Valmont Industries’ (NYSE:VMI) Buy Rating Reaffirmed at Boenning Scattergood

Valmont Industries, Inc. (NYSE:VMI)‘s stock had its “buy” rating restated by investment analysts at Boenning Scattergood in a research note issued to investors on Thursday, October 19th. They currently have a $185.00 target price on the industrial products company’s stock. Boenning Scattergood’s price objective would suggest a potential upside of 15.77% from the stock’s previous close. Boenning Scattergood also issued estimates for Valmont Industries’ Q1 2018 earnings at $1.72 EPS.

Several other research firms have also recently commented on VMI. Stifel Nicolaus restated a “buy” rating and issued a $171.00 target price on shares of Valmont Industries in a research report on Friday, July 14th. BidaskClub upgraded shares of Valmont Industries from a “strong sell” rating to a “sell” rating in a report on Thursday, July 6th. Zacks Investment Research upgraded shares of Valmont Industries from a “hold” rating to a “buy” rating and set a $178.00 price objective for the company in a report on Tuesday, October 17th. Finally, Seaport Global Securities began coverage on shares of Valmont Industries in a report on Wednesday, September 6th. They set a “buy” rating and a $160.00 target price for the company. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $176.50.

Valmont Industries (NYSE:VMI) traded down 0.25% during trading on Thursday, reaching $159.80. The company’s stock had a trading volume of 49,638 shares. Valmont Industries has a one year low of $121.05 and a one year high of $165.20. The stock has a 50-day moving average of $156.03 and a 200 day moving average of $151.54. The firm has a market capitalization of $3.61 billion, a P/E ratio of 19.79 and a beta of 0.99.

Valmont Industries (NYSE:VMI) last released its quarterly earnings data on Wednesday, October 18th. The industrial products company reported $1.56 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($0.04). Valmont Industries had a return on equity of 14.56% and a net margin of 7.02%. The business had revenue of $680.78 million for the quarter, compared to analyst estimates of $652.65 million. During the same quarter last year, the company earned $1.48 EPS. Valmont Industries’s revenue was up 11.6% compared to the same quarter last year. On average, equities research analysts predict that Valmont Industries will post $6.98 EPS for the current fiscal year.

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Institutional investors have recently added to or reduced their stakes in the company. Global X Management Co. LLC raised its holdings in shares of Valmont Industries by 220.0% during the 2nd quarter. Global X Management Co. LLC now owns 720 shares of the industrial products company’s stock valued at $108,000 after purchasing an additional 495 shares in the last quarter. Riverhead Capital Management LLC grew its stake in Valmont Industries by 85.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,299 shares of the industrial products company’s stock valued at $194,000 after buying an additional 599 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in Valmont Industries by 0.6% in the 2nd quarter. Janney Montgomery Scott LLC now owns 1,339 shares of the industrial products company’s stock valued at $200,000 after buying an additional 8 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in Valmont Industries in the 2nd quarter valued at $212,000. Finally, Verity Asset Management Inc. grew its position in Valmont Industries by 8.1% in the 2nd quarter. Verity Asset Management Inc. now owns 1,588 shares of the industrial products company’s stock worth $238,000 after purchasing an additional 119 shares during the last quarter. Institutional investors and hedge funds own 83.70% of the company’s stock.

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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