Zacks Investment Research Downgrades Valvoline Inc. (VVV) to Hold
Zacks Investment Research downgraded shares of Valvoline Inc. (NYSE:VVV) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.
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 recently issued reports on VVV. J P Morgan Chase & Co restated a neutral rating and set a $22.00 target price (up previously from $20.00) on shares of Valvoline in a report on Wednesday, August 9th. Morgan Stanley raised their target price on Valvoline from $25.00 to $26.00 and gave the stock an equal weight rating in a report on Friday, November 10th. Finally, SunTrust Banks, Inc. restated a hold rating and set a $25.00 target price on shares of Valvoline in a report on Friday, November 10th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $25.38.
Valvoline (NYSE VVV) opened at $24.47 on Tuesday. The company has a current ratio of 1.65, a quick ratio of 1.29 and a debt-to-equity ratio of -8.84. Valvoline has a 1-year low of $19.57 and a 1-year high of $25.07. The stock has a market capitalization of $4,713.06, a PE ratio of 16.73, a price-to-earnings-growth ratio of 2.22 and a beta of 1.62.
Valvoline (NYSE:VVV) last issued its earnings results on Wednesday, November 8th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.01). Valvoline had a negative return on equity of 137.91% and a net margin of 14.59%. The company had revenue of $547.00 million for the quarter, compared to the consensus estimate of $528.14 million. During the same quarter last year, the business posted $0.35 EPS. Valvoline’s quarterly revenue was up 10.7% on a year-over-year basis. sell-side analysts expect that Valvoline will post 1.25 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.0745 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Thursday, November 30th. This is a boost from Valvoline’s previous quarterly dividend of $0.05. Valvoline’s payout ratio is 13.42%.
Several large investors have recently added to or reduced their stakes in VVV. BlackRock Inc. lifted its holdings in shares of Valvoline by 1,119.3% during the 2nd quarter. BlackRock Inc. now owns 16,915,393 shares of the basic materials company’s stock valued at $401,234,000 after purchasing an additional 15,528,107 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Valvoline by 362.7% during the 2nd quarter. Vanguard Group Inc. now owns 17,555,939 shares of the basic materials company’s stock valued at $416,427,000 after purchasing an additional 13,761,975 shares in the last quarter. Boston Partners lifted its holdings in shares of Valvoline by 344.0% during the 2nd quarter. Boston Partners now owns 9,213,982 shares of the basic materials company’s stock valued at $218,556,000 after purchasing an additional 7,138,800 shares in the last quarter. Evercore Trust Company N.A. bought a new position in shares of Valvoline during the 2nd quarter valued at about $136,610,000. Finally, Janus Henderson Group PLC bought a new position in shares of Valvoline during the 2nd quarter valued at about $118,964,000. Institutional investors and hedge funds own 92.77% of the company’s stock.
Valvoline Company Profile
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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