Valmont Industries (NYSE:VMI) Upgraded by Zacks Research to "Strong-Buy" Rating

Key Points

• Valmont Industries was upgraded by Zacks from a "hold" to a "Strong-Buy", with other firms (Stifel, JPMorgan) raising price targets and the consensus rating at "Moderate Buy" with an average target of $500.33.
• The company beat quarterly expectations, reporting $5.51 EPS versus $4.72 expected and $1.03 billion in revenue versus $994.85 million, with revenue up 6.2% year-over-year and strong profitability metrics (ROE 24.94%, net margin 8.91%).
• Shares opened at $498.33 (one‑year high $499.40), Valmont has a market cap of about $9.74 billion and a P/E of ~27.7, and roughly 87.84% of the stock is owned by institutional investors.

Valmont Industries (NYSE:VMI - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued on Thursday,Zacks.com reports.

A number of other research analysts have also commented on the company. Stifel Nicolaus upped their price objective on Valmont Industries from $497.00 to $541.00 and gave the company a "buy" rating in a report on Wednesday. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Valmont Industries in a report on Friday, March 27th. DA Davidson upped their price objective on Valmont Industries from $415.00 to $450.00 and gave the company a "neutral" rating in a report on Wednesday, February 18th. Wall Street Zen lowered Valmont Industries from a "buy" rating to a "hold" rating in a report on Saturday, February 28th. Finally, JPMorgan Chase & Co. upped their price objective on Valmont Industries from $480.00 to $510.00 and gave the company an "overweight" rating in a report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $500.33.

Valmont Industries Stock Performance

Shares of NYSE VMI opened at $498.33 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.38 and a quick ratio of 1.58. The stock's fifty day moving average price is $429.37 and its two-hundred day moving average price is $423.43. Valmont Industries has a one year low of $286.50 and a one year high of $499.40. The firm has a market cap of $9.74 billion, a price-to-earnings ratio of 27.67 and a beta of 1.24.

Valmont Industries (NYSE:VMI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $5.51 EPS for the quarter, beating 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 in the prior year, the firm posted $4.32 EPS. The company's revenue for the quarter was up 6.2% on a year-over-year basis. On average, equities analysts forecast that Valmont Industries will post 22.93 EPS for the current year.

Hedge Funds Weigh In On Valmont Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Community Bank N.A. acquired a new position in Valmont Industries in the 3rd quarter valued at $25,000. Elyxium Wealth LLC acquired a new position in Valmont Industries in the 4th quarter valued at $27,000. Caitong International Asset Management Co. Ltd acquired a new position in Valmont Industries in the 4th quarter valued at $27,000. First Horizon Corp acquired a new position in Valmont Industries in the 3rd quarter valued at $29,000. Finally, Leonteq Securities AG acquired a new position in Valmont Industries in the 4th quarter valued at $30,000. 87.84% of the stock is owned by institutional investors and hedge funds.

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.

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