Wells Fargo & Company Cuts Valvoline (NYSE:VVV) Price Target to $46.00

Valvoline (NYSE:VVV) had its price objective decreased by Wells Fargo & Company from $50.00 to $46.00 in a research report report published on Thursday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the basic materials company’s stock.

Several other brokerages have also issued reports on VVV. Piper Sandler assumed coverage on Valvoline in a report on Wednesday, June 12th. They set an overweight rating and a $49.00 price objective for the company. Royal Bank of Canada restated an outperform rating and set a $48.00 target price on shares of Valvoline in a report on Friday, June 7th. Finally, Citigroup raised their target price on Valvoline from $45.00 to $48.00 and gave the company a neutral rating in a report on Friday, July 19th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $46.00.

Valvoline Stock Performance

Shares of Valvoline stock opened at $39.87 on Thursday. The company has a quick ratio of 0.69, a current ratio of 0.73 and a debt-to-equity ratio of 15.83. Valvoline has a 12 month low of $29.15 and a 12 month high of $48.26. The business has a fifty day simple moving average of $43.26 and a 200-day simple moving average of $42.26. The stock has a market cap of $5.14 billion, a PE ratio of 31.64 and a beta of 1.43.

Valvoline (NYSE:VVV) last announced its quarterly earnings data on Wednesday, August 7th. The basic materials company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.03). Valvoline had a return on equity of 136.59% and a net margin of 11.78%. The firm had revenue of $421.00 million for the quarter, compared to analysts’ expectations of $425.17 million. During the same quarter in the prior year, the business posted $0.43 earnings per share. Valvoline’s revenue was up 11.9% on a year-over-year basis. On average, sell-side analysts anticipate that Valvoline will post 1.61 EPS for the current fiscal year.

Institutional Investors Weigh In On Valvoline

A number of institutional investors have recently added to or reduced their stakes in VVV. Blue Trust Inc. grew its position in Valvoline by 57.9% during the second quarter. Blue Trust Inc. now owns 728 shares of the basic materials company’s stock worth $32,000 after buying an additional 267 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Valvoline during the second quarter worth about $34,000. GAMMA Investing LLC acquired a new stake in Valvoline during the fourth quarter worth about $35,000. Mather Group LLC. boosted its holdings in Valvoline by 1,617.0% during the second quarter. Mather Group LLC. now owns 807 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 760 shares in the last quarter. Finally, Principal Securities Inc. acquired a new stake in Valvoline during the fourth quarter valued at approximately $39,000. 96.13% of the stock is owned by institutional investors and hedge funds.

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.