Bank of America cut shares of Valvoline (NYSE:VVV) from a buy rating to an underperform rating in a report released on Tuesday morning, MarketBeat.com reports. Bank of America currently has $20.00 price target on the basic materials company’s stock, down from their previous price target of $24.00.
Other analysts also recently issued research reports about the stock. Monness Crespi & Hardt reduced their target price on shares of Valvoline from $28.00 to $26.00 and set a buy rating for the company in a report on Friday, August 3rd. Zacks Investment Research downgraded shares of Valvoline from a hold rating to a sell rating in a report on Tuesday, July 17th. ValuEngine raised shares of Valvoline from a sell rating to a hold rating in a report on Tuesday, July 10th. JPMorgan Chase & Co. downgraded shares of Valvoline from a neutral rating to an underweight rating and reduced their target price for the stock from $22.00 to $20.00 in a report on Friday, September 14th. Finally, Jefferies Financial Group began coverage on shares of Valvoline in a report on Wednesday, October 3rd. They set a buy rating and a $27.00 target price for the company. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $24.50.
Shares of VVV opened at $20.12 on Tuesday. Valvoline has a one year low of $17.49 and a one year high of $25.63. The stock has a market capitalization of $3.82 billion, a PE ratio of 15.60, a PEG ratio of 1.39 and a beta of 0.93.
Valvoline (NYSE:VVV) last announced its earnings results on Monday, November 5th. The basic materials company reported $0.34 EPS for the quarter, hitting the consensus estimate of $0.34. The business had revenue of $594.00 million during the quarter, compared to the consensus estimate of $593.80 million. Valvoline had a net margin of 7.26% and a negative return on equity of 95.31%. Valvoline’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.33 EPS. On average, sell-side analysts expect that Valvoline will post 1.39 earnings per share for the current year.
Institutional investors have recently modified their holdings of the business. First Hawaiian Bank acquired a new stake in Valvoline in the 3rd quarter worth about $113,000. GSA Capital Partners LLP acquired a new position in shares of Valvoline in the 2nd quarter valued at approximately $245,000. Oakbrook Investments LLC acquired a new position in shares of Valvoline in the 3rd quarter valued at approximately $264,000. Jane Street Group LLC acquired a new position in shares of Valvoline in the 2nd quarter valued at approximately $280,000. Finally, BNP Paribas Arbitrage SA raised its position in shares of Valvoline by 110.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 17,280 shares of the basic materials company’s stock valued at $373,000 after buying an additional 9,079 shares in the last quarter. Institutional investors and hedge funds own 98.45% 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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