Valmont Industries Downgraded to “Neutral” at Zacks (VMI)
Valmont Industries (NYSE:VMI) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a report released on Friday, ARN reports. They currently have a $143.00 price target on the stock. Zacks‘ price objective suggests a potential upside of 4.88% from the company’s current price.
Shares of Valmont Industries (NYSE:VMI) traded down 0.12% on Friday, hitting $136.19. 91,084 shares of the company’s stock traded hands. Valmont Industries has a 52 week low of $125.00 and a 52 week high of $164.93. The stock’s 50-day moving average is $140.6 and its 200-day moving average is $145.6. The company has a market cap of $3.646 billion and a price-to-earnings ratio of 12.66.
Valmont Industries (NYSE:VMI) last announced its earnings results on Wednesday, July 17th. The company reported $3.33 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.92 by $0.41. The company had revenue of $878.66 million for the quarter, compared to the consensus estimate of $884.58 million. During the same quarter last year, the company posted $2.24 earnings per share. Valmont Industries’s revenue was up 14.5% compared to the same quarter last year. On average, analysts predict that Valmont Industries will post $11.06 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, October 15th. Investors of record on Friday, September 27th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend is Wednesday, September 25th.
A number of other firms have also recently commented on VMI. Analysts at Stifel Nicolaus downgraded shares of Valmont Industries (NYSE:VMI) from a “buy” rating to a “hold” rating in a research note to investors on Tuesday. They now have a $175.00 price target on the stock. Separately, analysts at William Blair downgraded shares of Valmont Industries (NYSE:VMI) from an “outperform” rating to a “market perform” rating in a research note to investors on Thursday, September 26th. Finally, analysts at DA Davidson reiterated a “buy” rating on shares of Valmont Industries (NYSE:VMI) in a research note to investors on Friday, July 19th. They now have a $190.00 price target on the stock, up previously from $185.00. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $166.50.
Valmont Industries, Inc is a global producer of fabricated metal products. The Company operates in four segments: Engineered Infrastructure Products, which consists of the manufacture of engineered metal structures and components for the global lighting and traffic, wireless communication, roadway safety and access systems applications; Utility Support Structures, which consists of the manufacture of engineered steel and concrete structures for the global utility industry; Coatings, which consists of galvanizing, anodizing and powder coating services on a global basis, and Irrigation, which consists of the manufacture of agricultural irrigation equipment and related parts and services for the global agricultural industry.
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