Royal Bank of Canada Issues Pessimistic Forecast for Valvoline (NYSE:VVV) Stock Price

Valvoline (NYSE:VVV) had its price objective reduced by equities researchers at Royal Bank of Canada from $52.00 to $46.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the basic materials company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 19.29% from the stock’s current price.

Several other analysts have also commented on VVV. Baird R W upgraded shares of Valvoline to a “strong-buy” rating in a research report on Thursday, August 15th. Robert W. Baird lowered their price target on shares of Valvoline from $48.00 to $46.00 and set an “outperform” rating on the stock in a research report on Wednesday. Stephens started coverage on shares of Valvoline in a research report on Tuesday, October 15th. They set an “overweight” rating and a $49.00 target price on the stock. Wells Fargo & Company decreased their target price on shares of Valvoline from $46.00 to $44.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Morgan Stanley decreased their target price on shares of Valvoline from $46.00 to $42.00 and set an “overweight” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $46.25.

Valvoline Trading Up 0.2 %

NYSE VVV opened at $38.56 on Wednesday. The stock has a market capitalization of $4.97 billion, a P/E ratio of 23.80 and a beta of 1.46. Valvoline has a 52-week low of $33.86 and a 52-week high of $48.26. The firm has a 50-day moving average price of $41.38 and a 200 day moving average price of $41.94. The company has a quick ratio of 0.62, a current ratio of 0.72 and a debt-to-equity ratio of 5.77.

Valvoline declared that its board has initiated a stock buyback program on Tuesday, July 30th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the basic materials company to reacquire up to 7.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. UMB Bank n.a. lifted its holdings in shares of Valvoline by 92.1% during the third quarter. UMB Bank n.a. now owns 630 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 302 shares during the last quarter. Blue Trust Inc. increased its position in Valvoline by 57.9% in the 2nd quarter. Blue Trust Inc. now owns 728 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 267 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Valvoline during the 2nd quarter valued at about $34,000. Mather Group LLC. increased its holdings in shares of Valvoline by 1,617.0% during the 2nd quarter. Mather Group LLC. now owns 807 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 760 shares during the last quarter. Finally, Prospera Private Wealth LLC acquired a new stake in Valvoline in the 3rd quarter valued at approximately $41,000. Institutional investors own 96.13% of the company’s stock.

Valvoline Company Profile

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.