Valvoline (NYSE:VVV) Price Target Cut to $46.00 by Analysts at Royal Bank of Canada

Valvoline (NYSE:VVV) had its price objective reduced by Royal Bank of Canada from $52.00 to $46.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have an outperform rating on the basic materials company’s stock.

Other research analysts also recently issued reports about the company. Robert W. Baird cut their price target on Valvoline from $48.00 to $46.00 and set an “outperform” rating on the stock in a report on Wednesday. Morgan Stanley cut their price target on Valvoline from $46.00 to $42.00 and set an “overweight” rating on the stock in a report on Wednesday. Baird R W upgraded Valvoline to a “strong-buy” rating in a report on Thursday, August 15th. Wells Fargo & Company cut their price target on Valvoline from $46.00 to $44.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Stephens assumed coverage on Valvoline in a research note on Tuesday, October 15th. They set an “overweight” rating and a $49.00 target price on the stock. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $46.25.

Valvoline Trading Up 0.0 %

Shares of NYSE VVV opened at $38.57 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 0.72 and a debt-to-equity ratio of 5.77. The business has a fifty day simple moving average of $41.33 and a two-hundred day simple moving average of $41.89. The firm has a market cap of $4.97 billion, a PE ratio of 23.81 and a beta of 1.46. Valvoline has a twelve month low of $33.86 and a twelve month high of $48.26.

Valvoline announced that its Board of Directors has approved a stock repurchase program on Tuesday, July 30th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the basic materials company to buy up to 7.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Valvoline

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UMB Bank n.a. raised its holdings 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 valued at $26,000 after acquiring an additional 302 shares during the last quarter. Blue Trust Inc. lifted its holdings in Valvoline by 57.9% in the 2nd 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 in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Valvoline during the 2nd quarter worth $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 last quarter. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Valvoline during the third quarter worth $41,000. 96.13% of the stock is owned by hedge funds and other institutional investors.

About Valvoline

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.