Valmont Industries, Inc. (NYSE:VMI) was upgraded by analysts at Boenning Scattergood from a “neutral” rating to an “outperform” rating in a report issued on Friday.
VMI has been the subject of a number of other reports. Zacks Investment Research downgraded Valmont Industries from a “buy” rating to a “hold” rating in a report on Friday, May 26th. Stifel Nicolaus upgraded Valmont Industries from a “hold” rating to a “buy” rating and increased their price objective for the stock from $160.00 to $167.00 in a report on Monday, April 17th. Finally, BidaskClub upgraded Valmont Industries from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $168.00.
Valmont Industries (NYSE:VMI) opened at 148.45 on Friday. Valmont Industries has a 52 week low of $120.65 and a 52 week high of $165.20. The company’s 50-day moving average price is $151.49 and its 200 day moving average price is $150.53. The company has a market capitalization of $3.35 billion, a PE ratio of 18.39 and a beta of 0.97.
Valmont Industries (NYSE:VMI) last announced its quarterly earnings results on Wednesday, July 19th. The industrial products company reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.05. The company had revenue of $712.70 million during the quarter, compared to the consensus estimate of $668.06 million. Valmont Industries had a return on equity of 14.89% and a net margin of 6.94%. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.85 earnings per share. On average, equities research analysts anticipate that Valmont Industries will post $7.10 EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Global X Management Co. LLC boosted its position in shares of Valmont Industries by 220.0% in the second quarter. Global X Management Co. LLC now owns 720 shares of the industrial products company’s stock valued at $108,000 after buying an additional 495 shares during the period. Pinnacle Bank acquired a new stake in Valmont Industries during the first quarter worth about $117,000. Riverhead Capital Management LLC boosted its stake in Valmont Industries by 85.6% in the second quarter. Riverhead Capital Management LLC now owns 1,299 shares of the industrial products company’s stock worth $194,000 after buying an additional 599 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Valmont Industries by 0.6% in the second quarter. Janney Montgomery Scott LLC now owns 1,339 shares of the industrial products company’s stock worth $200,000 after buying an additional 8 shares during the last quarter. Finally, Gofen & Glossberg LLC IL acquired a new stake in Valmont Industries during the first quarter worth about $205,000. 84.97% of the stock is owned by hedge funds and other institutional investors.
Valmont Industries Company Profile
Valmont Industries, Inc is a producer of fabricated metal products, and steel, aluminum and composite pole, tower and other structures, and mechanized irrigation systems. The Company’s segments are Engineered Support Structures (ESS); Utility Support Structures; Energy and Mining; Coatings; Irrigation, and Other.
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