The Valspar Corp (VAL) reported quarterly earnings results on Tuesday, May-24-2016. The company reported $1.22 earnings per share for the quarter, missing the analyst consensus estimate by $-0.04. Analysts had a consensus of $1.26. The company posted revenue of $1056.80 million in the period, compared to analysts expectations of $1123.87 million. The company’s revenue was down -2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.11 EPS.
Many Wall Street Analysts have commented on The Valspar Corp. The Valspar Corp was Downgraded by Longbow to ” Neutral” on Mar 22, 2016. Company shares were Downgraded by Deutsche Bank on Mar 21, 2016 to ” Hold”, Firm has raised the Price Target to $ 113 from a previous price target of $92 .The Valspar Corp was Downgraded by KeyBanc Capital Mkts to ” Sector Weight” on Mar 8, 2016.
The Valspar Corp closed down -0.06 points or -0.06% at $106.87 with 8,68,302 shares getting traded on Friday. Post opening the session at $107, the shares hit an intraday low of $106.78 and an intraday high of $107.02 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Dec 15, 2015, Gary E Hendrickson (Chairman, President and CEO) sold 50,000 shares at $84.65 per share price. According to the SEC, on Jun 26, 2015, Howard C Heckes (Executive Vice President) sold 8,000 shares at $84.82 per share price.
The Valspar Corporation is engaged in developing manufacturing and distributing a range of coatings paints and related products. The Company operates through two business segments: Coatings and Paints. The Coatings segment includes the Company’s industrial product lines and packaging product line. The Company offers a range of decorative and protective coatings for metal wood and plastic primarily for sale to original equipment manufacturing (OEM) customers in Asia Australia Europe North America and South America. The Paints segment includes the Company’s consumer paints and automotive paint refinish product lines. The Company offers a range of paints primers topcoats and aerosol spray paints through retailers distribution networks and Company-owned stores.