Robert W. Baird Issues Pessimistic Forecast for Valvoline (NYSE:VVV) Stock Price

Valvoline (NYSE:VVV) had its target price cut by Robert W. Baird from $48.00 to $46.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an outperform rating on the basic materials company’s stock.

Several other equities research analysts have also issued reports on the company. Morgan Stanley dropped their price target on Valvoline from $46.00 to $42.00 and set an “overweight” rating for the company in a research note on Wednesday. Baird R W upgraded Valvoline to a “strong-buy” rating in a research note on Thursday, August 15th. Royal Bank of Canada decreased their target price on shares of Valvoline from $54.00 to $48.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Stephens assumed coverage on Valvoline in a research report on Tuesday, October 15th. They issued an “overweight” rating and a $49.00 target price on the stock. Finally, Wells Fargo & Company lowered their target price on shares of Valvoline from $50.00 to $46.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Valvoline currently has an average rating of “Buy” and an average target price of $46.25.

Valvoline Trading Down 0.4 %

Shares of VVV opened at $38.48 on Wednesday. The business’s 50-day moving average price is $41.43 and its 200-day moving average price is $41.99. The company has a quick ratio of 0.62, a current ratio of 0.72 and a debt-to-equity ratio of 5.77. The stock has a market cap of $4.96 billion, a PE ratio of 23.75 and a beta of 1.46. Valvoline has a twelve month low of $33.86 and a twelve month high of $48.26.

Valvoline declared that its board has initiated a share buyback plan on Tuesday, July 30th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the basic materials company to reacquire up to 7.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Valvoline

Hedge funds have recently added to or reduced their stakes in the business. Wasatch Advisors LP increased its stake in Valvoline by 16.8% during the 3rd quarter. Wasatch Advisors LP now owns 9,738,142 shares of the basic materials company’s stock valued at $407,541,000 after buying an additional 1,398,310 shares during the period. State Street Corp raised its holdings in Valvoline by 0.4% during the third quarter. State Street Corp now owns 4,096,436 shares of the basic materials company’s stock worth $171,436,000 after purchasing an additional 16,916 shares in the last quarter. Congress Asset Management Co. raised its holdings in Valvoline by 2.8% during the third quarter. Congress Asset Management Co. now owns 3,656,672 shares of the basic materials company’s stock worth $153,032,000 after purchasing an additional 100,305 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Valvoline by 3.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,720,748 shares of the basic materials company’s stock valued at $117,534,000 after purchasing an additional 94,673 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Valvoline by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,226,769 shares of the basic materials company’s stock worth $93,215,000 after buying an additional 54,545 shares in the last quarter. Institutional investors own 96.13% of the company’s stock.

Valvoline Company Profile

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.