Barclays Reiterates Equal Weight Rating for The Valspar (VAL)
The Valspar (NYSE:VAL)‘s stock had its “equal weight” rating reaffirmed by research analysts at Barclays in a report released on Tuesday. They currently have a $84.00 price target on the stock, up from their previous price target of $80.00. Barclays’ target price suggests a potential upside of 4.61% from the company’s current price.
A number of other firms have also recently commented on VAL. 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 assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $82.00.
In other The Valspar news, CEO Gary E. Hendrickson sold 84,500 shares of the stock on the open market in a transaction dated Thursday, August 14th. The shares were sold at an average price of $79.12, for a total value of $6,685,640.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
The Valspar (NYSE:VAL) traded up 0.70% during mid-day trading on Tuesday, hitting $80.92. The stock had a trading volume of 34,216 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 $76.9 and a 200-day moving average of $74.41. The company has a market cap of $6.732 billion and a P/E ratio of 23.27.
The Valspar (NYSE:VAL) last announced its earnings results 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. Analysts expect that The Valspar will post $4.11 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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