Valvoline (VVV) Lowered to “Underperform” at Bank of America

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Valvoline (NYSE:VVV) was downgraded by investment analysts at Bank of America from a “buy” rating to an “underperform” rating in a report released on Tuesday, The Fly reports. They presently have a $20.00 price objective on the basic materials company’s stock, down from their prior price objective of $24.00. Bank of America’s target price would suggest a potential upside of 6.64% from the stock’s current price.

Several other equities analysts also recently commented on the stock. Zacks Investment Research raised shares of Valvoline from a “sell” rating to a “hold” rating in a report on Thursday, September 6th. JPMorgan Chase & Co. downgraded shares of Valvoline from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $22.00 to $20.00 in a report on Friday, September 14th. ValuEngine downgraded shares of Valvoline from a “hold” rating to a “sell” rating in a report on Thursday, October 11th. Jefferies Financial Group initiated coverage on shares of Valvoline in a report on Wednesday, October 3rd. They issued a “buy” rating and a $27.00 target price on the stock. Finally, Seaport Global Securities raised shares of Valvoline from a “neutral” rating to a “buy” rating in a report on Monday, September 17th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $24.78.

Shares of VVV stock traded down $2.04 during mid-day trading on Tuesday, hitting $18.76. The company had a trading volume of 1,971,272 shares, compared to its average volume of 1,386,583. Valvoline has a 52-week low of $19.08 and a 52-week high of $25.63. The company has a market capitalization of $3.89 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 1.10 and a beta of 0.93.

Valvoline (NYSE:VVV) last released its earnings results on Monday, November 5th. The basic materials company reported $0.34 EPS for the quarter, hitting the consensus estimate of $0.34. Valvoline had a net margin of 10.10% and a negative return on equity of 124.61%. The firm had revenue of $594.00 million for the quarter, compared to the consensus estimate of $593.80 million. During the same quarter in the previous year, the firm earned $0.33 earnings per share. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, equities analysts expect that Valvoline will post 1.29 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in VVV. UBS Group AG raised its stake in Valvoline by 8.0% during the first quarter. UBS Group AG now owns 73,460 shares of the basic materials company’s stock valued at $1,626,000 after purchasing an additional 5,440 shares in the last quarter. Millennium Management LLC raised its stake in Valvoline by 534.1% during the first quarter. Millennium Management LLC now owns 140,237 shares of the basic materials company’s stock valued at $3,103,000 after purchasing an additional 118,120 shares in the last quarter. Legal & General Group Plc raised its stake in Valvoline by 21.0% during the first quarter. Legal & General Group Plc now owns 224,449 shares of the basic materials company’s stock valued at $4,967,000 after purchasing an additional 38,998 shares in the last quarter. Principal Financial Group Inc. raised its stake in Valvoline by 4.4% during the first quarter. Principal Financial Group Inc. now owns 872,327 shares of the basic materials company’s stock valued at $19,305,000 after purchasing an additional 37,049 shares in the last quarter. Finally, Brown Advisory Inc. raised its stake in Valvoline by 23.7% during the first quarter. Brown Advisory Inc. now owns 30,648 shares of the basic materials company’s stock valued at $678,000 after purchasing an additional 5,864 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors.

About Valvoline

Valvoline Inc manufactures and markets engine and automotive maintenance products and services. It operates through three segments: Core North America, Quick Lubes, and International. The company offers lubricants for passenger car/light duty and heavy duty; antifreeze/coolants for original equipment manufacturers; functional and maintenance chemicals, such as brake fluids and power steering fluids, as well as specialty coatings for automotive and industrial applications comprising rust prevention and sound absorption; and oil and air filters for light-duty vehicles.

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