Morgan Stanley Cuts Valvoline (NYSE:VVV) Price Target to $42.00

Valvoline (NYSE:VVV) had its price objective trimmed by Morgan Stanley from $46.00 to $42.00 in a report released on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the basic materials company’s stock.

Other equities research analysts have also recently issued research reports about the company. Stephens initiated coverage on Valvoline in a report on Tuesday, October 15th. They set an “overweight” rating and a $49.00 target price on the stock. Robert W. Baird initiated coverage on shares of Valvoline in a research report on Thursday, August 15th. They issued an “outperform” rating and a $48.00 target price for the company. Royal Bank of Canada cut their target price on Valvoline from $54.00 to $48.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Wells Fargo & Company lowered their price objective on Valvoline from $50.00 to $46.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Finally, Baird R W raised shares of Valvoline to a “strong-buy” rating in a report 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 given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $46.25.

Valvoline Stock Performance

Valvoline stock opened at $38.48 on Wednesday. The stock’s 50 day moving average price is $41.43 and its 200 day moving average price is $41.99. The firm has a market capitalization of $4.96 billion, a PE ratio of 23.75 and a beta of 1.46. Valvoline has a one year low of $33.86 and a one 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.

Valvoline declared that its Board of Directors has authorized a share repurchase program on Tuesday, July 30th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the basic materials company to buy up to 7.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Valvoline

A number of institutional investors and hedge funds have recently modified their holdings of the business. UMB Bank n.a. raised its stake in shares of Valvoline by 92.1% in the third 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 last quarter. Blue Trust Inc. raised its position in shares of Valvoline by 57.9% during the 2nd quarter. Blue Trust Inc. now owns 728 shares of the basic materials company’s stock valued at $32,000 after buying an additional 267 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Valvoline in the second quarter worth approximately $34,000. Mather Group LLC. boosted its holdings in Valvoline by 1,617.0% during the 2nd quarter. Mather Group LLC. now owns 807 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 760 shares during the period. Finally, Prospera Private Wealth LLC bought a new stake in Valvoline in the 3rd quarter worth $41,000. 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.