In a report released today, Ryan Connors from Boenning & Scattergood maintained a Hold rating on Valmont (VMI). The company’s shares closed on Friday at $117.90.
Connors said:
“We believe this sets the stage for a substantially back-end loaded full-year earnings profile in 2019, and we adjust our estimates to reflect this (cutting 2Q, upping 3Q-4Q), while our 2019 estimate is unchanged. While the long-term fundamentals are intact, we believe reward/risk is balanced currently, and maintain our Neutral rating for VMI, which trades at a P/E of 14.2 times, within the historical range.”
According to TipRanks.com, Connors is a 5-star analyst with an average return of 11.5% and a 73.1% success rate. Connors covers the Industrial Goods sector, focusing on stocks such as Watts Water Technologies, Mueller Water Products, and Franklin Electric Co.
Currently, the analyst consensus on Valmont is a Moderate Buy with an average price target of $153.
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Valmont’s market cap is currently $2.59B and has a P/E ratio of 28.61. The company has a Price to Book ratio of 2.40.
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Valmont Industries, Inc. engages in the manufacturing of engineered fabricated metal products. It operates through the following four segments: Engineered Support Structures, Utility Support Structures, Irrigation and Coatings.
