Zacks Investment Research Reiterates Buy Rating for Valvoline (VVV)
Valvoline (NYSE:VVV)‘s stock had its “buy” rating restated by Zacks Investment Research in a note issued to investors on Saturday. They presently have a $27.00 price target on the basic materials company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 16.48% 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 equities analysts have also issued reports on the company. Morgan Stanley dropped their price objective on Valvoline from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Friday. Longbow Research raised their price objective on Valvoline from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, December 21st. ValuEngine lowered Valvoline from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Seaport Global Securities lowered Valvoline from a “buy” rating to a “neutral” rating and set a $26.00 price objective on the stock. in a report on Wednesday, November 22nd. Finally, SunTrust Banks reaffirmed a “hold” rating and set a $25.00 price objective on shares of Valvoline in a report on Friday, November 10th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $25.71.
Valvoline (NYSE:VVV) last issued its quarterly earnings data on Wednesday, February 7th. The basic materials company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.01. The company had revenue of $545.00 million for the quarter, compared to analyst estimates of $530.10 million. Valvoline had a negative return on equity of 148.14% and a net margin of 10.37%. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.35 earnings per share. sell-side analysts forecast that Valvoline will post 1.34 EPS for the current year.
In other Valvoline news, SVP Thomas A. Gerrald II sold 3,800 shares of Valvoline stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $24.61, for a total value of $93,518.00. Following the sale, the senior vice president now owns 77 shares of the company’s stock, valued at approximately $1,894.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anthony R. Puckett sold 4,294 shares of Valvoline stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $24.33, for a total value of $104,473.02. Following the completion of the sale, the insider now directly owns 6,192 shares in the company, valued at approximately $150,651.36. The disclosure for this sale can be found here. Company insiders own 0.07% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in VVV. Renaissance Technologies LLC boosted its holdings in Valvoline by 647.3% in the 2nd quarter. Renaissance Technologies LLC now owns 610,973 shares of the basic materials company’s stock valued at $14,492,000 after purchasing an additional 529,220 shares in the last quarter. Virtu KCG Holdings LLC purchased a new stake in Valvoline in the 2nd quarter valued at approximately $393,000. Dimensional Fund Advisors LP purchased a new stake in Valvoline in the 2nd quarter valued at approximately $62,935,000. HighTower Advisors LLC purchased a new stake in Valvoline in the 2nd quarter valued at approximately $218,000. Finally, Macquarie Group Ltd. purchased a new stake in Valvoline in the 2nd quarter valued at approximately $183,000. 92.79% of the stock is currently owned by institutional investors.
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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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