Valmont Industries (NYSE:VMI) Given New $600.00 Price Target at JPMorgan Chase & Co.

Valmont Industries (NYSE:VMI) had its price objective boosted by research analysts at JPMorgan Chase & Co. from $520.00 to $600.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 5.82% from the stock’s previous close.

Several other equities research analysts also recently commented on the company. Wall Street Zen raised Valmont Industries from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 31st. Oppenheimer set a $600.00 price target on Valmont Industries and gave the company an “outperform” rating in a report on Thursday, May 28th. Stifel Nicolaus raised their target price on Valmont Industries from $497.00 to $541.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Weiss Ratings downgraded Valmont Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, June 11th. Finally, DA Davidson upped their price target on shares of Valmont Industries from $415.00 to $450.00 and gave the company a “neutral” rating in a research report on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $547.75.

Valmont Industries Trading Up 1.9%

VMI traded up $10.47 during trading on Wednesday, hitting $566.98. 35,141 shares of the stock traded hands, compared to its average volume of 192,303. The firm has a market capitalization of $11.01 billion, a P/E ratio of 31.45, a price-to-earnings-growth ratio of 1.25 and a beta of 1.34. The firm has a 50-day moving average of $494.21 and a 200 day moving average of $452.10. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.38 and a quick ratio of 1.59. Valmont Industries has a 12-month low of $316.56 and a 12-month high of $573.70.

Valmont Industries (NYSE:VMI) last issued its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $5.51 earnings per share for the quarter, topping analysts’ consensus estimates of $4.72 by $0.79. Valmont Industries had a return on equity of 24.94% and a net margin of 8.91%.The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $994.85 million. During the same period last year, the company earned $4.32 EPS. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. Equities research analysts anticipate that Valmont Industries will post 22.83 EPS for the current year.

Insider Buying and Selling

In related news, Director Mogens C. Bay sold 17,500 shares of the business’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $492.34, for a total value of $8,615,950.00. Following the sale, the director directly owned 112,309 shares in the company, valued at approximately $55,294,213.06. The trade was a 13.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.42% of the stock is currently owned by insiders.

Institutional Trading of Valmont Industries

Several hedge funds have recently modified their holdings of the company. Millennium Management LLC grew its position in Valmont Industries by 225.1% in the first quarter. Millennium Management LLC now owns 67,630 shares of the industrial products company’s stock worth $19,300,000 after acquiring an additional 46,825 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Valmont Industries by 8.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 59,127 shares of the industrial products company’s stock worth $16,873,000 after purchasing an additional 4,676 shares during the period. Empowered Funds LLC bought a new position in shares of Valmont Industries during the 1st quarter valued at approximately $265,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Valmont Industries by 3.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 72,511 shares of the industrial products company’s stock valued at $20,692,000 after buying an additional 2,639 shares during the period. Finally, Geneos Wealth Management Inc. raised its holdings in Valmont Industries by 223.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 152 shares of the industrial products company’s stock valued at $43,000 after buying an additional 105 shares during the period. 87.84% of the stock is owned by hedge funds and other institutional investors.

About Valmont Industries

Valmont Industries, Inc (NYSE: VMI) is a diversified industrial manufacturer specializing in infrastructure and agricultural products. Headquartered in Omaha, Nebraska, the company engages in the design, production and distribution of engineered products that support water management, power transmission, lighting and traffic infrastructure. Valmont’s solutions range from center-pivot and lateral-move irrigation systems to utility poles, transmission towers, lighting structures and highway traffic signal support structures.

The company operates through several core business segments.