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Vulcan Materials PT Raised to $65.00 at RBC Capital (VMC)

Nov, 06 2013

Investment analysts at RBC Capital hoisted their price target on shares of Vulcan Materials (NYSE:VMC) from $60.00 to $65.00 in a note issued to investors on Tuesday, Analyst Ratings reports. The firm currently has an “outperform” rating on the stock. RBC Capital’s target price would indicate a potential upside of 15.17% from the stock’s previous close.

Shares of Vulcan Materials (NYSE:VMC) traded down 2.32% during mid-day trading on Tuesday, hitting $56.44. The stock had a trading volume of 1,541,030 shares. Vulcan Materials has a 52 week low of $44.19 and a 52 week high of $60.14. The stock has a 50-day moving average of $52.83 and a 200-day moving average of $51.06. The company’s market cap is $7.335 billion.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.32 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.27 by $0.05. The company had revenue of $775.20 million for the quarter, compared to the consensus estimate of $774.13 million. During the same quarter in the prior year, the company posted $0.14 earnings per share. The company’s quarterly revenue was up 11.6% on a year-over-year basis. Analysts expect that Vulcan Materials will post $-0.12 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Tuesday, December 10th. Stockholders of record on Monday, November 25th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.07%. The ex-dividend date is Thursday, November 21st.

A number of other analysts have also recently weighed in on VMC. Analysts at Zacks reiterated a “neutral” rating on shares of Vulcan Materials in a research note to investors on Tuesday. They now have a $61.00 price target on the stock. Separately, analysts at DA Davidson downgraded shares of Vulcan Materials from a “neutral” rating to an “underperform” rating in a research note to investors on Monday. They now have a $50.00 price target on the stock. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Vulcan Materials has an average rating of “Hold” and an average target price of $58.17.

Vulcan Materials Company is a producer of construction aggregates primarily crushed stone, sand, and gravel.


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