Credit Suisse Maintains a Hold Rating on Valspar CorpBy Carrie Williams
In a report issued on March 9, Chris Parkinson from Credit Suisse maintained a Hold rating on Valspar Corp (NYSE: VAL), with a price target of $111. The company’s shares closed yesterday at $111.45, close to its 52-week high of $111.84.
According to TipRanks.com, Parkinson is a 1-star analyst with an average return of -3.0% and a 46.2% success rate. Parkinson covers the Basic Materials sector, focusing on stocks such as Compass Minerals International Inc, Platform Specialty Products, and Air Products and Chemicals.
Valspar Corp has an analyst consensus of Hold, with a price target consensus of $113.
The company has a one year high of $111.84 and a one year low of $80.45. Currently, Valspar Corp has an average volume of 418K.
Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of VAL in relation to earlier this year. Most recently, in June 2016, Rolf Engh, the Executive VP of VAL bought 24,000 shares for a total of $644,880.
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The Valspar Corp. engages in the manufacture and distribution of coatings, paints and related products. It operates through the Coatings and Paints segments. The Coatings segment includes its packaging and industrial product lines which offers coatings for metal, wood, and plastic. The Paints segment includes consumer paints and automotive paint refinish product lines which offers paints, primers, topcoats, and aerosol spray paints. The company was founded in 1806 and is headquartered in Minneapolis, MN.