The Valspar’s Buy Rating Reaffirmed at Deutsche Bank (VAL)
The Valspar (NYSE:VAL)‘s stock had its “buy” rating reiterated by Deutsche Bank in a research note issued on Wednesday. They currently have a $90.00 target price on the stock, up from their previous target price of $86.00. Deutsche Bank’s price target would indicate a potential upside of 15.02% from the stock’s previous close.
The Valspar (NYSE:VAL) traded up 1.44% during mid-day trading on Wednesday, hitting $79.38. The stock had a trading volume of 569,325 shares. The Valspar has a one year low of $61.13 and a one year 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 price-to-earnings ratio of 23.24. The Valspar also was the recipient of some unusual options trading on Tuesday. Traders purchased 80 call options on the company. This is an increase of approximately 105% compared to the average daily volume of 39 call options.
The Valspar (NYSE:VAL) last issued its quarterly earnings data on Tuesday, August 12th. The company reported $1.21 earnings per share for the quarter, beating the analysts’ 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. On average, analysts predict that The Valspar will post $4.10 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on VAL. 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. Separately, 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. Finally, 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $81.67.
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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