Valvoline Inc. (VVV) Cut to “Hold” at Zacks Investment Research
Valvoline Inc. (NYSE:VVV) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Valvoline Inc. is a producer and distributor of premium-branded automotive, commercial and industrial lubricants as well as automotive chemicals. The company’s brand and franchises consists of Valvoline Instant Oil Change(SM), Valvoline lubricants and automotive chemicals (TM), MaxLife lubricants (TM), SynPower(TM) and Zerex(TM) antifreeze. Valvoline Inc. is based in Lexington, United States. “
A number of other equities analysts have also commented on the stock. SunTrust Banks, Inc. reissued a “hold” rating and issued a $25.00 price target on shares of Valvoline in a research report on Friday. Morgan Stanley lifted their price target on shares of Valvoline from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, J P Morgan Chase & Co reissued a “neutral” rating and issued a $22.00 price target (up previously from $20.00) on shares of Valvoline in a research report on Wednesday, August 9th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $25.38.
Shares of Valvoline (NYSE:VVV) traded up $0.04 on Tuesday, reaching $23.08. 1,682,700 shares of the company traded hands, compared to its average volume of 1,323,156. Valvoline has a 52-week low of $18.72 and a 52-week high of $24.98. The company has a market capitalization of $4,668.48, a price-to-earnings ratio of 16.58, a PEG ratio of 2.59 and a beta of 1.62. The company has a debt-to-equity ratio of -8.84, a quick ratio of 1.29 and a current ratio of 1.65.
Valvoline (NYSE:VVV) last released its quarterly earnings results on Wednesday, November 8th. The basic materials company reported $0.33 EPS for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.01). Valvoline had a net margin of 14.59% and a negative return on equity of 137.91%. The firm had revenue of $547.00 million during the quarter, compared to the consensus estimate of $528.14 million. During the same period in the prior year, the business earned $0.35 EPS. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. research analysts expect that Valvoline will post 1.24 EPS for the current year.
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Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Valvoline by 362.7% in the second quarter. Vanguard Group Inc. now owns 17,555,939 shares of the basic materials company’s stock worth $416,427,000 after acquiring an additional 13,761,975 shares during the last quarter. BlackRock Inc. grew its stake in shares of Valvoline by 1,119.3% in the second quarter. BlackRock Inc. now owns 16,915,393 shares of the basic materials company’s stock worth $401,234,000 after acquiring an additional 15,528,107 shares during the last quarter. Boston Partners grew its stake in shares of Valvoline by 1.5% in the third quarter. Boston Partners now owns 9,347,906 shares of the basic materials company’s stock worth $219,209,000 after acquiring an additional 133,924 shares during the last quarter. Evercore Trust Company N.A. acquired a new stake in shares of Valvoline in the second quarter worth $136,610,000. Finally, State Street Corp grew its stake in shares of Valvoline by 1,123.5% in the second quarter. State Street Corp now owns 5,259,138 shares of the basic materials company’s stock worth $124,750,000 after acquiring an additional 4,829,291 shares during the last quarter. Institutional investors and hedge funds own 92.77% of the company’s stock.
Valvoline Inc (Valvoline) is engaged in the production and distribution of automotive, commercial and industrial lubricants, and automotive chemicals. The Company operates through three segments: Core North America, Quick Lubes and International. The Core North America segment sells Valvoline, and other branded and private label products in the United States and Canada to both consumers performing their own automotive maintenance, referred to as Do-It-Yourself (DIY) consumers, as well as, to installer customers using Valvoline products to service vehicles owned by Do-It-For-Me (DIFM) consumers.
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