The Valspar CEO Sells $6,685,640 in Stock (VAL)
The Valspar (NYSE:VAL) CEO Gary E. Hendrickson unloaded 84,500 shares of The Valspar stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $79.12, for a total value of $6,685,640.00. Following the sale, the chief executive officer now directly owns 204,579 shares in the company, valued at approximately $16,186,290. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of The Valspar in a research note on Wednesday, August 13th. They now have a $83.00 price target on the stock, up previously from $76.00. Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of The Valspar in a research note on Wednesday, August 13th. They now have a $81.00 price target on the stock, up previously from $77.00. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of The Valspar in a research note on Wednesday, August 13th. They now have a $90.00 price target on the stock, up previously from $86.00. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $81.67.
Shares of The Valspar (NYSE:VAL) traded up 1.01% during mid-day trading on Monday, hitting $80.36. The stock had a trading volume of 341,657 shares. The Valspar has a 52-week low of $61.13 and a 52-week high of $82.00. The stock’s 50-day moving average is $76.83 and its 200-day moving average is $74.31. The company has a market cap of $6.685 billion and a P/E ratio of 23.03.
The Valspar (NYSE:VAL) last announced its earnings results on Tuesday, August 12th. The company reported $1.21 earnings per share (EPS) for the quarter, beating the 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 $4.11 earnings per share 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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