Valspar Corp. (VAL) Upgraded to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Valspar Corp. (NYSE:VAL) from a hold rating to a buy rating in a research report released on Thursday. The brokerage currently has $118.00 price target on the stock.
According to Zacks, “Earnings estimates for Valspar have been going up of late. The company is moving forward with its planned merger with Sherwin-Williams, which is expected to create significant synergies. Valspar has a strong pipeline of new products and should gain from its portfolio expansion and cost management initiatives. Also, new business wins coupled with management’s focus on growth, operating efficiencies and geographic expansion should benefit the company.”
VAL has been the topic of several other research reports. Barclays PLC set a $110.00 target price on shares of Valspar Corp. and gave the company a hold rating in a report on Monday, September 12th. Morgan Stanley reaffirmed a sell rating on shares of Valspar Corp. in a report on Thursday, June 16th. Finally, Deutsche Bank AG reaffirmed a hold rating on shares of Valspar Corp. in a report on Thursday, September 8th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of Hold and an average price target of $100.39.
Shares of Valspar Corp. (NYSE:VAL) traded down 0.06% during mid-day trading on Thursday, reaching $105.39. 277,521 shares of the company traded hands. Valspar Corp. has a 52 week low of $72.98 and a 52 week high of $108.97. The company has a market capitalization of $8.36 billion, a P/E ratio of 24.22 and a beta of 1.53. The stock’s 50-day moving average is $105.88 and its 200-day moving average is $106.76.
Valspar Corp. (NYSE:VAL) last issued its earnings results on Wednesday, September 7th. The company reported $1.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.45 by $0.12. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.18 billion. Valspar Corp. had a net margin of 8.31% and a return on equity of 41.74%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.33 earnings per share. On average, equities analysts predict that Valspar Corp. will post $4.93 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were issued a dividend of $0.33 per share. The ex-dividend date was Tuesday, August 30th. This represents a $1.32 annualized dividend and a dividend yield of 1.25%. Valspar Corp.’s dividend payout ratio is 30.41%.
Large investors have recently added to or reduced their stakes in the stock. Aperio Group LLC increased its stake in Valspar Corp. by 18.5% in the first quarter. Aperio Group LLC now owns 23,938 shares of the company’s stock valued at $2,562,000 after buying an additional 3,739 shares in the last quarter. Teachers Advisors Inc. boosted its position in shares of Valspar Corp. by 4.2% in the first quarter. Teachers Advisors Inc. now owns 85,458 shares of the company’s stock valued at $9,146,000 after buying an additional 3,449 shares during the last quarter. BlackRock Japan Co. Ltd boosted its position in shares of Valspar Corp. by 21.1% in the first quarter. BlackRock Japan Co. Ltd now owns 2,274 shares of the company’s stock valued at $243,000 after buying an additional 396 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Valspar Corp. by 191.9% in the first quarter. JPMorgan Chase & Co. now owns 608,624 shares of the company’s stock valued at $65,135,000 after buying an additional 400,130 shares during the last quarter. Finally, M&T Bank Corp bought a new position in shares of Valspar Corp. during the first quarter valued at about $280,000. Hedge funds and other institutional investors own 71.89% of the company’s stock.
Valspar Corp. Company Profile
The Valspar Corporation is engaged in developing, manufacturing and distributing a range of coatings, paints and related products. The Company operates through two segments: Coatings and Paints. The Coatings segment includes its industrial product lines and packaging product line. The Company offers decorative and protective coatings for metal, wood and plastic primarily for sale to original equipment manufacturing (OEM) customers in Africa, Asia, Australia, Europe, North America and South America.
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