Boenning Scattergood Reiterates Buy Rating for Valmont Industries, Inc. (VMI)
Valmont Industries, Inc. (NYSE:VMI)‘s stock had its “buy” rating restated by equities researchers at Boenning Scattergood in a research report issued to clients and investors on Friday. They presently have a $185.00 target price on the industrial products company’s stock. Boenning Scattergood’s target price indicates a potential upside of 16.76% from the company’s previous close.
VMI has been the subject of a number of other reports. Zacks Investment Research upgraded Valmont Industries from a “hold” rating to a “buy” rating and set a $178.00 price target for the company in a research note on Tuesday, October 17th. Seaport Global Securities started coverage on Valmont Industries in a research note on Wednesday, September 6th. They set a “buy” rating and a $160.00 price target for the company. BidaskClub downgraded Valmont Industries from a “sell” rating to a “strong sell” rating in a research note on Friday, August 25th. Finally, Stifel Nicolaus restated a “buy” rating and set a $183.00 price target on shares of Valmont Industries in a research note on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $176.50.
Shares of Valmont Industries (NYSE:VMI) opened at $158.45 on Friday. The stock has a market capitalization of $3,582.24, a PE ratio of 23.10, a price-to-earnings-growth ratio of 2.27 and a beta of 1.03. Valmont Industries has a 52 week low of $135.75 and a 52 week high of $165.20. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.53 and a current ratio of 3.50.
Valmont Industries (NYSE:VMI) last released its quarterly earnings results on Wednesday, October 18th. The industrial products company reported $1.56 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.60 by ($0.04). The firm had revenue of $680.78 million for the quarter, compared to the consensus estimate of $652.65 million. Valmont Industries had a net margin of 7.02% and a return on equity of 14.56%. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.48 earnings per share. equities research analysts anticipate that Valmont Industries will post 6.98 earnings per share for the current year.
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Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Valmont Industries by 5.1% during the 2nd quarter. Vanguard Group Inc. now owns 1,869,447 shares of the industrial products company’s stock valued at $279,669,000 after acquiring an additional 90,745 shares during the period. Pictet Asset Management Ltd. grew its stake in shares of Valmont Industries by 53.0% during the 3rd quarter. Pictet Asset Management Ltd. now owns 623,558 shares of the industrial products company’s stock valued at $98,585,000 after acquiring an additional 215,893 shares during the period. Schroder Investment Management Group grew its stake in shares of Valmont Industries by 51.1% during the 3rd quarter. Schroder Investment Management Group now owns 600,058 shares of the industrial products company’s stock valued at $95,109,000 after acquiring an additional 202,817 shares during the period. State Street Corp grew its stake in shares of Valmont Industries by 1.6% during the 1st quarter. State Street Corp now owns 592,014 shares of the industrial products company’s stock valued at $92,059,000 after acquiring an additional 9,182 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Valmont Industries by 3.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 531,399 shares of the industrial products company’s stock valued at $79,496,000 after acquiring an additional 18,865 shares during the period. Institutional investors own 84.76% of the company’s stock.
Valmont Industries Company Profile
Valmont Industries, Inc is a producer of fabricated metal products, and steel, aluminum and composite pole, tower and other structures, and mechanized irrigation systems. The Company’s segments are Engineered Support Structures (ESS); Utility Support Structures; Energy and Mining; Coatings; Irrigation, and Other.
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