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Analysts at DA Davidson raised their target price on shares of Martin Marietta Materials (NYSE:MLM) from $120.00 to $125.00 in a research report issued to clients and investors on Wednesday, reports. DA Davidson’s target price suggests a potential upside of 0.54% from the company’s current price.

Shares of Martin Marietta Materials (NYSE:MLM) traded down 0.03% during mid-day trading on Wednesday, hitting $124.33. The stock had a trading volume of 791,816 shares. Martin Marietta Materials has a 1-year low of $94.01 and a 1-year high of $130.00. The stock’s 50-day moving average is $125. and its 200-day moving average is $109.8. The company has a market cap of $5.739 billion and a price-to-earnings ratio of 47.58. Martin Marietta Materials also was the target of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 9,139,874 shares, an increase of 35.5% from the March 31st total of 6,743,994 shares. Based on an average trading volume of 1,187,672 shares, the short-interest ratio is presently 7.7 days. Currently, 19.9% of the shares of the company are sold short.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Tuesday, April 29th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by $0.01. The company had revenue of $379.70 million for the quarter, compared to the consensus estimate of $409.45 million. During the same quarter in the previous year, the company posted ($0.61) earnings per share. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, analysts predict that Martin Marietta Materials will post $3.79 earnings per share for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group initiated coverage on shares of Martin Marietta Materials in a research note on Monday. They set a “hold” rating and a $128.00 price target on the stock. Analysts at CJS Securities upgraded shares of Martin Marietta Materials to an “outperform” rating in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $119.68.

Martin Marietta Materials, Inc is the producer of aggregates products (NYSE:MLM) for the construction industry, including infrastructure, nonresidential, residential, railroad ballast, agricultural, and chemical grade stone used in environmental applications.

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