Martin Marietta Materials (NYSE:MLM) Given New $630.00 Price Target at Raymond James

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

MLM has been the topic of several other research reports. UBS Group started coverage on shares of Martin Marietta Materials in a report on Thursday, November 7th. They issued a “buy” rating and a $730.00 target price on the stock. Barclays upped their price objective on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Jefferies Financial Group cut their target price on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. JPMorgan Chase & Co. upgraded Martin Marietta Materials from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $515.00 to $640.00 in a report on Wednesday, November 27th. Finally, Loop Capital increased their price target on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and an average price target of $648.71.

Martin Marietta Materials Price Performance

Shares of MLM stock traded down $0.29 during mid-day trading on Thursday, reaching $531.00. The company’s stock had a trading volume of 78,770 shares, compared to its average volume of 348,514. The firm’s 50-day moving average is $559.19 and its two-hundred day moving average is $550.92. The company has a market cap of $32.45 billion, a P/E ratio of 16.55, a PEG ratio of 2.97 and a beta of 0.91. Martin Marietta Materials has a 1-year low of $489.90 and a 1-year high of $633.23. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing the consensus estimate of $6.41 by ($0.50). The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.94 earnings per share. On average, research analysts predict that Martin Marietta Materials will post 17.6 earnings per share for the current year.

Institutional Trading of Martin Marietta Materials

Institutional investors have recently modified their holdings of the company. Newbridge Financial Services Group Inc. grew 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 in the last quarter. Asset Dedication LLC grew its stake in shares of Martin Marietta Materials by 1,300.0% during the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock worth $30,000 after acquiring an additional 52 shares in the last quarter. First Personal Financial Services bought a new position in shares of Martin Marietta Materials during the 3rd quarter worth approximately $33,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Martin Marietta Materials in the fourth quarter valued at approximately $41,000. Finally, Larson Financial Group LLC bought a new stake in shares of Martin Marietta Materials in the third quarter worth $49,000. 95.04% of the stock is currently owned by institutional investors.

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.