Martin Marietta Materials’s Neutral Rating Reaffirmed at DA Davidson (MLM)
Martin Marietta Materials (NYSE:MLM)‘s stock had its “neutral” rating restated by equities research analysts at DA Davidson in a research note issued to investors on Thursday. They currently have a $130.00 price target on the stock, up from their previous price target of $125.00. DA Davidson’s price target indicates a potential upside of 2.31% from the company’s current price.
The analysts wrote, “Martin Marietta announced the company has completed the acquisition of Texas Industries, Inc. as anticipated following recent regulatory and shareholder approval. Texas Industries shareholders receive 0.7 shares of Martin Marietta stock per share of TXI owned. The transaction, announced in January, combines Martin Marietta’s (primarily) domestic aggregates assets with TXI’s (primarily) cement assets, meaningfully changing the composition of MLM going forward.”
Separately, analysts at Jefferies Group initiated coverage on shares of Martin Marietta Materials in a research note on Monday, April 28th. They set a “hold” rating and a $128.00 price target on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $120.53.
Martin Marietta Materials (NYSE:MLM) opened at 127.06 on Thursday. Martin Marietta Materials has a 52-week low of $94.01 and a 52-week high of $136.36. The stock’s 50-day moving average is $126.5 and its 200-day moving average is $118.6. The company has a market cap of $5.890 billion and a price-to-earnings ratio of 48.14.
Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Tuesday, April 29th. The company reported ($0.35) earnings per share for the quarter, missing the analysts’ 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 last year, the company posted ($0.61) earnings per share. Martin Marietta Materials’s revenue was up 11.7% compared to the same quarter last year. Analysts expect that Martin Marietta Materials will post $3.80 EPS for the current fiscal year.
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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