Vulcan Materials Company Stock Rating Lowered by Zacks (VMC)
Vulcan Materials Company (NYSE:VMC) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research note issued to investors on Monday. They currently have a $68.00 target price on the stock. Zacks‘s price target indicates a potential upside of 5.66% from the stock’s previous close.
Zacks’ analyst wrote, “After witnessing a sharp increase in aggregates demand in the second half of 2013, difficult weather conditions slowed down volume trends in the first quarter of 2014. Moreover, disruptions in production and shipping days led to increased costs which, coupled with unfavorable geographic mix, weighed on margins. Also, limited visibility on aggregates demand growth in public construction and uncertainty surrounding September expiration of the current highway bill keep us on the sidelines. We, thus, revert to a Neutral recommendation on Vulcan Materials. Nevertheless, the company enjoys strong fundamentals including its strong aggregates reserves positions, continued profit improvements, divestitures of non-strategic operations and significant debt reduction. The first-quarter results were also strong with adjusted loss of $0.28 per share being narrower than the Zacks Consensus Estimate loss of $0.34 and also the year-ago loss, on the back of 6.7% growth in the top line. Further, management expects volumes to pick up in the second quarter as construction season sets in.”
Shares of Vulcan Materials Company (NYSE:VMC) traded down 1.24% during mid-day trading on Monday, hitting $63.56. The stock had a trading volume of 275,320 shares. Vulcan Materials Company has a 52 week low of $46.21 and a 52 week high of $69.50. The stock has a 50-day moving average of $62.72 and a 200-day moving average of $63.11. The company has a market cap of $8.314 billion and a price-to-earnings ratio of 63.98.
Vulcan Materials Company (NYSE:VMC) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.74. The company had revenue of $548.50 million for the quarter, compared to the consensus estimate of $576.90 million. During the same quarter in the previous year, the company posted ($0.42) earnings per share. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. Analysts expect that Vulcan Materials Company will post $0.88 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on VMC. Analysts at RBC Capital cut their price target on shares of Vulcan Materials Company from $76.00 to $74.00 in a research note on Wednesday, May 7th. They now have an “outperform” rating on the stock. Analysts at Jefferies Group initiated coverage on shares of Vulcan Materials Company in a research note on Monday, April 28th. They set a “hold” rating and a $69.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $61.29.
Vulcan Materials Company, is a producer of construction aggregates primarily crushed stone, sand, and gravel.
To view Zacks’ full report, visit Zacks’ official website.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.