Stifel Nicolaus Raises Valmont Industries (NYSE:VMI) Price Target to $678.00

Valmont Industries (NYSE:VMI) had its price objective lifted by equities research analysts at Stifel Nicolaus from $645.00 to $678.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Stifel Nicolaus’ target price indicates a potential upside of 27.66% from the company’s current price.

Other research analysts also recently issued reports about the company. Wall Street Zen raised Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Weiss Ratings raised shares of Valmont Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, June 26th. Oppenheimer set a $600.00 target price on shares of Valmont Industries and gave the stock an “outperform” rating in a report on Thursday, May 28th. JPMorgan Chase & Co. increased their target price on shares of Valmont Industries from $520.00 to $600.00 and gave the company an “overweight” rating in a research report on Wednesday, June 17th. Finally, Zacks Research raised shares of Valmont Industries from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Valmont Industries has an average rating of “Buy” and an average target price of $582.00.

Valmont Industries Price Performance

NYSE:VMI traded down $0.57 during trading hours on Monday, hitting $531.09. 35,725 shares of the stock were exchanged, compared to its average volume of 196,791. The firm’s fifty day moving average price is $539.57 and its 200 day moving average price is $475.52. Valmont Industries has a 52-week low of $331.90 and a 52-week high of $585.71. The company has a market cap of $10.31 billion, a P/E ratio of 29.61, a P/E/G ratio of 1.23 and a beta of 1.33. The company has a current ratio of 2.38, a quick ratio of 1.59 and a debt-to-equity ratio of 0.47.

Valmont Industries (NYSE:VMI) last released its earnings results on Tuesday, April 21st. The industrial products company reported $5.51 earnings per share for the quarter, beating the consensus estimate of $4.72 by $0.79. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $994.85 million. Valmont Industries had a return on equity of 24.94% and a net margin of 8.91%.The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the business posted $4.32 earnings per share. As a group, equities research analysts anticipate that Valmont Industries will post 22.83 EPS for the current fiscal year.

Insider Activity

In other news, Director Mogens C. Bay sold 17,500 shares of Valmont Industries stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $492.34, for a total transaction of $8,615,950.00. Following the sale, the director owned 112,309 shares of the company’s stock, valued at approximately $55,294,213.06. The trade was a 13.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.42% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in VMI. Invesco Ltd. lifted its stake in shares of Valmont Industries by 8.3% in the 3rd quarter. Invesco Ltd. now owns 422,997 shares of the industrial products company’s stock valued at $164,009,000 after purchasing an additional 32,382 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Valmont Industries by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 369,059 shares of the industrial products company’s stock worth $148,509,000 after purchasing an additional 12,480 shares during the last quarter. Sei Investments Co. raised its holdings in Valmont Industries by 3.1% in the 3rd quarter. Sei Investments Co. now owns 290,948 shares of the industrial products company’s stock valued at $112,809,000 after buying an additional 8,715 shares during the period. AQR Capital Management LLC raised its holdings in Valmont Industries by 118.8% in the 3rd quarter. AQR Capital Management LLC now owns 282,610 shares of the industrial products company’s stock valued at $108,884,000 after buying an additional 153,418 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its position in Valmont Industries by 3.7% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 252,605 shares of the industrial products company’s stock valued at $100,933,000 after buying an additional 9,130 shares during the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Valmont Industries Company Profile

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.