Zacks Investment Research Upgrades Valmont Industries, Inc. (VMI) to Buy

Zacks Investment Research upgraded shares of Valmont Industries, Inc. (NYSE:VMI) from a hold rating to a buy rating in a report published on Friday, May 12th. Zacks Investment Research currently has $171.00 target price on the industrial products company’s stock.

According to Zacks, “Valmont’s adjusted earnings and sales for first-quarter 2017 topped the respective Zacks Consensus Estimate. 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, which should lend support to its earnings in 2017. However, Valmont has underperformed the Zacks categorized 'Steel-Pipes and Tubes' industry over a year.”

Other analysts have also recently issued research reports about the company. TheStreet upgraded Valmont Industries from a c rating to a b- rating in a research report on Tuesday, February 21st. Stifel Nicolaus lifted their target price on Valmont Industries from $167.00 to $170.00 and gave the stock a buy rating in a research report on Sunday, April 23rd. Finally, William Blair reiterated a market perform rating on shares of Valmont Industries in a research report on Sunday, April 23rd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $167.00.

Shares of Valmont Industries (NYSE:VMI) traded down 0.69% during trading on Friday, hitting $150.70. The stock had a trading volume of 272,978 shares. The stock has a 50-day moving average price of $149.65 and a 200 day moving average price of $149.09. Valmont Industries has a 12 month low of $120.65 and a 12 month high of $165.20. The company has a market cap of $3.40 billion, a P/E ratio of 19.07 and a beta of 0.99.

Valmont Industries (NYSE:VMI) last posted its quarterly earnings results on Wednesday, April 19th. The industrial products company reported $1.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.64 by $0.08. Valmont Industries had a return on equity of 16.07% and a net margin of 6.27%. The company had revenue of $637.47 million for the quarter, compared to analysts’ expectations of $626.02 million. During the same period last year, the firm earned $1.45 earnings per share. Valmont Industries’s quarterly revenue was up 6.9% on a year-over-year basis. Equities analysts expect that Valmont Industries will post $7.08 EPS for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be given a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 1.00%. The ex-dividend date is Wednesday, June 28th. Valmont Industries’s dividend payout ratio (DPR) is presently 18.96%.

A number of institutional investors have recently modified their holdings of VMI. Pinnacle Bank bought a new position in shares of Valmont Industries during the first quarter valued at about $117,000. Elkfork Partners LLC acquired a new stake in shares of Valmont Industries during the fourth quarter worth $162,000. Gofen & Glossberg LLC IL acquired a new stake in shares of Valmont Industries during the first quarter worth $205,000. Janney Montgomery Scott LLC acquired a new stake in shares of Valmont Industries during the first quarter worth $207,000. Finally, Timber Hill LLC acquired a new stake in shares of Valmont Industries during the first quarter worth $209,000. Hedge funds and other institutional investors own 85.10% 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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