Valmont Industries (VMI) Upgraded to “Hold” at Zacks Investment Research

Valmont Industries (NYSE:VMI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

According to Zacks, “Estimates for Valmont for the current quarter and full year have been stable lately. Valmont is pursuing an aggressive acquisition strategy and capacity expansion plan to boost growth. The company is also looking to improve its overall cost structure through restructuring actions. It has also outperformed the industry it belongs to over the past six months. However, Valmont has 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.”

Several other equities analysts have also recently commented on VMI. Stifel Nicolaus reissued a “buy” rating and set a $183.00 target price on shares of Valmont Industries in a research report on Tuesday, October 17th. Boenning Scattergood reissued a “buy” rating and set a $185.00 target price on shares of Valmont Industries in a research report on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $174.25.

Valmont Industries (VMI) opened at $170.55 on Friday. Valmont Industries has a 1 year low of $136.75 and a 1 year high of $176.35. The firm has a market cap of $3,822.96, a PE ratio of 20.35, a P/E/G ratio of 2.12 and a beta of 1.06. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.50 and a quick ratio of 2.53.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings results on Wednesday, October 18th. The industrial products company reported $1.56 earnings per share for the quarter, missing the Thomson Reuters’ 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 business had revenue of $680.78 million during the quarter, compared to the consensus estimate of $652.65 million. During the same period in the previous year, the business posted $1.48 EPS. Valmont Industries’s revenue was up 11.6% compared to the same quarter last year. equities analysts expect that Valmont Industries will post 6.98 earnings per share for the current year.

In other Valmont Industries news, VP Vanessa Kay Brown sold 3,059 shares of Valmont Industries stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $171.74, for a total transaction of $525,352.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.30% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the business. Citigroup Inc. lifted its position in shares of Valmont Industries by 0.7% during the 2nd quarter. Citigroup Inc. now owns 4,530 shares of the industrial products company’s stock worth $678,000 after buying an additional 31 shares in the last quarter. Verity Asset Management Inc. raised its holdings in shares of 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 period. Ameritas Investment Partners Inc. raised its holdings in shares of Valmont Industries by 1.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,759 shares of the industrial products company’s stock worth $1,011,000 after purchasing an additional 120 shares during the period. M&T Bank Corp raised its holdings in shares of Valmont Industries by 11.1% in the 2nd quarter. M&T Bank Corp now owns 2,006 shares of the industrial products company’s stock worth $300,000 after purchasing an additional 200 shares during the period. Finally, Dynamic Technology Lab Private Ltd raised its holdings in shares of Valmont Industries by 7.5% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 5,028 shares of the industrial products company’s stock worth $752,000 after purchasing an additional 350 shares during the period. 85.26% of the stock is currently owned by hedge funds and other institutional investors.

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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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