Vulcan Materials Rating Reiterated by Zacks (VMC)
Vulcan Materials (NYSE:VMC)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued to clients and investors on Thursday, AR Network reports. They currently have a $56.00 target price on the stock. Zacks‘ price target would suggest a potential upside of 4.32% from the stock’s previous close.
Zacks‘ analyst wrote, “Though Vulcan’s second-quarter adjusted earnings of $0.13 per share missed the Zacks Consensus Estimate, its revenues beat the same. Both earnings and revenues grew year over year due to growth in both volume and pricing. In fact, aggregates volumes grew 2% in the second quarter, rebounding from the decline seen in the past four quarters. Aggregates pricing also continues to gain traction. Management expects second-half aggregates volumes to be better than the first half with faster growth in 2014 as private construction demand continues to grow. However, in public construction market, though the number of large highway and industrial projects are expected to grow with increased funding certainty from the new highway bill, the timing of these projects is difficult for management to predict. We would wait for a substantial and consistent improvement in aggregates volumes before turning more positive on the stock.”
Shares of Vulcan Materials (NYSE:VMC) traded down 2.57% during mid-day trading on Thursday, hitting $52.30. The stock had a trading volume of 232,089 shares. Vulcan Materials has a 1-year low of $44.19 and a 1-year high of $59.48. The stock’s 50-day moving average is $50.23 and its 200-day moving average is $50.54. The company’s market cap is $6.797 billion.
Vulcan Materials (NYSE:VMC) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.09. The company had revenue of $738.73 million for the quarter, compared to the consensus estimate of $741.41 million. During the same quarter in the previous year, the company posted ($0.13) earnings per share. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. Analysts expect that Vulcan Materials will post $-0.13 EPS for the current fiscal year.
VMC has been the subject of a number of other recent research reports. Analysts at Cleveland Research upgraded shares of Vulcan Materials (NYSE:VMC) from a “neutral” rating to a “buy” rating in a research note to investors on Tuesday, August 27th. Analysts at RBC Capital cut their price target on shares of Vulcan Materials (NYSE:VMC) from $66.00 to $60.00 in a research note to investors on Friday, August 2nd. They now have an “outperform” rating on the stock. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $57.17.
Vulcan Materials Company is a producer of construction aggregates primarily crushed stone, sand, and gravel.
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