Wells Fargo & Company Has Lowered Expectations for Valvoline (NYSE:VVV) Stock Price

Valvoline (NYSE:VVV) had its price target decreased by equities researchers at Wells Fargo & Company from $46.00 to $44.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the basic materials company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 14.11% from the company’s current price.

Several other analysts have also recently issued reports on VVV. Morgan Stanley cut their price target on shares of Valvoline from $46.00 to $42.00 and set an “overweight” rating on the stock in a report on Wednesday. Stephens initiated coverage on shares of Valvoline in a research report on Tuesday, October 15th. They set an “overweight” rating and a $49.00 price target on the stock. Robert W. Baird lowered their price objective on Valvoline from $48.00 to $46.00 and set an “outperform” rating for the company in a report on Wednesday. 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 research note on Thursday, August 8th. Finally, Baird R W upgraded Valvoline to a “strong-buy” rating in a research report on Thursday, August 15th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $46.25.

Valvoline Price Performance

VVV stock opened at $38.56 on Wednesday. The stock’s 50 day moving average is $41.38 and its two-hundred day moving average is $41.94. Valvoline has a 52-week low of $33.86 and a 52-week high of $48.26. The company has a market capitalization of $4.97 billion, a PE ratio of 23.80 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 announced that its Board of Directors has authorized a share repurchase program on Tuesday, July 30th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to purchase up to 7.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UMB Bank n.a. boosted its stake in Valvoline by 92.1% during the 3rd 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 period. Blue Trust Inc. boosted its position in shares of 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 during the period. Ashton Thomas Private Wealth LLC bought a new position in Valvoline in the 2nd quarter worth approximately $34,000. Mather Group LLC. increased its position in Valvoline by 1,617.0% in the 2nd quarter. Mather Group LLC. now owns 807 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 760 shares during the period. Finally, Prospera Private Wealth LLC bought a new stake in Valvoline during the 3rd quarter valued at $41,000. Institutional investors and hedge funds 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.