Zacks Reiterates “Neutral” Rating for The Valspar (VAL)
The Valspar (NYSE:VAL)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued on Monday. They currently have a $84.00 target price on the stock. Zacks‘s target price indicates a potential upside of 4.61% from the stock’s previous close.
A number of other firms have also recently commented on VAL. Analysts at Barclays reiterated an “equal weight” rating on shares of The Valspar in a research note on Tuesday, August 19th. They now have a $84.00 price target on the stock, up previously from $80.00. Separately, 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. Finally, 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $83.00.
The Valspar (NYSE:VAL) traded up 1.10% during mid-day trading on Monday, hitting $81.18. 119,758 shares of the company’s stock traded hands. The Valspar has a 1-year low of $61.13 and a 1-year high of $82.00. The stock’s 50-day moving average is $77.40 and its 200-day moving average is $74.68. The company has a market cap of $6.754 billion and a P/E ratio of 23.25.
The Valspar (NYSE:VAL) last issued its quarterly earnings data 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 $4.12 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 15th. Investors of record on Tuesday, September 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 1.30%. The ex-dividend date of this dividend is Thursday, August 28th.
In other The Valspar news, CEO Gary E. Hendrickson sold 84,500 shares of the stock on the open market 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
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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