J P Morgan Chase & Co Reaffirms Neutral Rating for Valvoline Inc. (VVV)
Valvoline Inc. (NYSE:VVV)‘s stock had its “neutral” rating reiterated by research analysts at J P Morgan Chase & Co in a report released on Wednesday. They presently have a $22.00 price objective on the basic materials company’s stock, up from their previous price objective of $20.00. J P Morgan Chase & Co’s target price would indicate a potential downside of 1.43% from the company’s current price.
Several other equities research analysts also recently weighed in on VVV. Zacks Investment Research downgraded shares of Valvoline from a “hold” rating to a “sell” rating in a research report on Saturday. 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 research report on Wednesday, June 7th. Finally, 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 research report on Saturday, June 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $25.83.
Shares of Valvoline (VVV) traded up 0.04% during trading on Wednesday, hitting $22.32. The stock had a trading volume of 1,123,424 shares. The stock has a 50 day moving average of $23.25 and a 200 day moving average of $23.10. The firm has a market cap of $4.55 billion and a PE ratio of 19.54. 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, August 1st. The basic materials company reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by $0.01. The firm had revenue of $534 million for the quarter, compared to the consensus estimate of $530.57 million. Valvoline had a net margin of 13.00% and a negative return on equity of 106.06%. Valvoline’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, equities analysts anticipate that Valvoline will post $1.38 EPS for the current year.
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A number of large investors have recently modified their holdings of VVV. Ameriprise Financial Inc. bought a new stake in shares of Valvoline during the third quarter valued at about $19,494,000. JBF Capital Inc. bought a new stake in shares of Valvoline during the third quarter valued at about $512,000. Locust Wood Capital Advisers LLC bought a new stake in shares of Valvoline during the third quarter valued at about $11,361,000. Monashee Investment Management LLC bought a new stake in shares of Valvoline during the third quarter valued at about $2,349,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of Valvoline during the third quarter valued at about $8,693,000. Institutional investors own 28.34% 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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