Valmont Industries, Inc. (VMI) Downgraded by Zacks Investment Research to “Sell”
Valmont Industries, Inc. (NYSE:VMI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.
According to Zacks, “Valmont's adjusted earnings for the third quarter missed the Zacks Consensus Estimate while sales beat expectations. Valmont trimmed its annual earnings guidance factoring in the impact of the disruptions caused by recent hurricanes. The company is also exposed to raw material price pressure and continued challenges in its irrigation business. Weak infrastructure spending is also affecting its Engineered Support Structures unit.”
VMI has been the subject of a number of other research reports. BidaskClub raised Valmont Industries from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 6th. Seaport Global Securities assumed coverage on Valmont Industries in a research report on Wednesday, September 6th. They set a “buy” rating and a $160.00 price target for the company. Boenning Scattergood reaffirmed an “outperform” rating on shares of Valmont Industries in a research report on Tuesday, September 5th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $171.00 target price on shares of Valmont Industries in a research report on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $176.50.
Shares of Valmont Industries (NYSE VMI) traded up 0.57% during trading on Tuesday, reaching $159.90. The company had a trading volume of 34,319 shares. The firm has a 50-day moving average of $155.49 and a 200 day moving average of $151.44. Valmont Industries has a 52 week low of $121.05 and a 52 week high of $165.20. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of 19.81 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 earnings per share (EPS) for the quarter, missing the Zacks’ 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 for the quarter, compared to analysts’ expectations of $652.65 million. During the same period last year, the firm posted $1.48 EPS. Valmont Industries’s revenue was up 11.6% on a year-over-year basis. On average, equities research analysts forecast that Valmont Industries will post $7.01 earnings per share for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Valmont Industries by 5.1% in the second quarter. Vanguard Group Inc. now owns 1,869,447 shares of the industrial products company’s stock worth $279,669,000 after buying an additional 90,745 shares during the period. BlackRock Inc. boosted its position in shares of Valmont Industries by 13,061.6% in the first quarter. BlackRock Inc. now owns 1,764,835 shares of the industrial products company’s stock worth $274,432,000 after buying an additional 1,751,426 shares during the period. Neuberger Berman Group LLC boosted its position in shares of Valmont Industries by 1.7% in the first quarter. Neuberger Berman Group LLC now owns 1,377,502 shares of the industrial products company’s stock worth $214,201,000 after buying an additional 23,156 shares during the period. BlackRock Fund Advisors boosted its position in shares of Valmont Industries by 3.5% in the third quarter. BlackRock Fund Advisors now owns 805,080 shares of the industrial products company’s stock worth $108,340,000 after buying an additional 27,385 shares during the period. Finally, Makaira Partners LLC purchased a new stake in shares of Valmont Industries in the first quarter worth about $83,771,000. 83.70% of the stock is owned by institutional investors.
Valmont Industries Company Profile
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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