DA Davidson Lowers Price Target on ulcan Materials (VMC), Trends Look to be Slowing

DA Davidson is maintaining its Neutral rating on shares of Vulcan Materials Company (NYSE: VMC) and is lowering its price target from $36 to $32.

The firm notes that while the company experienced strong highway contracting trends in the first half of 2011, but recent activity in key markets indicate that the company maybe losing the momentum that it built up.

An analyst at VMC comments, "We continue to view Vulcan as among the cheapest in the materials group at current levels in terms of estimated longer-term normalized earnings potential; although timing of a return to these levels is less certain particularly given current market and economic trends."

For more ratings news on Vulcan Materials Company click here and for the rating history of Vulcan Materials Company click here.

Shares of Vulcan Materials Company closed at $29.07 yesterday.

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