Martin Marietta Materials (NYSE:MLM) Price Target Cut to $735.00 by Analysts at Stephens

Martin Marietta Materials (NYSE:MLM) had its target price decreased by equities researchers at Stephens from $740.00 to $735.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the construction company’s stock. Stephens’ price objective would indicate a potential upside of 8.45% from the company’s current price.

Several other brokerages have also recently weighed in on MLM. UBS Group increased their target price on Martin Marietta Materials from $705.00 to $723.00 and gave the company a “buy” rating in a report on Friday, November 7th. Barclays boosted their price objective on Martin Marietta Materials from $600.00 to $675.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Wall Street Zen cut shares of Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Martin Marietta Materials in a report on Thursday, January 22nd. Finally, Citigroup reissued a “buy” rating on shares of Martin Marietta Materials in a research report on Friday. Nine research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $685.19.

Martin Marietta Materials Trading Up 2.7%

Shares of Martin Marietta Materials stock traded up $17.68 during trading on Friday, reaching $677.75. The company’s stock had a trading volume of 73,681 shares, compared to its average volume of 456,533. The company has a quick ratio of 2.07, 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. The firm’s 50-day moving average is $645.50 and its two-hundred day moving average is $624.96. The company has a market cap of $40.87 billion, a price-to-earnings ratio of 36.03 and a beta of 1.16.

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

Institutional Trading of Martin Marietta Materials

Several large investors have recently added to or reduced their stakes in MLM. Optima Capital LLC bought a new position in Martin Marietta Materials in the 4th quarter worth $25,000. Quent Capital LLC purchased a new position in shares of Martin Marietta Materials during the third quarter valued at about $26,000. KERR FINANCIAL PLANNING Corp purchased a new position in shares of Martin Marietta Materials during the third quarter valued at about $27,000. Redmont Wealth Advisors LLC purchased a new stake in Martin Marietta Materials in the third quarter worth about $32,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in Martin Marietta Materials in the second quarter worth about $28,000. Institutional investors own 95.04% of the company’s stock.

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.