UPDATE: D.A. Davidson Raises PT on Valmont Industries Following 2Q Earnings Report
In a report published Friday, D.A. Davidson analyst Brent Thielman reiterated a Buy rating on Valmont Industries (NYSE: VMI), and raised the price target from $185.00 to $190.00.
In the report, D.A. Davidson noted, “Valmont reported second quarter earnings of $3.33 per share compared to $2.24 last year (49% year-over-year earnings growth). This compares to our estimate of $2.88 per share and consensus of $2.92. The quarter included a $0.16 per share gain from divestiture of a galvanizing plant in Australia; excluding the gain, earnings were $3.17 (well above expectations). Continued strong results from Irrigation and Utility, coupled with improved profitability in EIP drove the outstanding results.”
Valmont Industries closed on Thursday at $151.08.
Latest Ratings for VMI
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Jul 2021 | Boenning & Scattergood | Upgrades | Neutral | Outperform |
| Feb 2021 | Kansas City Capital | Downgrades | Outperform | Perform |
| Nov 2020 | William Blair | Upgrades | Market Perform | Outperform |
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Posted-In: Brent Thielman D.A. DavidsonAnalyst Color Price Target Analyst Ratings
