional 601,268 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Vulcan Materials by 30,160.4% in the 3rd quarter. Wellington Management Group LLP now owns 541,359 shares of the construction company’s stock worth $109,365,000 after buying an additional 539,570 shares during the last quarter. Finally, Palestra Capital Management LLC increased its position in shares of Vulcan Materials by 68.9% during the third quarter. Palestra Capital Management LLC now owns 560,315 shares of the construction company’s stock valued at $113,195,000 after acquiring an additional 228,510 shares during the last quarter. 90.39% of the stock is owned by institutional investors.

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.