Valvoline’s (VVV) Overweight Rating Reiterated at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Valvoline (NYSE:VVV) in a research note issued to investors on Friday,Benzinga reports. The firm currently has a $44.00 target price on the basic materials company’s stock, down from their previous target price of $45.00.

VVV has been the subject of a number of other research reports. Royal Bank of Canada increased their target price on shares of Valvoline from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. raised their price objective on shares of Valvoline from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Citigroup dropped their target price on Valvoline from $41.00 to $38.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. TD Securities started coverage on Valvoline in a research note on Friday, April 4th. They set a “buy” rating and a $40.00 price target for the company. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $38.00 price objective (down previously from $42.00) on shares of Valvoline in a research note on Tuesday, January 21st. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $42.33.

Valvoline Stock Performance

VVV opened at $33.00 on Friday. Valvoline has a twelve month low of $31.02 and a twelve month high of $48.27. The stock has a market cap of $4.19 billion, a PE ratio of 15.79 and a beta of 1.20. The business’s 50 day moving average is $34.42 and its 200-day moving average is $37.01. The company has a current ratio of 0.70, a quick ratio of 0.58 and a debt-to-equity ratio of 4.39.

Valvoline (NYSE:VVV) last announced its quarterly earnings results on Thursday, May 8th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Valvoline had a return on equity of 143.64% and a net margin of 16.34%. The business had revenue of $403.20 million for the quarter, compared to analyst estimates of $405.38 million. During the same quarter last year, the firm posted $0.37 EPS. The company’s revenue was up 3.7% compared to the same quarter last year. On average, analysts predict that Valvoline will post 1.63 earnings per share for the current year.

Insiders Place Their Bets

In other Valvoline news, insider Julie Marie O’daniel sold 6,000 shares of Valvoline stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $37.41, for a total transaction of $224,460.00. Following the transaction, the insider now directly owns 15,305 shares in the company, valued at approximately $572,560.05. The trade was a 28.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

Institutional Trading of Valvoline

Several hedge funds and other institutional investors have recently modified their holdings of VVV. Barclays PLC lifted its stake in Valvoline by 52.4% in the 3rd quarter. Barclays PLC now owns 53,580 shares of the basic materials company’s stock worth $2,242,000 after acquiring an additional 18,414 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Valvoline by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,642,754 shares of the basic materials company’s stock worth $59,435,000 after purchasing an additional 16,912 shares in the last quarter. Private Advisor Group LLC purchased a new stake in shares of Valvoline in the fourth quarter worth approximately $223,000. Avantax Advisory Services Inc. boosted its holdings in shares of Valvoline by 33.7% during the fourth quarter. Avantax Advisory Services Inc. now owns 15,909 shares of the basic materials company’s stock worth $576,000 after purchasing an additional 4,013 shares during the period. Finally, Park Avenue Securities LLC grew its position in Valvoline by 24.9% during the fourth quarter. Park Avenue Securities LLC now owns 8,805 shares of the basic materials company’s stock valued at $319,000 after purchasing an additional 1,753 shares in the last quarter. Institutional investors and hedge funds own 96.13% of the company’s stock.

Valvoline Company Profile

Valvoline Inc engages in the operation and franchising of vehicle service centers and retail stores in the United States and Canada. The company, through its service centers, provides fluid exchange for motor oil, transmission and differential fluid, and coolant; parts replacement for batteries, filters, wiper blades, and belts; and safety services, such as tire inflation and rotation, bulbs, and safety checks.