Valvoline (NYSE:VVV) Given New $42.00 Price Target at Morgan Stanley

Valvoline (NYSE:VVV) had its price target decreased by Morgan Stanley from $46.00 to $42.00 in a report issued on Wednesday,Benzinga reports. Morgan Stanley currently has an overweight rating on the basic materials company’s stock.

VVV has been the subject of a number of other reports. Baird R W upgraded Valvoline to a “strong-buy” rating in a research report on Thursday, August 15th. Royal Bank of Canada cut their price objective on Valvoline from $54.00 to $48.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Stephens assumed coverage on shares of Valvoline in a report on Tuesday, October 15th. They set an “overweight” rating and a $49.00 target price for the company. Wells Fargo & Company cut their target price on Valvoline from $50.00 to $46.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Finally, Robert W. Baird started coverage on Valvoline in a report on Thursday, August 15th. They issued an “outperform” rating and a $48.00 price objective for the company. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $46.25.

Valvoline Price Performance

VVV stock opened at $38.48 on Wednesday. The stock’s 50 day moving average is $41.43 and its two-hundred day moving average is $41.99. Valvoline has a 52-week low of $33.86 and a 52-week high of $48.26. The company has a market capitalization of $4.96 billion, a PE ratio of 23.75 and a beta of 1.46. The company has a quick ratio of 0.62, a current ratio of 0.72 and a debt-to-equity ratio of 5.77.

Valvoline declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, July 30th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the basic materials company to buy up to 7.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Valvoline

Hedge funds have recently made changes to their positions in the stock. UMB Bank n.a. increased its position in shares of Valvoline by 92.1% during the third quarter. UMB Bank n.a. now owns 630 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 302 shares during the period. Blue Trust Inc. raised its holdings 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 purchasing an additional 267 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Valvoline in the 2nd quarter valued at about $34,000. Mather Group LLC. boosted its stake in Valvoline by 1,617.0% during the 2nd quarter. Mather Group LLC. now owns 807 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 760 shares during the period. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Valvoline in the third quarter valued at about $41,000. Hedge funds and other institutional investors 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.