The Valspar Sets New 1-Year High at $76.67 (VAL)
Shares of The Valspar (NYSE:VAL) reached a new 52-week high during mid-day trading on Friday , American Banking and Market News reports. The stock traded as high as $76.67 and last traded at $75.82, with a volume of 236,168 shares traded. The stock had previously closed at $75.82.
A number of research firms have recently commented on VAL. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of The Valspar in a research note on Wednesday, May 21st. They now have a $76.00 price target on the stock, up previously from $73.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of The Valspar in a research note on Wednesday, May 21st. They now have a $77.00 price target on the stock. Finally, analysts at Morgan Stanley initiated coverage on shares of The Valspar in a research note on Wednesday, March 19th. They set an “underweight” rating and a $73.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $77.27.
The stock has a 50-day moving average of $73.69 and a 200-day moving average of $72.29. The company has a market cap of $6.392 billion and a price-to-earnings ratio of 22.52.
The Valspar (NYSE:VAL) last posted its quarterly earnings results on Monday, May 19th. The company reported $1.07 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.04 by $0.03. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the company posted $0.91 earnings per share. The Valspar’s revenue was up 9.6% compared to the same quarter last year. Analysts expect that The Valspar will post $4.08 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, June 13th. Shareholders of record on Monday, June 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 1.37%. The ex-dividend date of this dividend is Thursday, May 29th.
The Valspar Corporation is engaged in the paint and coatings business. The Company manufactures and distributes a range of coatings, paints and related products.
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