Barclays analyst Adam Seiden maintained a Buy rating on Martin Marietta Materials (MLM – Research Report) today and set a price target of $595.00. The company’s shares closed last Friday at $575.89.
Seiden covers the Industrials sector, focusing on stocks such as MasTec, Aecom Technology, and Caterpillar. According to TipRanks, Seiden has an average return of 11.8% and a 55.56% success rate on recommended stocks.
Martin Marietta Materials has an analyst consensus of Strong Buy, with a price target consensus of $632.86, representing a 9.89% upside. In a report released on April 15, Stifel Nicolaus also maintained a Buy rating on the stock with a $650.00 price target.
Based on Martin Marietta Materials’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.99 billion and a net profit of $416.7 million. In comparison, last year the company earned a revenue of $1.81 billion and had a net profit of $295.3 million
Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MLM in relation to earlier this year.
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Martin Marietta Materials (MLM) Company Description:
Martin Marietta Materials, Inc. engages in the provision of aggregates including crushed stone, sand, and gravel through its network of quarries and distribution yards. It operates through the following geographical segments: Mid-America Group, Southeast Group, and West Group. The Mid-America Group and Southeast Group segments provide aggregates products only. The West Group offers aggregates, as well as cement and downstream products including mixed concrete, asphalt, and paving services. The company was founded in November 1993 and is headquartered in Raleigh, NC.
Read More on MLM:
- Martin Marietta price target raised to $672 from $595 at Morgan Stanley
- Martin Marietta price target raised to $650 from $621 at Stifel
- Martin Marietta price target raised to $710 from $585 at Loop Capital
- Blue Water Industries completes sale of certain operations to Martin Marietta
- Martin Marietta Completes Acquisition of Aggregates Operations From Affiliates of Blue Water Industries LLC and Announces First-Quarter 2024 Earnings Conference Call
