Valvoline (VVV) Downgraded by Wolfe Research

Valvoline (NYSE:VVV) was downgraded by equities researchers at Wolfe Research from an “outperform” rating to a “market perform” rating in a report issued on Wednesday, The Fly reports.

Other research analysts also recently issued reports about the company. Jefferies Financial Group initiated coverage on Valvoline in a report on Wednesday, October 3rd. They set a “buy” rating and a $27.00 target price on the stock. Seaport Global Securities raised Valvoline from a “neutral” rating to a “buy” rating in a report on Monday, September 17th. Monness Crespi & Hardt cut their target price on Valvoline from $28.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, August 3rd. Morgan Stanley cut their target price on Valvoline from $25.00 to $23.00 and set an “equal weight” rating on the stock in a report on Thursday, August 2nd. Finally, ValuEngine raised Valvoline from a “sell” rating to a “hold” rating in a report on Tuesday, July 10th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $24.50.

Shares of VVV opened at $20.76 on Wednesday. The stock has a market cap of $3.63 billion, a price-to-earnings ratio of 16.09, a P/E/G ratio of 1.09 and a beta of 0.93. Valvoline has a 12 month low of $17.49 and a 12 month high of $25.63.

Valvoline (NYSE:VVV) last announced its earnings results on Monday, November 5th. The basic materials company reported $0.34 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.34. The firm had revenue of $594.00 million for the quarter, compared to the consensus estimate of $593.80 million. Valvoline had a negative return on equity of 95.31% and a net margin of 7.26%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.33 EPS. Equities analysts anticipate that Valvoline will post 1.39 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of the stock. Deprince Race & Zollo Inc. bought a new stake in Valvoline during the 2nd quarter worth approximately $22,624,000. Bank of Montreal Can increased its holdings in Valvoline by 14.4% during the 2nd quarter. Bank of Montreal Can now owns 33,686 shares of the basic materials company’s stock worth $726,000 after purchasing an additional 4,235 shares in the last quarter. Brown Advisory Inc. increased its holdings in Valvoline by 66.0% during the 2nd quarter. Brown Advisory Inc. now owns 50,890 shares of the basic materials company’s stock worth $1,098,000 after purchasing an additional 20,242 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Valvoline by 24.7% during the 2nd quarter. Janus Henderson Group PLC now owns 7,330,130 shares of the basic materials company’s stock worth $158,111,000 after purchasing an additional 1,450,594 shares in the last quarter. Finally, Mutual of America Capital Management LLC increased its holdings in Valvoline by 2.5% during the 2nd quarter. Mutual of America Capital Management LLC now owns 168,406 shares of the basic materials company’s stock worth $3,633,000 after purchasing an additional 4,044 shares in the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Valvoline Company Profile

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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