Valmont Industries (NYSE:VMI) had its price target raised by investment analysts at DA Davidson from $215.00 to $235.00 in a research note issued to investors on Friday, The Fly reports. The brokerage presently has a "neutral" rating on the industrial products company's stock. DA Davidson's target price indicates a potential upside of 0.61% from the stock's current price.
A number of other analysts have also recently issued reports on VMI. Boenning Scattergood raised Valmont Industries from a "neutral" rating to an "outperform" rating and set a $350.00 target price for the company in a research note on Thursday. Zacks Investment Research cut Valmont Industries from a "hold" rating to a "sell" rating and set a $242.00 target price for the company. in a research note on Wednesday, April 21st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company's stock. Valmont Industries presently has an average rating of "Hold" and an average price target of $245.00.
Shares of VMI stock traded up $4.36 on Friday, reaching $233.57. The company had a trading volume of 406 shares, compared to its average volume of 90,963. The stock's 50-day simple moving average is $237.39. Valmont Industries has a 12 month low of $117.36 and a 12 month high of $265.09. The company has a current ratio of 2.37, a quick ratio of 1.61 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $4.96 billion, a PE ratio of 26.01 and a beta of 1.18.
Valmont Industries (NYSE:VMI) last posted its earnings results on Tuesday, July 20th. The industrial products company reported $3.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.50 by $0.56. Valmont Industries had a return on equity of 17.30% and a net margin of 6.01%. The business had revenue of $894.63 million during the quarter, compared to analysts' expectations of $815.05 million. During the same period in the prior year, the business earned $2.00 EPS. Valmont Industries's revenue for the quarter was up 29.9% compared to the same quarter last year. Analysts anticipate that Valmont Industries will post 9.97 EPS for the current year.
In other news, EVP Aaron M. Schapper sold 1,004 shares of the firm's stock in a transaction that occurred on Tuesday, June 1st. The shares were sold at an average price of $251.00, for a total transaction of $252,004.00. Following the completion of the transaction, the executive vice president now directly owns 7,480 shares of the company's stock, valued at approximately $1,877,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.40% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. British Airways Pensions Investment Management Ltd acquired a new stake in shares of Valmont Industries in the 1st quarter valued at approximately $9,865,000. Congress Asset Management Co. MA acquired a new stake in shares of Valmont Industries in the 1st quarter valued at approximately $9,096,000. Telemark Asset Management LLC acquired a new stake in shares of Valmont Industries in the 1st quarter valued at approximately $19,014,000. Northern Trust Corp boosted its holdings in shares of Valmont Industries by 5.7% in the 1st quarter. Northern Trust Corp now owns 175,169 shares of the industrial products company's stock valued at $41,633,000 after buying an additional 9,504 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Valmont Industries by 2.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 365,177 shares of the industrial products company's stock valued at $63,880,000 after buying an additional 8,564 shares during the last quarter. 86.88% of the stock is owned by institutional investors.
About Valmont Industries
Valmont Industries, Inc produces and sells fabricated metal products in the United States, Australia, Denmark, and internationally. The company operates through four segments: Engineered Support Structures, Utility Support Structures, Coatings, and Irrigation. The Engineered Support Structures segment manufactures and distributes engineered metal, steel, wood, aluminum, and composite poles, towers, and components for lighting, traffic, and wireless communication markets; engineered access systems; integrated structure solutions for smart cities; and highway safety products.
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