Equities research analysts at RBC Capital increased their price objective on shares of Valspar Corp. (NYSE:VAL) from $74.00 to $80.00 in a research note issued to investors on Wednesday, American Banking & Market News reports. The firm currently has an “outperform” rating on the stock. RBC Capital’s target price points to a potential upside of 11.97% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank raised their price target on shares of Valspar Corp. from $75.00 to $85.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Valspar Corp. in a research note to investors on Wednesday. They now have a $70.00 price target on the stock, down previously from $71.00. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $73.36.
Valspar Corp. (NYSE:VAL) traded up 0.73% on Wednesday, hitting $71.45. 777,206 shares of the company’s stock traded hands. Valspar Corp. has a 52-week low of $58.97 and a 52-week high of $74.25. The stock has a 50-day moving average of $68.39 and a 200-day moving average of $67.36. The company has a market cap of $6.193 billion and a P/E ratio of 21.69.
Valspar Corp. (NYSE:VAL) last posted its quarterly earnings results on Tuesday, November 19th. The company reported $0.97 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.92 by $0.05. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the company posted $0.86 earnings per share. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. Analysts expect that Valspar Corp. will post $4.12 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, December 13th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Wednesday, November 27th. This is a positive change from Valspar Corp.’s previous quarterly dividend of $0.23.
The Valspar Corporation is a global coating and paint manufacturer and distributor. The Company manufactures and distributes a range of coatings, paints and related products.
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