Loop Capital Forecasts Strong Price Appreciation for Martin Marietta Materials (NYSE:MLM) Stock

Martin Marietta Materials (NYSE:MLM) had its price target increased by analysts at Loop Capital from $600.00 to $680.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Loop Capital’s price objective suggests a potential upside of 17.21% from the stock’s current price.

A number of other equities analysts also recently weighed in on the company. Stifel Nicolaus lowered their price target on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Jefferies Financial Group dropped their price target on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. BNP Paribas raised shares of Martin Marietta Materials to a “strong-buy” rating in a research report on Thursday, September 19th. Citigroup dropped their price objective on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Finally, Stephens reduced their target price on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $626.92.

Martin Marietta Materials Trading Down 2.1 %

Shares of Martin Marietta Materials stock opened at $580.14 on Thursday. The stock has a market cap of $35.46 billion, a P/E ratio of 18.08, a P/E/G ratio of 5.11 and a beta of 0.91. The company has a quick ratio of 0.94, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. Martin Marietta Materials has a 12-month low of $438.53 and a 12-month high of $626.67. The business’s 50 day moving average is $541.37 and its 200-day moving average is $556.24.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The business’s revenue was down 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.94 EPS. Equities research analysts predict that Martin Marietta Materials will post 18.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Martin Marietta Materials

A number of institutional investors have recently modified their holdings of MLM. Newbridge Financial Services Group Inc. increased its position in Martin Marietta Materials by 411.1% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock worth $25,000 after purchasing an additional 37 shares in the last quarter. Asset Dedication LLC raised its position in 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 purchasing an additional 52 shares during the last quarter. First Personal Financial Services acquired a new position in Martin Marietta Materials during the 3rd quarter worth about $33,000. Fortitude Family Office LLC lifted its position in shares of Martin Marietta Materials by 186.4% in the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock worth $34,000 after purchasing an additional 41 shares during the period. Finally, Pathway Financial Advisers LLC bought a new stake in Martin Marietta Materials during the first quarter valued at $41,000. Institutional investors and hedge funds 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.