Zacks Investment Research upgraded shares of Valspar Corp. (NYSE:VAL) from a hold rating to a buy rating in a research report sent to investors on Thursday. They currently have $118.00 price target on the stock.
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 have also issued reports on VAL. Deutsche Bank AG reissued a hold rating on shares of Valspar Corp. in a research report on Thursday, September 8th. Barclays PLC set a $110.00 target price on Valspar Corp. and gave the stock a hold rating in a research report on Monday, September 12th. Finally, Morgan Stanley reaffirmed a sell rating on shares of Valspar Corp. in a research report on Thursday, June 16th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Hold and an average price target of $100.39.
Shares of Valspar Corp. (NYSE:VAL) traded down 0.06% on Thursday, hitting $105.39. The company had a trading volume of 277,521 shares. The firm’s 50 day moving average price is $105.88 and its 200-day moving average price is $106.76. The stock has a market capitalization of $8.36 billion, a PE ratio of 24.22 and a beta of 1.53. Valspar Corp. has a 52 week low of $72.98 and a 52 week high of $108.97.
Valspar Corp. (NYSE:VAL) last announced its earnings results on Wednesday, September 7th. The company reported $1.57 earnings per share (EPS) for the quarter, topping the 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 analyst estimates of $1.18 billion. During the same quarter in the prior year, the company earned $1.33 EPS. The business’s revenue was down .6% compared to the same quarter last year. Analysts forecast that Valspar Corp. will post $4.93 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were given a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $1.32 annualized dividend and a yield of 1.25%. Valspar Corp.’s dividend payout ratio is presently 30.41%.
Institutional investors have recently modified their holdings of the stock. Mizuho Asset Management Co. Ltd. acquired a new position in shares of Valspar Corp. during the second quarter valued at approximately $110,000. Mn Services Vermogensbeheer B.V. purchased a new stake in Valspar Corp. during the second quarter valued at about $185,000. Daiwa Securities Group Inc. purchased a new stake in Valspar Corp. during the second quarter valued at about $205,000. Eqis Capital Management Inc. purchased a new stake in Valspar Corp. during the second quarter valued at about $210,000. Finally, Creative Planning boosted its stake in Valspar Corp. by 1.1% in the second quarter. Creative Planning now owns 1,983 shares of the company’s stock valued at $214,000 after buying an additional 22 shares during the period. 71.89% of the stock is owned by institutional investors.
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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