Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

Martin Marietta Materials / Equity Bottom-Up

<ul><li>Martin Marietta, a provider of aggregates and heavy building materials, presented a decent financial performance for the full year and fourth quarter of 2023.</li><li>Positive elements in the report include the company's record financial performance, reaching a milestone of $2.1 billion in adjusted EBITDA. Additionally, the company noted that it had a successful, safe year without any major incidents.</li><li>This was also underpinned by the strong performance of the company's aggregates business which drove revenues up by over 10% to $4.3 billion.</li></ul>

Martin Marietta, a provider of aggregates and heavy building materials, presented a decent financial performance for the full year and fourth quarter of 2023.Positive elements in the report include the company's record financial performance, reaching a milestone of $2.1 billion in adjusted EBITDA. Additionally, the company noted that it had a successful, safe year without any major incidents.This was also underpinned by the strong performance of the company's aggregates business which drove revenues up by over 10% to $4.3 billion.

Martin Marietta Materials: Expected Improvements In Housing Market Conditions Could Help Them Recover In 2024 & Beyond! - Major Drivers

<ul><li>Martin Marietta Materials delivered a decent quarter marked by an earnings beat and revenues on par with market expectations.</li><li>The financial performance included consolidated revenues of $2 billion, a 10.1% increase, and significant earnings per diluted share from continuing operations.</li><li>The Building Materials business achieved above the expectation quarterly revenue and gross profit, emphasizing the strength of the value-over-volume strategy.</li></ul>

Martin Marietta Materials delivered a decent quarter marked by an earnings beat and revenues on par with market expectations.The financial performance included consolidated revenues of $2 billion, a 10.1% increase, and significant earnings per diluted share from continuing operations.The Building Materials business achieved above the expectation quarterly revenue and gross profit, emphasizing the strength of the value-over-volume strategy.

Martin Marietta Materials: The Strategy Behind Their Value-Over-Volume Triumph! - Major Drivers

<ul><li>Martin Marietta Materials delivered an all-around beat in the most recent quarterly results.</li><li>Martin Marietta achieved robust results across many areas, which includes an increase in consolidated total revenues, consolidated gross profit, adjusted EBITDA, and aggregates gross profit.</li><li>We give Martin Marietta Materials a 'Hold' rating with a revised target price.</li></ul>

Martin Marietta Materials delivered an all-around beat in the most recent quarterly results.Martin Marietta achieved robust results across many areas, which includes an increase in consolidated total revenues, consolidated gross profit, adjusted EBITDA, and aggregates gross profit.We give Martin Marietta Materials a 'Hold' rating with a revised target price.

Martin Marietta Materials Inc.: 5 Critical Highlights From The Recent Financial Performance! - Financial Forecasts

Equity Capital Markets

Martin Marietta Materials / Equity Capital Markets

<ul><li>Martin Marietta had a solid start to the year and managed to surpass the revenue expectations as well as the earnings expectations of Wall Street.</li><li>Financially, Martin Marietta reported increased revenues, gross profit, earnings per share, and adjusted EBITDA.</li><li>Solid aggregate demand was observed across their footprint, with attractive pricing fundamentals.</li></ul>

Martin Marietta had a solid start to the year and managed to surpass the revenue expectations as well as the earnings expectations of Wall Street.Financially, Martin Marietta reported increased revenues, gross profit, earnings per share, and adjusted EBITDA.Solid aggregate demand was observed across their footprint, with attractive pricing fundamentals.

Martin Marietta Materials Inc.: Major Drivers

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>While we are not yet out of the woods, we continue to see evidence that suggests the lows may be "in" for this pullback.</li>
<li>Last week (4/23/24 Compass) we discussed the possibility that further downside was limited on the S&amp;P 500 due to a multitude of reasons</li>
<li>We view the latest pullback to 100-day MA on SPX as healthy/normal within the ongoing bull market. Pullbacks to the 100-day provided ideal entry points throughout the 2021 bull market</li>
</ul>


While we are not yet out of the woods, we continue to see evidence that suggests the lows may be "in" for this pullback.
Last week (4/23/24 Compass) we discussed the possibility that further downside was limited on the S&amp;P 500 due to a multitude of reasons
We view the latest pullback to 100-day MA on SPX as healthy/normal within the ongoing bull market. Pullbacks to the 100-day provided ideal entry points throughout the 2021 bull market


Are the Lows "In" For This Pullback?; Market Dynamics Remain Bullish; Key Supports Holding

United States

Martin Marietta Materials, Inc. produces aggregates for the construction industry, including highways, infrastructure, commercial, and residential. The Company also manufactures and markets magnesia-based products, including heat-resistant refractory products for the steel industry, chemical products for industrial and environmental uses, and dolomitic lime.

Martin Marietta Materials (MLM US)

Martin Marietta Materials: Expected Improvements In Housing Market Conditions Could Help Them Recover In 2024 & Beyond! - Major Drivers

Martin Marietta, a provider of aggregates and heavy building materials, presented a decent financial performance for the full year and fourth...

Baptista Research

Martin Marietta Materials: The Strategy Behind Their Value-Over-Volume Triumph! - Major Drivers

Martin Marietta Materials delivered a decent quarter marked by an earnings beat and revenues on par with market expectations. The financial...

Baptista Research

Martin Marietta Materials Inc.: 5 Critical Highlights From The Recent Financial Performance! - Financial Forecasts

Martin Marietta Materials delivered an all-around beat in the most recent quarterly results. Martin Marietta achieved robust results across many...

Baptista Research

Martin Marietta Materials Inc.: Major Drivers

Martin Marietta had a solid start to the year and managed to surpass the revenue expectations as well as the earnings expectations of Wall...

Baptista Research

Are the Lows "In" For This Pullback?; Market Dynamics Remain Bullish; Key Supports Holding

Are the Lows "In" for this Pullback?; Market Dynamics Remain Bullish (RS for defensives $XLP, $XLU, $XLV below October 2023 lows among many other...

Vermilion Research