Valvoline Inc. (VVV) Upgraded to “Buy” at Zacks Investment Research
Valvoline Inc. (NYSE:VVV) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The brokerage currently has a $26.00 target price on the basic materials company’s stock. Zacks Investment Research‘s price target points to a potential upside of 11.30% from the company’s current price.
According to Zacks, “Valvoline Inc. is a producer and distributor of premium-branded automotive, commercial and industrial lubricants as well as automotive chemicals. The company’s brand and franchises consists of Valvoline Instant Oil Change(SM), Valvoline lubricants and automotive chemicals (TM), MaxLife lubricants (TM), SynPower(TM) and Zerex(TM) antifreeze. Valvoline Inc. is based in Lexington, United States. “
Several other equities analysts also recently issued reports on VVV. Deutsche Bank AG reissued a “hold” rating and set a $23.00 price target (up previously from $22.00) on shares of Valvoline in a report on Saturday, June 3rd. Seaport Global Securities raised shares of Valvoline from a “neutral” rating to a “buy” rating and set a $26.00 price target for the company in a report on Wednesday, June 7th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $26.09.
Shares of Valvoline (NYSE:VVV) traded down 0.60% during trading on Wednesday, reaching $23.22. 235,533 shares of the company’s stock were exchanged. The company’s 50-day moving average is $22.88 and its 200 day moving average is $22.68. The stock has a market capitalization of $4.75 billion and a PE ratio of 16.83. Valvoline has a 52 week low of $18.30 and a 52 week high of $24.98.
Valvoline (NYSE:VVV) last announced its quarterly earnings results on Tuesday, April 25th. The basic materials company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.03. The firm had revenue of $514 million for the quarter, compared to analyst estimates of $501.04 million. During the same period last year, the firm posted $0.33 EPS. The business’s revenue was up 7.1% compared to the same quarter last year. On average, analysts forecast that Valvoline will post $1.39 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st were issued a dividend of $0.049 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend was Tuesday, May 30th.
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Institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. increased its position in shares of Valvoline by 630.1% in the first quarter. Pacer Advisors Inc. now owns 5,571 shares of the basic materials company’s stock valued at $137,000 after buying an additional 4,808 shares during the period. Legal & General Group Plc increased its position in shares of Valvoline by 1,210.5% in the first quarter. Legal & General Group Plc now owns 8,204 shares of the basic materials company’s stock valued at $201,000 after buying an additional 7,578 shares during the period. M&T Bank Corp purchased a new position in shares of Valvoline during the first quarter valued at about $203,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Valvoline during the first quarter valued at about $218,000. Finally, Westwood Holdings Group Inc. increased its position in shares of Valvoline by 118.8% in the fourth quarter. Westwood Holdings Group Inc. now owns 9,190 shares of the basic materials company’s stock valued at $198,000 after buying an additional 4,990 shares during the period. 27.11% of the stock is owned by institutional investors.
Valvoline Inc (Valvoline) is engaged in the production and distribution of automotive, commercial and industrial lubricants, and automotive chemicals. The Company operates through three segments: Core North America, Quick Lubes and International. The Core North America segment sells Valvoline, and other branded and private label products in the United States and Canada to both consumers performing their own automotive maintenance, referred to as Do-It-Yourself (DIY) consumers, as well as, to installer customers using Valvoline products to service vehicles owned by Do-It-For-Me (DIFM) consumers.
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