Valvoline Inc. (VVV) Lowered to “Hold” at Zacks Investment Research
Valvoline Inc. (NYSE:VVV) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.
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. “
A number of other research analysts have also commented on the stock. Deutsche Bank AG reiterated a “hold” rating and issued a $23.00 price target (up previously from $22.00) on shares of Valvoline in a research note on Saturday, June 3rd. Seaport Global Securities upgraded shares of Valvoline from a “neutral” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Wednesday, June 7th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $26.18.
Shares of Valvoline (NYSE:VVV) traded down 0.04% during midday trading on Thursday, hitting $23.12. The stock had a trading volume of 13,067 shares. The company’s 50 day moving average price is $23.05 and its 200-day moving average price is $22.83. Valvoline has a 1-year low of $18.30 and a 1-year high of $24.98. The firm has a market capitalization of $4.73 billion and a PE ratio of 16.75.
Valvoline (NYSE:VVV) last released its quarterly earnings data on Tuesday, April 25th. The basic materials company reported $0.37 earnings per share for the quarter, topping 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. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.33 earnings per share. Equities analysts predict that Valvoline will post $1.39 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, June 1st were paid a $0.049 dividend. The ex-dividend date was Tuesday, May 30th. This represents a $0.20 dividend on an annualized basis and a yield of 0.85%.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Boston Partners bought a new position in shares of Valvoline during the first quarter worth approximately $50,946,000. Vanguard Group Inc. increased its stake in Valvoline by 105.1% in the first quarter. Vanguard Group Inc. now owns 3,793,964 shares of the basic materials company’s stock worth $93,142,000 after buying an additional 1,944,594 shares in the last quarter. Cardinal Capital Management LLC CT increased its stake in Valvoline by 15,260.4% in the fourth quarter. Cardinal Capital Management LLC CT now owns 1,536,043 shares of the basic materials company’s stock worth $33,025,000 after buying an additional 1,526,043 shares in the last quarter. Janus Capital Management LLC increased its stake in Valvoline by 709.7% in the fourth quarter. Janus Capital Management LLC now owns 1,702,242 shares of the basic materials company’s stock worth $36,598,000 after buying an additional 1,492,001 shares in the last quarter. Finally, OZ Management LP acquired a new stake in Valvoline during the third quarter worth about $29,492,000. Institutional investors and hedge funds own 27.11% of the company’s stock.
Valvoline Company Profile
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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