Valmont Industries, Inc. (NYSE:VMI) Stock Has Average Target Price of $587.00 According to Analysts

Valmont Industries, Inc. (NYSE:VMI) has been given a consensus recommendation of “Moderate Buy” by the six analysts that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $587.00.

VMI has been the subject of several recent research reports. Stifel Nicolaus increased their price target on Valmont Industries from $645.00 to $678.00 and gave the company a “buy” rating in a report on Monday, July 20th. Weiss Ratings cut Valmont Industries from a “buy (b)” rating to a “hold (c)” rating in a report on Wednesday, October 28th. JPMorgan Chase & Co. raised their target price on Valmont Industries from $600.00 to $620.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 22nd. Wall Street Zen upgraded Valmont Industries from a “hold” rating to a “buy” rating in a report on Monday. Finally, Zacks Research cut shares of Valmont Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 20th.

Institutional Trading of Valmont Industries

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Valmont Industries during the second quarter worth $1,141,369,000. Bank of America Corp DE purchased a new stake in Valmont Industries in the second quarter valued at $175,408,000. Pictet Asset Management Holding SA raised its position in Valmont Industries by 43.6% in the third quarter. Pictet Asset Management Holding SA now owns 343,510 shares of the industrial products company’s stock valued at $159,044,000 after purchasing an additional 104,259 shares during the period. Ninety One UK Ltd raised its position in Valmont Industries by 4.6% in the third quarter. Ninety One UK Ltd now owns 198,650 shares of the industrial products company’s stock valued at $91,971,000 after purchasing an additional 8,651 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of Valmont Industries in the 2nd quarter valued at $83,723,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Valmont Industries Price Performance

Shares of NYSE VMI opened at $425.06 on Friday. The firm has a 50-day simple moving average of $456.04 and a 200-day simple moving average of $476.46. The stock has a market capitalization of $8.14 billion, a price-to-earnings ratio of 15.78, a price-to-earnings-growth ratio of 0.96 and a beta of 1.39. The company has a quick ratio of 1.56, a current ratio of 2.41 and a debt-to-equity ratio of 0.43. Valmont Industries has a 52 week low of $378.02 and a 52 week high of $585.71.

Valmont Industries (NYSE:VMI) last posted its quarterly earnings results on Tuesday, October 20th. The industrial products company reported $6.24 earnings per share for the quarter, topping analysts’ consensus estimates of $5.70 by $0.54. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.12 billion. Valmont Industries had a net margin of 12.05% and a return on equity of 26.25%. Valmont Industries’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the business posted $4.98 earnings per share. On average, equities analysts predict that Valmont Industries will post 23.33 earnings per share for the current fiscal year.

Valmont Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 24th will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Thursday, December 24th. This represents a $3.08 dividend on an annualized basis and a yield of 0.7%. Valmont Industries’s payout ratio is 11.43%.

About Valmont Industries

Valmont Industries designs and manufactures products used in infrastructure and agriculture. Founded in 1946, the company has grown from a maker of steel irrigation equipment into a global provider of engineered products and services. Its infrastructure business supplies utility structures, poles and towers, lighting and traffic products, telecommunications structures, and protective coatings. These products support electric power, transportation, communications, and other infrastructure markets.