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 report released on Monday, Wall Street Zen reports.

A number of other research analysts have also weighed in on VMI. JPMorgan Chase & Co. increased their price objective on Valmont Industries from $600.00 to $620.00 and gave the company an “overweight” rating in a report on Wednesday, July 22nd. Weiss Ratings lowered Valmont Industries from a “buy (b)” rating to a “hold (c)” rating in a research note on Wednesday, October 28th. Stifel Nicolaus boosted their target price on Valmont Industries from $645.00 to $678.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Finally, Zacks Research cut Valmont Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $587.00.

Valmont Industries Stock Performance

NYSE:VMI opened at $423.39 on Monday. The company has a current ratio of 2.41, a quick ratio of 1.56 and a debt-to-equity ratio of 0.43. Valmont Industries has a 12-month low of $378.02 and a 12-month high of $585.71. The stock has a 50-day moving average price of $456.88 and a 200 day moving average price of $476.53. The stock has a market capitalization of $8.10 billion, a P/E ratio of 15.72, a P/E/G ratio of 0.95 and a beta of 1.39.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings results 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 company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.12 billion. Valmont Industries had a net margin of 12.05% and a return on equity of 26.25%. Valmont Industries’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.98 EPS. Equities research analysts forecast that Valmont Industries will post 23.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Valmont Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VMI. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Valmont Industries in the second quarter valued at about $28,000. 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 purchased a new position in Valmont Industries during the third quarter worth about $49,000. Root Financial Partners LLC acquired a new stake in Valmont Industries in the third quarter valued at about $51,000. Finally, Eurizon Capital SGR S.p.A. lifted its position in Valmont Industries by 185.0% in the third quarter. Eurizon Capital SGR S.p.A. now owns 114 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 74 shares during the period. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Valmont Industries Company Profile

Valmont Industries designs and manufactures products used in infrastructure and agriculture. Founded in 1946, the company has grown from a maker of steel irrigation equipment into a global provider of engineered products and services. Its infrastructure business supplies utility structures, poles and towers, lighting and traffic products, telecommunications structures, and protective coatings. These products support electric power, transportation, communications, and other infrastructure markets.