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

Valmont Industries (NYSE:VMI) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.

Several other equities research analysts also recently issued reports on VMI. JPMorgan Chase & Co. raised their target price on shares of Valmont Industries from $600.00 to $620.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. Weiss Ratings raised Valmont Industries from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, July 30th. Oppenheimer set a $600.00 price target on Valmont Industries and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Zacks Research lowered Valmont Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Finally, Stifel Nicolaus lifted their target price on Valmont Industries from $645.00 to $678.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Valmont Industries currently has an average rating of “Moderate Buy” and an average price target of $587.00.

Valmont Industries Price Performance

Shares of VMI opened at $494.14 on Friday. The company has a market cap of $9.54 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 1.13 and a beta of 1.35. Valmont Industries has a 1-year low of $360.41 and a 1-year high of $585.71. The company’s fifty day simple moving average is $532.95 and its 200 day simple moving average is $482.59. The company has a current ratio of 2.35, a quick ratio of 1.55 and a debt-to-equity ratio of 0.42.

Valmont Industries (NYSE:VMI) last posted its quarterly earnings results on Tuesday, July 21st. The industrial products company reported $6.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.80 by $0.34. Valmont Industries had a net margin of 11.70% and a return on equity of 25.57%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the prior year, the firm posted $4.88 earnings per share. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, research analysts forecast that Valmont Industries will post 23.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO John L. Schwietz bought 208 shares of the stock in a transaction dated Thursday, July 23rd. The shares were bought at an average price of $486.14 per share, for a total transaction of $101,117.12. Following the completion of the purchase, the chief financial officer owned 2,992 shares in the company, valued at approximately $1,454,530.88. This trade represents a 7.47% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Theodor Werner Freye sold 800 shares of Valmont Industries stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $495.00, for a total value of $396,000.00. Following the sale, the director directly owned 2,805 shares of the company’s stock, valued at approximately $1,388,475. The trade was a 22.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.42% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Valmont Industries

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Elyxium Wealth LLC bought a new position in Valmont Industries during the fourth quarter worth about $27,000. Caitong International Asset Management Co. Ltd bought a new stake in Valmont Industries in the 4th quarter valued at about $27,000. Leonteq Securities AG acquired a new position in shares of Valmont Industries during the 4th quarter worth approximately $30,000. State of Wyoming acquired a new position in shares of Valmont Industries during the 4th quarter worth approximately $34,000. Finally, V Square Quantitative Management LLC bought a new position in shares of Valmont Industries during the first quarter worth approximately $37,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Valmont Industries Company Profile

Valmont Industries, Inc (NYSE: VMI) is a diversified industrial manufacturer specializing in infrastructure and agricultural products. Headquartered in Omaha, Nebraska, the company engages in the design, production and distribution of engineered products that support water management, power transmission, lighting and traffic infrastructure. Valmont’s solutions range from center-pivot and lateral-move irrigation systems to utility poles, transmission towers, lighting structures and highway traffic signal support structures.

The company operates through several core business segments.