Piper Sandler Reiterates “Overweight” Rating for Valvoline (NYSE:VVV)

Valvoline (NYSE:VVV)‘s stock had its “overweight” rating reissued by equities researchers at Piper Sandler in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $44.00 price target on the basic materials company’s stock, down from their previous price target of $45.00. Piper Sandler’s price target would suggest a potential upside of 33.33% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Morgan Stanley reiterated an “equal weight” rating and issued a $38.00 target price (down from $42.00) on shares of Valvoline in a research report on Tuesday, January 21st. TD Cowen initiated coverage on Valvoline in a research report on Friday, April 4th. They set a “buy” rating and a $40.00 target price for the company. Wells Fargo & Company cut their target price on shares of Valvoline from $44.00 to $42.00 and set an “overweight” rating for the company in a report on Monday, April 28th. Citigroup decreased their price target on shares of Valvoline from $41.00 to $38.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 29th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Valvoline from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Valvoline has a consensus rating of “Moderate Buy” and an average price target of $42.33.

Valvoline Stock Down 2.7 %

NYSE VVV opened at $33.00 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.58 and a debt-to-equity ratio of 4.39. Valvoline has a 12 month low of $31.02 and a 12 month high of $48.27. The stock’s 50 day moving average is $34.42 and its 200 day moving average is $36.97. The stock has a market cap of $4.19 billion, a PE ratio of 15.79 and a beta of 1.20.

Valvoline (NYSE:VVV) last issued its earnings results on Thursday, May 8th. The basic materials company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The company had revenue of $403.20 million for the quarter, compared to the consensus estimate of $405.38 million. Valvoline had a return on equity of 143.64% and a net margin of 16.34%. Valvoline’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.37 EPS. Research analysts predict that Valvoline will post 1.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other Valvoline news, insider Julie Marie O’daniel sold 6,000 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $37.41, for a total value of $224,460.00. Following the sale, the insider now owns 15,305 shares in the company, valued at $572,560.05. This trade represents a 28.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.66% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Cetera Investment Advisers boosted its position in Valvoline by 1.3% in the 4th quarter. Cetera Investment Advisers now owns 21,425 shares of the basic materials company’s stock valued at $775,000 after buying an additional 277 shares during the period. Arizona State Retirement System boosted its holdings in shares of Valvoline by 0.8% in the fourth quarter. Arizona State Retirement System now owns 35,530 shares of the basic materials company’s stock valued at $1,285,000 after purchasing an additional 281 shares during the period. Advisory Research Inc. grew its stake in Valvoline by 0.7% in the fourth quarter. Advisory Research Inc. now owns 41,045 shares of the basic materials company’s stock worth $1,485,000 after purchasing an additional 295 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Valvoline by 10.9% during the 4th quarter. Farther Finance Advisors LLC now owns 3,548 shares of the basic materials company’s stock worth $128,000 after purchasing an additional 349 shares during the period. Finally, Treasurer of the State of North Carolina raised its position in Valvoline by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 56,792 shares of the basic materials company’s stock valued at $2,055,000 after purchasing an additional 360 shares in the last quarter. 96.13% of the stock is currently owned by institutional investors.

About Valvoline

Valvoline Inc engages in the operation and franchising of vehicle service centers and retail stores in the United States and Canada. The company, through its service centers, provides fluid exchange for motor oil, transmission and differential fluid, and coolant; parts replacement for batteries, filters, wiper blades, and belts; and safety services, such as tire inflation and rotation, bulbs, and safety checks.