Valmont Industries, Inc. (NYSE:VMI)‘s stock had its “buy” rating reaffirmed by investment analysts at Boenning Scattergood in a research note issued on Thursday. They currently have a $185.00 price objective on the industrial products company’s stock. Boenning Scattergood’s price objective points to a potential upside of 15.99% from the company’s current price. Boenning Scattergood also issued estimates for Valmont Industries’ Q1 2018 earnings at $1.72 EPS.

A number of other brokerages have also recently issued reports on VMI. Stifel Nicolaus reissued a “buy” rating and issued a $171.00 target price on shares of Valmont Industries in a report on Friday, July 14th. BidaskClub raised Valmont Industries from a “strong sell” rating to a “sell” rating in a report on Thursday, July 6th. Zacks Investment Research raised Valmont Industries from a “hold” rating to a “buy” rating and set a $178.00 target price for the company in a report on Tuesday, October 17th. Finally, Seaport Global Securities assumed coverage on Valmont Industries in a report on Wednesday, September 6th. They issued a “buy” rating and a $160.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. Valmont Industries currently has an average rating of “Buy” and an average target price of $176.50.

Shares of Valmont Industries (VMI) traded down 1.15% during midday trading on Thursday, hitting $159.50. The stock had a trading volume of 163,840 shares. Valmont Industries has a 12-month low of $121.05 and a 12-month high of $165.20. The firm has a 50-day moving average of $155.09 and a 200 day moving average of $151.42. The firm has a market cap of $3.60 billion, a PE ratio of 22.28 and a beta of 0.99.

Valmont Industries (NYSE:VMI) last posted its quarterly earnings results on Wednesday, October 18th. The industrial products company reported $1.56 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.04). Valmont Industries had a net margin of 7.02% and a return on equity of 14.56%. The firm had revenue of $680.78 million during the quarter, compared to analyst estimates of $652.65 million. During the same period last year, the company earned $1.48 EPS. The company’s revenue was up 11.6% on a year-over-year basis. On average, analysts expect that Valmont Industries will post $7.04 earnings per share for the current year.

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A number of institutional investors and hedge funds have recently made changes to their positions in VMI. UBS Asset Management Americas Inc. boosted its position in shares of Valmont Industries by 13.2% in the 1st quarter. UBS Asset Management Americas Inc. now owns 22,463 shares of the industrial products company’s stock worth $3,493,000 after purchasing an additional 2,611 shares during the last quarter. Morgan Stanley boosted its position in shares of Valmont Industries by 78.1% in the 1st quarter. Morgan Stanley now owns 142,825 shares of the industrial products company’s stock worth $22,209,000 after purchasing an additional 62,613 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Valmont Industries by 54.6% in the 1st quarter. Legal & General Group Plc now owns 22,867 shares of the industrial products company’s stock worth $3,555,000 after purchasing an additional 8,076 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Valmont Industries by 5.0% in the 2nd quarter. American Century Companies Inc. now owns 135,512 shares of the industrial products company’s stock worth $20,273,000 after purchasing an additional 6,485 shares during the last quarter. Finally, Prudential Financial Inc. boosted its position in shares of Valmont Industries by 516.7% in the 2nd quarter. Prudential Financial Inc. now owns 150,833 shares of the industrial products company’s stock worth $22,565,000 after purchasing an additional 126,375 shares during the last quarter. Hedge funds and other institutional investors own 83.63% of the company’s stock.

About Valmont Industries

Valmont Industries, Inc is a producer of fabricated metal products, and steel, aluminum and composite pole, tower and other structures, and mechanized irrigation systems. The Company’s segments are Engineered Support Structures (ESS); Utility Support Structures; Energy and Mining; Coatings; Irrigation, and Other.

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