Valvoline (NYSE:VVV) Shares Gap Up After Analyst Upgrade

Valvoline Inc (NYSE:VVV)’s share price gapped up prior to trading on Friday after Citigroup raised their price target on the stock from $21.00 to $25.00. The stock had previously closed at $22.34, but opened at $21.65. Citigroup currently has a buy rating on the stock. Valvoline shares last traded at $21.66, with a volume of 40,792 shares traded.

A number of other brokerages also recently issued reports on VVV. Morgan Stanley set a $19.00 price objective on shares of Valvoline and gave the stock a “hold” rating in a research report on Thursday, May 2nd. Buckingham Research raised shares of Valvoline from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $18.00 to $24.00 in a research report on Monday, July 1st. Zacks Investment Research upgraded shares of Valvoline from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Friday, July 19th. Finally, Monness Crespi & Hardt reiterated a “buy” rating and issued a $24.00 target price (down from $26.00) on shares of Valvoline in a research note on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $22.89.

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Valvoline by 1.0% in the 1st quarter. BlackRock Inc. now owns 16,937,413 shares of the basic materials company’s stock worth $314,358,000 after purchasing an additional 174,796 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Valvoline by 0.4% during the 1st quarter. JPMorgan Chase & Co. now owns 5,908,137 shares of the basic materials company’s stock valued at $109,655,000 after acquiring an additional 23,703 shares during the period. Champlain Investment Partners LLC lifted its stake in Valvoline by 3.1% during the 1st quarter. Champlain Investment Partners LLC now owns 4,097,605 shares of the basic materials company’s stock valued at $76,052,000 after acquiring an additional 123,035 shares during the period. Wasatch Advisors Inc. lifted its stake in Valvoline by 467.4% during the 1st quarter. Wasatch Advisors Inc. now owns 3,475,951 shares of the basic materials company’s stock valued at $64,514,000 after acquiring an additional 2,863,305 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Valvoline by 14.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,211,421 shares of the basic materials company’s stock valued at $62,140,000 after acquiring an additional 403,084 shares during the period. Institutional investors own 96.98% of the company’s stock.

The stock’s 50 day moving average is $19.93. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of 16.84, a price-to-earnings-growth ratio of 1.69 and a beta of 0.99.

Valvoline (NYSE:VVV) last announced its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.33 by $0.04. Valvoline had a net margin of 9.70% and a negative return on equity of 76.15%. The business had revenue of $613.00 million during the quarter, compared to analysts’ expectations of $610.42 million. During the same period in the previous year, the business posted $0.32 EPS. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. Equities research analysts forecast that Valvoline Inc will post 1.31 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.106 per share. This represents a $0.42 annualized dividend and a yield of 1.95%. The ex-dividend date is Thursday, August 29th. Valvoline’s payout ratio is 32.56%.

About Valvoline (NYSE:VVV)

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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