Valvoline (NYSE:VVV) Price Target Lowered to $46.00 at Royal Bank of Canada

Valvoline (NYSE:VVV) had its target price reduced by Royal Bank of Canada from $52.00 to $46.00 in a report released on Wednesday,Benzinga reports. They currently have an outperform rating on the basic materials company’s stock.

Other research analysts have also recently issued research reports about the company. Robert W. Baird dropped their price target on Valvoline from $48.00 to $46.00 and set an “outperform” rating on the stock in a report on Wednesday. Morgan Stanley reduced their price target on Valvoline from $46.00 to $42.00 and set an “overweight” rating for the company in a research report on Wednesday. Wells Fargo & Company dropped their price objective on shares of Valvoline from $46.00 to $44.00 and set an “overweight” rating on the stock in a report on Wednesday. Stephens began coverage on shares of Valvoline in a research note on Tuesday, October 15th. They set an “overweight” rating and a $49.00 price target for the company. Finally, Baird R W raised Valvoline to a “strong-buy” rating in a research note on Thursday, August 15th. 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $46.25.

Valvoline Stock Down 0.4 %

Shares of NYSE:VVV opened at $38.48 on Wednesday. The stock has a 50-day simple moving average of $41.43 and a 200-day simple moving average of $41.99. Valvoline has a 1 year low of $33.86 and a 1 year high of $48.26. The company has a debt-to-equity ratio of 5.77, a quick ratio of 0.62 and a current ratio of 0.72. The stock has a market capitalization of $4.96 billion, a P/E ratio of 23.75 and a beta of 1.46.

Valvoline declared that its board has authorized a stock repurchase 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 repurchase up to 7.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Valvoline

A number of institutional investors have recently bought and sold shares of VVV. Blue Trust Inc. raised its stake in Valvoline by 57.9% in the second quarter. Blue Trust Inc. now owns 728 shares of the basic materials company’s stock worth $32,000 after buying an additional 267 shares in the last quarter. MAI Capital Management boosted its holdings in shares of Valvoline by 2.4% in the 3rd quarter. MAI Capital Management now owns 11,624 shares of the basic materials company’s stock valued at $486,000 after acquiring an additional 268 shares during the last quarter. UMB Bank n.a. grew its position in Valvoline by 92.1% during the 3rd quarter. UMB Bank n.a. now owns 630 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 302 shares during the period. State of New Jersey Common Pension Fund D raised its position in Valvoline by 0.7% during the third quarter. State of New Jersey Common Pension Fund D now owns 47,602 shares of the basic materials company’s stock valued at $1,992,000 after acquiring an additional 313 shares in the last quarter. Finally, Evergreen Capital Management LLC increased its holdings in shares of Valvoline by 6.1% during the 2nd quarter. Evergreen Capital Management LLC now owns 6,292 shares of the basic materials company’s stock valued at $272,000 after purchasing an additional 359 shares in the last quarter. Hedge funds and other 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.