Wall Street Zen Upgrades Valmont Industries (NYSE:VMI) to Buy

Valmont Industries (NYSE:VMI) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday, Wall Street Zen reports.

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

Valmont Industries Trading Up 0.1%

Shares of NYSE VMI opened at $435.44 on Friday. The company has a market cap of $8.41 billion, a price-to-earnings ratio of 16.16, a price-to-earnings-growth ratio of 0.98 and a beta of 1.34. Valmont Industries has a 12-month low of $378.02 and a 12-month high of $585.71. The company has a current ratio of 2.41, a quick ratio of 1.56 and a debt-to-equity ratio of 0.43. The stock’s 50 day simple moving average is $471.02 and its 200 day simple moving average is $496.65.

Valmont Industries (NYSE:VMI) last released its quarterly earnings data on Tuesday, October 20th. The industrial products company reported $6.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.70 by $0.54. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.12 billion. Valmont Industries had a return on equity of 26.25% and a net margin of 12.05%. During the same quarter in the previous year, the firm posted $4.98 EPS. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. Equities research analysts expect that Valmont Industries will post 23.27 EPS for the current year.

Institutional Trading of Valmont Industries

Institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. bought a new position in shares of Valmont Industries in the second quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Valmont Industries during the fourth quarter valued at approximately $27,000. Elevation Wealth Partners LLC raised its holdings in Valmont Industries by 179.2% during the second quarter. Elevation Wealth Partners LLC now owns 67 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 43 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in Valmont Industries during the first quarter worth approximately $37,000. Finally, Root Financial Partners LLC acquired a new stake in Valmont Industries in the third quarter worth approximately $51,000. 87.84% of the stock is owned by institutional investors and hedge funds.

About Valmont Industries

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.