In a report released yesterday, Courtney Yakavonis from Morgan Stanley maintained a Buy rating on Martin Marietta Materials (MLM), with a price target of $356.00. The company’s shares closed last Tuesday at $335.81, close to its 52-week high of $338.77.
According to TipRanks.com, Yakavonis is a 3-star analyst with an average return of 3.4% and a 42.0% success rate. Yakavonis covers the Industrial Goods sector, focusing on stocks such as Westinghouse Air Brake Technologies, Allison Transmission Holdings, and Timken Company.
Currently, the analyst consensus on Martin Marietta Materials is a Moderate Buy with an average price target of $323.60.
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Based on Martin Marietta Materials’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.18 billion and net profit of $183 million. In comparison, last year the company earned revenue of $1.1 billion and had a net profit of $131 million.
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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.
