Valaris (NYSE:VAL) Lowered to “Hold” Rating by Zacks Research

Zacks Research lowered shares of Valaris (NYSE:VAL) from a strong-buy rating to a hold rating in a report issued on Wednesday,Zacks.com reports.

A number of other research analysts also recently commented on the company. Susquehanna increased their price target on Valaris from $49.00 to $51.00 and gave the company a “neutral” rating in a report on Tuesday, October 14th. Barclays raised their price target on shares of Valaris from $43.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 5th. BTIG Research upped their price target on shares of Valaris from $55.00 to $65.00 and gave the company a “buy” rating in a report on Friday, October 31st. Citigroup decreased their price objective on shares of Valaris from $62.00 to $58.00 and set a “neutral” rating for the company in a report on Monday, December 22nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Valaris in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $53.56.

Valaris Stock Up 3.3%

Shares of NYSE:VAL opened at $58.77 on Wednesday. The company has a market capitalization of $4.09 billion, a price-to-earnings ratio of 10.48 and a beta of 1.17. The company has a 50 day moving average of $54.11 and a two-hundred day moving average of $51.87. Valaris has a 52-week low of $27.15 and a 52-week high of $61.70. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.44.

Valaris (NYSE:VAL) last announced its earnings results on Wednesday, October 29th. The company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $1.00 by $1.65. Valaris had a net margin of 16.51% and a return on equity of 17.27%. The business had revenue of $595.70 million during the quarter, compared to the consensus estimate of $568.41 million. Valaris’s revenue for the quarter was down 7.4% compared to the same quarter last year. As a group, analysts forecast that Valaris will post 3.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Valaris

Several hedge funds and other institutional investors have recently modified their holdings of the company. Blume Capital Management Inc. lifted its position in Valaris by 56.5% in the 2nd quarter. Blume Capital Management Inc. now owns 665 shares of the company’s stock valued at $28,000 after purchasing an additional 240 shares during the last quarter. UMB Bank n.a. increased its stake in shares of Valaris by 50.5% in the third quarter. UMB Bank n.a. now owns 778 shares of the company’s stock valued at $38,000 after purchasing an additional 261 shares during the period. Fifth Third Bancorp raised its holdings in shares of Valaris by 77.9% during the second quarter. Fifth Third Bancorp now owns 822 shares of the company’s stock valued at $35,000 after buying an additional 360 shares during the last quarter. Wexford Capital LP acquired a new position in shares of Valaris during the third quarter worth approximately $41,000. Finally, Signaturefd LLC grew its holdings in Valaris by 45.4% in the 2nd quarter. Signaturefd LLC now owns 916 shares of the company’s stock worth $39,000 after buying an additional 286 shares in the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

Valaris Company Profile

Valaris PLC is a leading provider of offshore drilling services to the global energy industry. The company operates a diverse fleet of mobile offshore drilling units, including drillships, semisubmersibles and jackup rigs, designed to support exploration and production activities in deepwater, ultra-deepwater and harsh?environment settings. Valaris serves a wide range of international oil and gas customers, offering turnkey drilling solutions, project management and advanced technology integration to enhance operational efficiency and safety.

Headquartered in Houston, Texas, Valaris maintains a significant presence in key offshore basins around the world.