Valmont Industries (NYSE:VMI) Cut to "Buy" at StockNews.com
Valmont Industries (NYSE:VMI) has been downgraded from a "strong-buy" to a "buy" rating by StockNews.com. Other analysts have also adjusted their ratings, with DA Davidson lowering it to "neutral" and Stifel Nicolaus raising the target price to $425.00. Valmont's stock opened at $289.99, with a market cap of $5.82 billion and a P/E ratio of 16.88. The company reported $3.84 EPS for the last quarter, exceeding estimates. Institutional investors hold 87.84% of the stock, indicating strong interest in the company.
Valmont Industries (NYSE:VMI - Get Free Report) was downgraded by equities researchers at StockNews.com from a "strong-buy" rating to a "buy" rating in a research report issued on Saturday.
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VMI has been the subject of a number of other reports. DA Davidson lowered Valmont Industries from a "buy" rating to a "neutral" rating and set a $380.00 price objective for the company. in a research report on Wednesday, February 19th. Stifel Nicolaus raised their target price on shares of Valmont Industries from $387.00 to $425.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Finally, William Blair cut shares of Valmont Industries from an "outperform" rating to a "market perform" rating in a research report on Friday, March 21st.
View Our Latest Report on Valmont Industries
Valmont Industries Price Performance
Shares of VMI stock opened at $289.99 on Friday. Valmont Industries has a 1 year low of $202.01 and a 1 year high of $379.22. The company has a current ratio of 2.07, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47. The firm's 50 day moving average is $329.60 and its 200-day moving average is $319.75. The firm has a market capitalization of $5.82 billion, a price-to-earnings ratio of 16.88 and a beta of 0.98.
Valmont Industries (NYSE:VMI - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $3.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.63 by $0.21. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. Valmont Industries had a return on equity of 23.15% and a net margin of 8.55%. During the same quarter in the prior year, the business earned $3.18 EPS. Sell-side analysts forecast that Valmont Industries will post 18.07 EPS for the current fiscal year.
Hedge Funds Weigh In On Valmont Industries
Several institutional investors have recently modified their holdings of VMI. Dynamic Technology Lab Private Ltd bought a new position in Valmont Industries during the 3rd quarter worth approximately $558,000. Bank of Montreal Can boosted its position in shares of Valmont Industries by 371.6% during the third quarter. Bank of Montreal Can now owns 21,927 shares of the industrial products company's stock worth $6,338,000 after purchasing an additional 17,278 shares in the last quarter. FMR LLC increased its position in shares of Valmont Industries by 4.0% in the 3rd quarter. FMR LLC now owns 349,426 shares of the industrial products company's stock valued at $101,316,000 after buying an additional 13,509 shares in the last quarter. Townsquare Capital LLC increased its position in shares of Valmont Industries by 8.7% in the 3rd quarter. Townsquare Capital LLC now owns 10,764 shares of the industrial products company's stock valued at $3,121,000 after buying an additional 857 shares in the last quarter. Finally, Bridgewater Associates LP raised its stake in Valmont Industries by 171.5% during the 3rd quarter. Bridgewater Associates LP now owns 5,219 shares of the industrial products company's stock worth $1,513,000 after buying an additional 3,297 shares during the period. 87.84% of the stock is currently owned by institutional investors and hedge funds.
About Valmont Industries
(Get Free Report)Valmont Industries, Inc operates as manufacturer of products and services for infrastructure and agriculture markets in the United States, Australia, Brazil, and internationally. It operates through two segments, Infrastructure and Agriculture. The company manufactures and distributes steel, pre-stressed concrete, composite structures for electrical transmission, substation, and distribution applications; and designs, engineers, and manufactures metal, steel, wood, aluminum, and composite poles and structures for lighting and transportation applications.
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