Valmont Industries (NYSE:VMI) Downgraded to “Buy” Rating by Wall Street Zen

Valmont Industries (NYSE:VMI) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Saturday.

Several other research firms have also recently commented on VMI. Weiss Ratings cut shares of Valmont Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, June 11th. JPMorgan Chase & Co. increased their price target on Valmont Industries from $520.00 to $600.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 17th. Oppenheimer set a $600.00 price objective on Valmont Industries and gave the stock an “outperform” rating in a report on Thursday, May 28th. Zacks Research raised Valmont Industries from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 23rd. Finally, Stifel Nicolaus lifted their price objective on Valmont Industries from $541.00 to $645.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $573.75.

Valmont Industries Price Performance

Valmont Industries stock opened at $568.55 on Friday. The stock has a market capitalization of $11.04 billion, a P/E ratio of 31.57, a P/E/G ratio of 1.35 and a beta of 1.34. Valmont Industries has a 12-month low of $321.21 and a 12-month high of $585.71. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.38 and a quick ratio of 1.59. The firm’s 50-day moving average is $518.41 and its two-hundred day moving average is $460.83.

Valmont Industries (NYSE:VMI) last posted its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $5.51 earnings per share for the quarter, beating analysts’ consensus estimates of $4.72 by $0.79. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $994.85 million. Valmont Industries had a net margin of 8.91% and a return on equity of 24.94%. The company’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.32 earnings per share. Equities analysts predict that Valmont Industries will post 22.83 earnings per share for the current year.

Insider Transactions at Valmont Industries

In related news, Director Mogens C. Bay sold 17,500 shares of the company’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $492.34, for a total transaction of $8,615,950.00. Following the completion of the transaction, the director owned 112,309 shares of the company’s stock, valued at approximately $55,294,213.06. This represents a 13.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.42% of the company’s stock.

Hedge Funds Weigh In On Valmont Industries

A number of hedge funds have recently made changes to their positions in the stock. Millennium Management LLC grew its stake in shares of Valmont Industries by 225.1% during the 1st quarter. Millennium Management LLC now owns 67,630 shares of the industrial products company’s stock valued at $19,300,000 after buying an additional 46,825 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Valmont Industries by 8.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 59,127 shares of the industrial products company’s stock worth $16,873,000 after buying an additional 4,676 shares during the period. Empowered Funds LLC purchased a new position in shares of Valmont Industries in the 1st quarter worth $265,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Valmont Industries by 3.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 72,511 shares of the industrial products company’s stock valued at $20,692,000 after acquiring an additional 2,639 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in Valmont Industries by 223.4% in the first quarter. Geneos Wealth Management Inc. now owns 152 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 105 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

About Valmont Industries

Valmont Industries, Inc (NYSE: VMI) is a diversified industrial manufacturer specializing in infrastructure and agricultural products. Headquartered in Omaha, Nebraska, the company engages in the design, production and distribution of engineered products that support water management, power transmission, lighting and traffic infrastructure. Valmont’s solutions range from center-pivot and lateral-move irrigation systems to utility poles, transmission towers, lighting structures and highway traffic signal support structures.

The company operates through several core business segments.