Valmont Industries (NYSE:VMI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Valmont Industries (NYSE:VMI) from a hold rating to a buy rating in a report issued on Saturday morning,Wall Street Zen reports.

Several other research analysts have also commented on VMI. JPMorgan Chase & Co. boosted their price target on Valmont Industries from $600.00 to $620.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. Zacks Research cut Valmont Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Stifel Nicolaus raised their price objective on Valmont Industries from $645.00 to $678.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Finally, Weiss Ratings upgraded Valmont Industries from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Valmont Industries currently has a consensus rating of “Moderate Buy” and a consensus price target of $587.00.

Valmont Industries Price Performance

NYSE VMI opened at $428.00 on Friday. The company has a market cap of $8.26 billion, a PE ratio of 15.89, a P/E/G ratio of 0.98 and a beta of 1.34. The firm’s 50 day moving average price is $469.97 and its 200-day moving average price is $477.13. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.56 and a current ratio of 2.41. Valmont Industries has a 52-week low of $378.02 and a 52-week high of $585.71.

Valmont Industries (NYSE:VMI) 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 company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.12 billion. Valmont Industries had a net margin of 12.05% and a return on equity of 26.25%. Valmont Industries’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.98 earnings per share. Sell-side analysts forecast that Valmont Industries will post 23.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Valmont Industries

Large investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of Valmont Industries in the 2nd quarter worth $1,141,369,000. Bank of America Corp DE purchased a new stake in Valmont Industries in the second quarter valued at about $175,408,000. Bank of New York Mellon Corp acquired a new stake in Valmont Industries in the second quarter worth about $83,723,000. Jupiter Topco LLC acquired a new stake in Valmont Industries in the second quarter worth about $75,308,000. Finally, Bornite Capital Management LP purchased a new stake in shares of Valmont Industries during the second quarter worth about $37,717,000. 87.84% of the stock is owned by institutional investors and hedge funds.

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.