Valmont Industries (NYSE:VMI) Downgraded by StockNews.com to Buy

Valmont Industries (NYSE:VMI) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Wednesday.

Other equities analysts have also recently issued reports about the company. DA Davidson cut Valmont Industries from a “buy” rating to a “neutral” rating and set a $380.00 price objective on the stock. in a research report on Wednesday, February 19th. Stifel Nicolaus upped their price objective on Valmont Industries from $387.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th.

Valmont Industries Stock Performance

Shares of VMI opened at $326.50 on Wednesday. The company has a quick ratio of 1.55, a current ratio of 2.07 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average price is $332.53 and its 200-day moving average price is $318.77. Valmont Industries has a 52 week low of $202.01 and a 52 week high of $379.22. The stock has a market cap of $6.55 billion, a P/E ratio of 19.00 and a beta of 0.98.

Valmont Industries (NYSE:VMI) last issued its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $3.84 EPS for the quarter, topping analysts’ consensus estimates of $3.63 by $0.21. Valmont Industries had a return on equity of 23.15% and a net margin of 8.55%. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the previous year, the firm posted $3.18 EPS. Equities research analysts anticipate that Valmont Industries will post 18.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Valmont Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VMI. Sunbelt Securities Inc. purchased a new stake in Valmont Industries during the 3rd quarter valued at $35,000. Point72 Asset Management L.P. purchased a new stake in Valmont Industries during the 3rd quarter valued at $58,000. Aster Capital Management DIFC Ltd raised its stake in Valmont Industries by 175.7% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 193 shares of the industrial products company’s stock valued at $59,000 after buying an additional 123 shares during the last quarter. Quarry LP raised its stake in Valmont Industries by 395.1% during the 4th quarter. Quarry LP now owns 203 shares of the industrial products company’s stock valued at $62,000 after buying an additional 162 shares during the last quarter. Finally, Avior Wealth Management LLC raised its stake in Valmont Industries by 35.9% during the 4th quarter. Avior Wealth Management LLC now owns 212 shares of the industrial products company’s stock valued at $65,000 after buying an additional 56 shares during the last quarter. 87.84% of the stock is owned by institutional investors.

About Valmont Industries

Valmont Industries, Inc operates as manufacturer of products and services for infrastructure and agriculture markets in the United States, Australia, Brazil, and internationally. It operates through two segments, Infrastructure and Agriculture. The company manufactures and distributes steel, pre-stressed concrete, composite structures for electrical transmission, substation, and distribution applications; and designs, engineers, and manufactures metal, steel, wood, aluminum, and composite poles and structures for lighting and transportation applications.