Royal Bank of Canada Issues Pessimistic Forecast for Valvoline (NYSE:VVV) Stock Price

Valvoline (NYSE:VVV) had its target price lowered by equities researchers at Royal Bank of Canada from $52.00 to $46.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the basic materials company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 17.98% from the stock’s current price.

Other analysts have also issued reports about the company. Wells Fargo & Company reduced their target price on Valvoline from $46.00 to $44.00 and set an “overweight” rating on the stock in a report on Wednesday. Robert W. Baird reduced their target price on Valvoline from $48.00 to $46.00 and set an “outperform” rating on the stock in a report on Wednesday. Stephens began coverage on Valvoline in a report on Tuesday, October 15th. They set an “overweight” rating and a $49.00 target price on the stock. Morgan Stanley reduced their price objective on Valvoline from $46.00 to $42.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Baird R W raised Valvoline to a “strong-buy” rating in a research note on Thursday, August 15th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $46.75.

Valvoline Stock Performance

NYSE VVV traded up $0.34 on Wednesday, reaching $38.99. The stock had a trading volume of 338,293 shares, compared to its average volume of 1,187,643. The company has a market cap of $5.02 billion, a P/E ratio of 31.70 and a beta of 1.46. Valvoline has a 1-year low of $33.86 and a 1-year high of $48.26. The company has a debt-to-equity ratio of 10.57, a current ratio of 0.73 and a quick ratio of 0.62. The firm has a fifty day moving average of $41.43 and a two-hundred day moving average of $41.99.

Valvoline declared that its board has approved a stock repurchase plan on Tuesday, July 30th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the basic materials company to repurchase up to 7.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Valvoline

Large investors have recently bought and sold shares of the company. UMB Bank n.a. raised its position in Valvoline by 92.1% in the third quarter. UMB Bank n.a. now owns 630 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 302 shares during the last quarter. Blue Trust Inc. raised its position in Valvoline by 57.9% in the second quarter. Blue Trust Inc. now owns 728 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 267 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Valvoline in the second quarter valued at about $34,000. Mather Group LLC. raised its position in Valvoline by 1,617.0% in 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 during the last quarter. Finally, Prospera Private Wealth LLC bought a new position in Valvoline in the third quarter valued at about $41,000. 96.13% of the stock is currently owned by institutional investors.

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.