Citigroup Inc. Reiterates Neutral Rating for The Valspar (VAL)
The Valspar (NYSE:VAL)‘s stock had its “neutral” rating restated by investment analysts at Citigroup Inc. in a note issued to investors on Wednesday. They currently have a $81.00 price objective on the stock, up from their previous price objective of $77.00. Citigroup Inc.’s price target points to a potential upside of 3.51% from the company’s current price.
VAL has been the subject of a number of other recent research reports. Analysts at Deutsche Bank reiterated a “buy” rating on shares of The Valspar in a research note on Wednesday. They now have a $90.00 price target on the stock, up previously from $86.00. Separately, analysts at Longbow Research raised their price target on shares of The Valspar to $90.00 in a research note on Wednesday. They now have a “buy” rating on the stock. Finally, analysts at Goldman Sachs upgraded shares of The Valspar from a “neutral” rating to a “buy” rating in a research note on Tuesday, July 22nd. They now have a $97.00 price target on the stock, up previously from $83.00. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $81.67.
The Valspar (NYSE:VAL) traded up 1.44% on Wednesday, hitting $79.38. The stock had a trading volume of 569,325 shares. The Valspar has a 52 week low of $61.13 and a 52 week high of $82.00. The stock has a 50-day moving average of $76.56 and a 200-day moving average of $74.1. The company has a market cap of $6.629 billion and a P/E ratio of 23.24. The Valspar also saw unusually large options trading on Tuesday. Traders purchased 80 call options on the stock. This represents an increase of 105% compared to the average volume of 39 call options.
The Valspar (NYSE:VAL) last announced its earnings results on Tuesday, August 12th. The company reported $1.21 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.16 by $0.05. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. Analysts expect that The Valspar will post $4.10 EPS for the current fiscal year.
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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