Martin Marietta Materials (NYSE:MLM) Price Target Lowered to $630.00 at Raymond James

Martin Marietta Materials (NYSE:MLM) had its price target cut by investment analysts at Raymond James from $640.00 to $630.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the construction company’s stock. Raymond James’ target price points to a potential upside of 18.64% from the company’s current price.

Other research analysts have also issued reports about the company. BNP Paribas lowered Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. UBS Group started coverage on Martin Marietta Materials in a report on Thursday, November 7th. They issued a “buy” rating and a $730.00 price objective on the stock. Wolfe Research upgraded shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 target price for the company in a research note on Wednesday, January 8th. Loop Capital boosted their target price on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. upgraded shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and raised their price target for the company from $515.00 to $640.00 in a report on Wednesday, November 27th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Martin Marietta Materials presently has an average rating of “Moderate Buy” and an average price target of $648.71.

Martin Marietta Materials Stock Down 0.1 %

MLM traded down $0.29 on Thursday, reaching $531.00. 78,770 shares of the company traded hands, compared to its average volume of 348,514. The company has a market cap of $32.45 billion, a price-to-earnings ratio of 16.55, a PEG ratio of 2.97 and a beta of 0.91. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24. The stock’s 50 day moving average price is $559.19 and its 200-day moving average price is $550.92. Martin Marietta Materials has a 52-week low of $489.90 and a 52-week high of $633.23.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the business earned $6.94 EPS. The company’s quarterly revenue was down 5.3% on a year-over-year basis. On average, sell-side analysts expect that Martin Marietta Materials will post 17.6 EPS for the current fiscal year.

Institutional Trading of Martin Marietta Materials

Hedge funds have recently added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. lifted its holdings in shares of Martin Marietta Materials by 411.1% during the second quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock worth $25,000 after buying an additional 37 shares during the last quarter. Asset Dedication LLC increased its position in Martin Marietta Materials by 1,300.0% during the third quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock worth $30,000 after acquiring an additional 52 shares during the period. First Personal Financial Services acquired a new position in Martin Marietta Materials during the 3rd quarter valued at $33,000. Retirement Wealth Solutions LLC bought a new stake in Martin Marietta Materials in the 4th quarter valued at $41,000. Finally, Larson Financial Group LLC acquired a new stake in Martin Marietta Materials in the 3rd quarter worth $49,000. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.