Valspar Corp. (VAL) Upgraded by Zacks Investment Research to Buy
Valspar Corp. (NYSE:VAL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The firm presently has a $118.00 price objective on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 11.55% from the company’s current price.
According to Zacks, “Earnings estimates for Valspar have been going up of late. The company is moving forward with its planned merger with Sherwin-Williams, which is expected to create significant synergies. Valspar has a strong pipeline of new products and should gain from its portfolio expansion and cost management initiatives. Also, new business wins coupled with management’s focus on growth, operating efficiencies and geographic expansion should benefit the company.”
Several other research analysts also recently commented on VAL. Morgan Stanley reissued a “sell” rating on shares of Valspar Corp. in a research note on Thursday, June 16th. Deutsche Bank AG reaffirmed a “hold” rating on shares of Valspar Corp. in a research note on Thursday, September 8th. Finally, Barclays PLC set a $110.00 target price on Valspar Corp. and gave the stock a “hold” rating in a research note on Monday, September 12th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $100.39.
Shares of Valspar Corp. (NYSE:VAL) traded up 0.21% during trading on Thursday, hitting $106.00. 253,580 shares of the stock traded hands. The firm has a market cap of $8.41 billion, a price-to-earnings ratio of 24.36 and a beta of 1.53. Valspar Corp. has a 52-week low of $72.98 and a 52-week high of $108.97. The stock has a 50 day moving average of $105.88 and a 200 day moving average of $106.77.
Valspar Corp. (NYSE:VAL) last posted its quarterly earnings data on Wednesday, September 7th. The company reported $1.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.45 by $0.12. Valspar Corp. had a return on equity of 41.74% and a net margin of 8.31%. The firm earned $1.14 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the prior year, the company earned $1.33 EPS. The firm’s revenue was down .6% compared to the same quarter last year. Analysts expect that Valspar Corp. will post $4.94 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend was Tuesday, August 30th. Valspar Corp.’s dividend payout ratio (DPR) is 30.41%.
Institutional investors have recently made changes to their positions in the stock. Creative Planning boosted its position in shares of Valspar Corp. by 1.1% in the second quarter. Creative Planning now owns 1,983 shares of the company’s stock worth $214,000 after buying an additional 22 shares during the period. World Asset Management Inc boosted its position in shares of Valspar Corp. by 1.0% in the second quarter. World Asset Management Inc now owns 4,002 shares of the company’s stock worth $432,000 after buying an additional 38 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its position in shares of Valspar Corp. by 0.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 12,589 shares of the company’s stock worth $1,360,000 after buying an additional 49 shares during the period. Brown Advisory Inc. boosted its position in shares of Valspar Corp. by 0.9% in the second quarter. Brown Advisory Inc. now owns 6,387 shares of the company’s stock worth $690,000 after buying an additional 57 shares during the period. Finally, Evercore Wealth Management LLC boosted its position in shares of Valspar Corp. by 6.1% in the second quarter. Evercore Wealth Management LLC now owns 2,095 shares of the company’s stock worth $226,000 after buying an additional 120 shares during the period. Institutional investors own 71.89% of the company’s stock.
Valspar Corp. Company Profile
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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