Piper Sandler Initiates Coverage on Valvoline (NYSE:VVV)

Equities researchers at Piper Sandler started coverage on shares of Valvoline (NYSE:VVVGet Free Report) in a research note issued on Wednesday, Marketbeat reports. The brokerage set an “overweight” rating and a $49.00 price target on the basic materials company’s stock. Piper Sandler’s price objective suggests a potential upside of 18.16% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Mizuho assumed coverage on Valvoline in a research note on Tuesday, March 19th. They issued a “buy” rating and a $50.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $48.00 price objective on shares of Valvoline in a report on Friday, June 7th. Finally, Citigroup raised their target price on shares of Valvoline from $36.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 13th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.78.

Check Out Our Latest Report on VVV

Valvoline Price Performance

Shares of VVV opened at $41.47 on Wednesday. The company has a current ratio of 0.73, a quick ratio of 0.69 and a debt-to-equity ratio of 15.83. The company’s fifty day simple moving average is $41.79 and its 200 day simple moving average is $40.00. Valvoline has a 1-year low of $29.15 and a 1-year high of $45.37. The company has a market cap of $5.34 billion, a price-to-earnings ratio of 32.91 and a beta of 1.44.

Valvoline (NYSE:VVVGet Free Report) last released its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.01. Valvoline had a net margin of 11.78% and a return on equity of 136.59%. The company had revenue of $388.70 million for the quarter, compared to analyst estimates of $390.75 million. During the same period in the previous year, the business earned $0.23 EPS. Valvoline’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, research analysts forecast that Valvoline will post 1.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Valvoline

A number of hedge funds have recently bought and sold shares of VVV. Fifth Third Bancorp grew its position in shares of Valvoline by 20.3% during the 4th quarter. Fifth Third Bancorp now owns 1,876 shares of the basic materials company’s stock worth $70,000 after purchasing an additional 316 shares in the last quarter. Quadrant Capital Group LLC grew its position in Valvoline by 23.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,940 shares of the basic materials company’s stock worth $73,000 after buying an additional 364 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Valvoline by 6.1% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 7,045 shares of the basic materials company’s stock worth $265,000 after acquiring an additional 403 shares during the period. Allworth Financial LP raised its holdings in Valvoline by 10.0% in the 4th quarter. Allworth Financial LP now owns 4,889 shares of the basic materials company’s stock valued at $184,000 after acquiring an additional 444 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its position in shares of Valvoline by 10.6% during the 1st quarter. Park Avenue Securities LLC now owns 6,478 shares of the basic materials company’s stock valued at $289,000 after acquiring an additional 621 shares during the period. 96.13% of the stock is owned by institutional investors.

About Valvoline

(Get Free Report)

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.

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Analyst Recommendations for Valvoline (NYSE:VVV)

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