Valmont Industries (NYSE:VMI) Stock Rating Raised to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Valmont Industries to “Buy” from “Hold.” The company’s overall analyst consensus is “Moderate Buy,” with four Buy ratings, two Hold ratings, and a consensus price target of $587.
• Valmont’s latest quarterly results exceeded expectations, with adjusted earnings of $6.24 per share versus the $5.70 consensus estimate. Revenue rose 5.5% year over year to $1.10 billion, though it fell slightly short of forecasts.
• Shares opened at $435.44, down 0.1%, and remain below their 50-day and 200-day moving averages. Institutional investors own approximately 87.84% of the company, while an insider recently sold 800 shares.

Valmont Industries (NYSE:VMI - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday, Wall Street Zen reports.

Several other research firms have also issued reports on VMI. Weiss Ratings raised shares of Valmont Industries from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, October 8th. Zacks Research lowered Valmont Industries from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 20th. Stifel Nicolaus upped their price target on Valmont Industries from $645.00 to $678.00 and gave the stock a "buy" rating in a report on Monday, July 20th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Valmont Industries from $600.00 to $620.00 and gave the company an "overweight" rating in a research note on Wednesday, July 22nd. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Valmont Industries has an average rating of "Moderate Buy" and a consensus price target of $587.00.

Valmont Industries Trading Down 0.1%

Shares of NYSE:VMI opened at $435.44 on Friday. Valmont Industries has a 12-month low of $378.02 and a 12-month high of $585.71. The company has a market capitalization of $8.41 billion, a PE ratio of 16.16, a PEG ratio of 0.99 and a beta of 1.34. The business has a 50 day moving average of $471.02 and a two-hundred day moving average of $496.00. The company has a current ratio of 2.41, a quick ratio of 1.55 and a debt-to-equity ratio of 0.43.

Valmont Industries (NYSE:VMI - Get Free Report) last issued its quarterly earnings data on Tuesday, October 20th. The industrial products company reported $6.24 EPS for the quarter, topping analysts' consensus estimates of $5.70 by $0.54. The business had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.12 billion. Valmont Industries had a net margin of 12.05% and a return on equity of 26.25%. The business's revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the company earned $4.98 EPS. As a group, analysts forecast that Valmont Industries will post 23.27 EPS for the current year.

Insider Activity

In related news, Director Theodor Freye sold 800 shares of the business's stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $495.00, for a total transaction of $396,000.00. Following the completion of the sale, the director directly owned 2,805 shares in the company, valued at approximately $1,388,475. The trade was a 22.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.42% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Valmont Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in VMI. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Valmont Industries in the fourth quarter valued at about $27,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Valmont Industries during the 2nd quarter valued at about $28,000. V Square Quantitative Management LLC acquired a new stake in Valmont Industries in the 1st quarter valued at about $37,000. Elevation Wealth Partners LLC raised its holdings in Valmont Industries by 179.2% in the 2nd quarter. Elevation Wealth Partners LLC now owns 67 shares of the industrial products company's stock valued at $39,000 after acquiring an additional 43 shares during the last quarter. Finally, Root Financial Partners LLC acquired a new stake in Valmont Industries in the 3rd quarter valued at about $51,000. Institutional investors and hedge funds own 87.84% of the company's stock.

Valmont Industries Company Profile

Valmont Industries, Inc is a global manufacturer of engineered products and services serving the infrastructure and agricultural markets. Founded in 1946 and headquartered in Omaha, Nebraska, the company operates through businesses focused on infrastructure, coatings, and water management.

Its infrastructure products include utility and transmission structures, lighting and traffic poles, highway and transportation structures, and related support systems. Valmont also provides hot-dip galvanizing and other protective coatings designed to extend the service life of steel products used in industrial, infrastructure, and commercial applications.

In agriculture, the company manufactures mechanized irrigation equipment, including center-pivot and linear irrigation systems, as well as agricultural products and services intended to support water conservation and crop production.

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