Valspar Corp. (VAL) Sees Large Volume Increase
Valspar Corp. (NYSE:VAL) saw unusually-strong trading volume on Thursday . Approximately 723,704 shares traded hands during mid-day trading, an increase of 91% from the previous session’s volume of 379,001 shares.The stock last traded at $105.64 and had previously closed at $105.74.
A number of research analysts have recently weighed in on VAL shares. Zacks Investment Research upgraded Valspar Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, June 8th. Vetr raised Valspar Corp. from a “hold” rating to a “strong-buy” rating and set a $126.66 price objective on the stock in a research note on Monday, May 23rd. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Valspar Corp. in a research note on Thursday, May 26th. Finally, Morgan Stanley reaffirmed a “sell” rating on shares of Valspar Corp. in a research note on Thursday, June 16th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $96.06.
The stock has a market cap of $8.37 billion and a price-to-earnings ratio of 25.36. The firm’s 50-day moving average is $107.17 and its 200-day moving average is $99.37.
Valspar Corp. (NYSE:VAL) last posted its quarterly earnings data on Tuesday, May 24th. The company reported $1.22 EPS for the quarter, missing the Zacks’ consensus estimate of $1.26 by $0.04. The firm earned $1.06 billion during the quarter, compared to the consensus estimate of $1.12 billion. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.11 earnings per share. On average, equities research analysts anticipate that Valspar Corp. will post $4.82 earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of VAL. Morgan Stanley increased its stake in Valspar Corp. by 61.4% in the fourth quarter. Morgan Stanley now owns 314,230 shares of the company’s stock worth $26,065,000 after buying an additional 119,485 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Valspar Corp. by 11.7% in the fourth quarter. Bank of Montreal Can now owns 15,847 shares of the company’s stock worth $1,315,000 after buying an additional 1,666 shares during the period. Atlantic Trust Group LLC raised its stake in shares of Valspar Corp. by 5.2% in the fourth quarter. Atlantic Trust Group LLC now owns 14,499 shares of the company’s stock worth $1,202,000 after buying an additional 716 shares during the period. US Bancorp DE raised its stake in shares of Valspar Corp. by 5.7% in the fourth quarter. US Bancorp DE now owns 223,460 shares of the company’s stock worth $18,535,000 after buying an additional 12,134 shares during the period. Finally, Dorsey & Whitney Trust CO LLC raised its stake in shares of Valspar Corp. by 0.9% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 106,647 shares of the company’s stock worth $8,846,000 after buying an additional 935 shares during the period.
The Valspar Corporation is engaged in developing, manufacturing and distributing a range of coatings, paints and related products. The Company operates through two segments: Coatings and Paints. The Coatings segment includes its industrial product lines and packaging product line. The Company offers decorative and protective coatings for metal, wood and plastic primarily for sale to original equipment manufacturing (OEM) customers in Africa, Asia, Australia, Europe, North America and South America.
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