Valvoline (NYSE:VVV) PT Lowered to $48.00

Valvoline (NYSE:VVV) had its price objective cut by Royal Bank of Canada from $54.00 to $48.00 in a report issued on Thursday morning, Benzinga reports. They currently have an outperform rating on the basic materials company’s stock.

Other analysts have also issued research reports about the company. Citigroup boosted their price target on Valvoline from $45.00 to $48.00 and gave the company a neutral rating in a report on Friday, July 19th. Wells Fargo & Company cut their price objective on Valvoline from $50.00 to $46.00 and set an overweight rating for the company in a research note on Thursday. Finally, Piper Sandler began coverage on shares of Valvoline in a report on Wednesday, June 12th. They issued an overweight rating and a $49.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Valvoline presently has a consensus rating of Moderate Buy and a consensus price target of $46.00.

Valvoline Price Performance

Shares of NYSE:VVV opened at $39.87 on Thursday. The company has a quick ratio of 0.69, a current ratio of 0.73 and a debt-to-equity ratio of 15.83. The stock has a market capitalization of $5.14 billion, a PE ratio of 31.64 and a beta of 1.43. The firm’s 50 day moving average price is $43.26 and its 200-day moving average price is $42.22. Valvoline has a twelve month low of $29.15 and a twelve month high of $48.26.

Valvoline (NYSE:VVV) last released its quarterly earnings results on Wednesday, August 7th. The basic materials company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.03). Valvoline had a return on equity of 136.59% and a net margin of 11.78%. The business had revenue of $421.00 million during the quarter, compared to the consensus estimate of $425.17 million. During the same quarter in the previous year, the business posted $0.43 earnings per share. The firm’s revenue was up 11.9% on a year-over-year basis. Equities research analysts expect that Valvoline will post 1.61 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its stake in Valvoline by 19,218.1% in the 4th quarter. Wellington Management Group LLP now owns 3,735,549 shares of the basic materials company’s stock worth $140,382,000 after purchasing an additional 3,716,212 shares in the last quarter. Congress Asset Management Co. MA bought a new stake in shares of Valvoline in the fourth quarter worth about $123,526,000. Wasatch Advisors LP lifted its position in shares of Valvoline by 25.1% in the first quarter. Wasatch Advisors LP now owns 8,507,925 shares of the basic materials company’s stock worth $379,198,000 after buying an additional 1,706,190 shares in the last quarter. Norges Bank bought a new position in Valvoline during the fourth quarter valued at approximately $61,656,000. Finally, Fiduciary Management Inc. WI grew its holdings in Valvoline by 55.0% during the 4th quarter. Fiduciary Management Inc. WI now owns 3,055,520 shares of the basic materials company’s stock valued at $114,826,000 after buying an additional 1,083,722 shares in the last quarter. 96.13% of the stock is currently owned by institutional investors.

About Valvoline

Valvoline Inc engages in the operation and franchising of vehicle service centers and retail stores in the United States and Canada. The company, through its service centers, provides fluid exchange for motor oil, transmission and differential fluid, and coolant; parts replacement for batteries, filters, wiper blades, and belts; and safety services, such as tire inflation and rotation, bulbs, and safety checks.