Valvoline (NYSE:VVV) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday, Zacks.com reports. The firm presently has a $22.00 price target on the basic materials company’s stock. Zacks Investment Research‘s target price points to a potential upside of 8.70% from the company’s previous close.
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. “
Several other brokerages have also recently issued reports on VVV. Morgan Stanley upped their target price on shares of Zynga and gave the company an “overweight” rating in a report on Thursday, May 2nd. Buckingham Research set a $77.00 target price on shares of MSC Industrial Direct and gave the company a “hold” rating in a report on Monday, July 1st. Finally, Monness Crespi & Hardt restated a “buy” rating and issued a $97.00 target price (up previously from $95.00) on shares of Fortinet in a report on Friday, May 3rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $22.56.
NYSE VVV traded up $0.09 on Friday, hitting $20.24. 16,701 shares of the stock were exchanged, compared to its average volume of 957,327. Valvoline has a fifty-two week low of $16.90 and a fifty-two week high of $23.16. The firm has a market cap of $3.76 billion, a P/E ratio of 15.69, a PEG ratio of 1.66 and a beta of 0.99. The firm has a 50-day simple moving average of $19.30.
Valvoline (NYSE:VVV) last posted its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.33 by $0.02. Valvoline had a net margin of 9.70% and a negative return on equity of 76.15%. The company had revenue of $591.00 million during the quarter, compared to analysts’ expectations of $596.71 million. During the same quarter in the previous year, the business posted $0.34 EPS. The firm’s revenue was up 3.9% on a year-over-year basis. On average, analysts predict that Valvoline will post 1.31 earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of VVV. Machina Capital S.A.S. purchased a new position in shares of Valvoline in the 2nd quarter valued at about $121,000. Gateway Investment Advisers LLC grew its stake in Valvoline by 73.2% in the 2nd quarter. Gateway Investment Advisers LLC now owns 421,920 shares of the basic materials company’s stock valued at $8,240,000 after acquiring an additional 178,267 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in Valvoline by 1.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 77,107 shares of the basic materials company’s stock valued at $1,506,000 after acquiring an additional 1,076 shares during the last quarter. AdvisorNet Financial Inc grew its stake in Valvoline by 83.2% in the 2nd quarter. AdvisorNet Financial Inc now owns 4,405 shares of the basic materials company’s stock valued at $86,000 after acquiring an additional 2,000 shares during the last quarter. Finally, 6 Meridian grew its stake in Valvoline by 3.3% in the 2nd quarter. 6 Meridian now owns 23,106 shares of the basic materials company’s stock valued at $451,000 after acquiring an additional 740 shares during the last quarter. Hedge funds and other institutional investors own 96.78% of the company’s stock.
Valvoline Inc manufactures and markets engine and automotive maintenance products and services. It operates through three segments: Core North America, Quick Lubes, and International. The company offers lubricants for passenger car, light duty, and heavy duty; antifreeze/coolants for original equipment manufacturers; functional and maintenance chemicals, such as brake fluids and power steering fluids, as well as specialty coatings for automotive and industrial applications comprising rust prevention and sound absorption; and oil and air filters for light-duty vehicles.
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