Analysts are forecast 25% annual growth for this construction aggregate company over the next five years.
Vulcan Materials (VMC)
From Shortex Market Letter
52 wk high: 141.20
52wk low: 82.52
Mkt cap: $14.15B
EPS: 4.82
P/E: 22.23
Vulcan Materials (VMC) is the nation’s largest producer of construction aggregates, asphalt mixes, and ready mix concrete, is the beneficiary of public construction initiatives such as highways, bridges, airports, schools, construction, paving, and residential/commercial buildings.
Additionally, it receives business from contractors including county, state, municipal government, railroads, and major utilities. VMC is a potential beneficiary of the upcoming restructured bill supported by the President and Congress.
Q3-18 earnings beat of $1.40/shr (earnings surprise of 2.94%+) on revenue beat of $1.24B vs. consensus of $1.04/shr on revenue of $1.09B respectively. Correction/retraction completed at (125-122) to (122-119) and briefly traded on Golden Death Cross at (120-117). Reversing its pattern to a Death Cross mode at (115-113) to (113-110) with repeated plunges starting 1st (107-103), 2nd (100-95), and 3rd (90-85). Reversal rocketed, gapping up (87-93) to (98-103) to (103-110). Challenging primary resistance (116-118) and secondary resistance (125-128) in the offing. Volatile.
RECOMMENDATION
Buying Range: 95-110
Near Term Objective: 149
Intermediate objective: 161
Stop loss: 91
Joseph Parnes, Shortex Market Letter, www.shortex.com, 800-877-6555, November 8, 2018