Martin Marietta Materials (NYSE:MLM) Price Target Lowered to $640.00 at Barclays

Martin Marietta Materials (NYSE:MLM) had its price target cut by Barclays from $675.00 to $640.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the construction company’s stock. Barclays‘s price target suggests a potential upside of 9.54% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. DA Davidson set a $680.00 price objective on Martin Marietta Materials in a research note on Thursday, February 12th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $630.00 price target on shares of Martin Marietta Materials in a report on Thursday, February 26th. Stephens cut their price target on shares of Martin Marietta Materials from $740.00 to $735.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. Wells Fargo & Company decreased their price objective on shares of Martin Marietta Materials from $631.00 to $612.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 12th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $785.00 target price on shares of Martin Marietta Materials in a report on Thursday, February 26th. Eight research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $694.69.

Martin Marietta Materials Price Performance

Shares of NYSE MLM traded up $10.70 during trading hours on Tuesday, reaching $584.27. 114,373 shares of the stock traded hands, compared to its average volume of 533,522. The company has a market capitalization of $35.24 billion, a P/E ratio of 31.09, a price-to-earnings-growth ratio of 2.24 and a beta of 1.13. The company’s 50-day simple moving average is $638.32 and its two-hundred day simple moving average is $629.44. The company has a quick ratio of 2.36, a current ratio of 3.57 and a debt-to-equity ratio of 0.53. Martin Marietta Materials has a 52-week low of $441.95 and a 52-week high of $710.97.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Wednesday, February 11th. The construction company reported $4.62 EPS for the quarter, missing the consensus estimate of $4.81 by ($0.19). The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Martin Marietta Materials had a return on equity of 10.86% and a net margin of 17.38%.The company’s revenue was up 9.3% compared to the same quarter last year. During the same period last year, the business posted $4.79 earnings per share. Equities research analysts forecast that Martin Marietta Materials will post 19.53 EPS for the current year.

Hedge Funds Weigh In On Martin Marietta Materials

A number of institutional investors have recently bought and sold shares of MLM. Optima Capital LLC purchased a new stake in Martin Marietta Materials during the 4th quarter valued at about $25,000. Quent Capital LLC purchased a new stake in shares of Martin Marietta Materials during the third quarter valued at approximately $26,000. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Martin Marietta Materials during the third quarter valued at approximately $27,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Martin Marietta Materials during the second quarter valued at approximately $28,000. Finally, Garton & Associates Financial Advisors LLC purchased a new position in Martin Marietta Materials in the 4th quarter worth approximately $31,000. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value?added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready?mixed concrete and related materials and services.