Valvoline Inc. (NYSE:VVV) Stock Position Reduced by Boomfish Wealth Group LLC

Boomfish Wealth Group LLC lessened its stake in Valvoline Inc. (NYSE:VVV) by 5.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 29,713 shares of the basic materials company’s stock after selling 1,659 shares during the quarter. Boomfish Wealth Group LLC’s holdings in Valvoline were worth $1,243,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VVV. Inspire Advisors LLC acquired a new position in shares of Valvoline in the first quarter worth $237,000. Congress Asset Management Co. MA increased its position in Valvoline by 6.5% in the 1st quarter. Congress Asset Management Co. MA now owns 3,499,430 shares of the basic materials company’s stock worth $155,970,000 after purchasing an additional 212,428 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in shares of Valvoline by 28.1% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,062,580 shares of the basic materials company’s stock worth $47,359,000 after purchasing an additional 233,285 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Valvoline by 23.7% during the 1st quarter. Sei Investments Co. now owns 554,416 shares of the basic materials company’s stock valued at $24,710,000 after buying an additional 106,151 shares during the last quarter. Finally, Capstone Investment Advisors LLC acquired a new stake in shares of Valvoline during the 1st quarter valued at about $1,846,000. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Citigroup raised their price objective on shares of Valvoline from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Robert W. Baird began coverage on shares of Valvoline in a report on Thursday, August 15th. They set an “outperform” rating and a $48.00 price target on the stock. Stephens initiated coverage on shares of Valvoline in a report on Tuesday. They issued an “overweight” rating and a $49.00 price objective for the company. 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 report on Thursday, August 8th. Finally, Royal Bank of Canada reduced their price target on Valvoline from $54.00 to $48.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Valvoline currently has a consensus rating of “Moderate Buy” and an average price target of $47.75.

Valvoline Stock Up 1.2 %

VVV stock opened at $41.22 on Tuesday. The company has a debt-to-equity ratio of 10.57, a current ratio of 0.73 and a quick ratio of 0.62. The company has a 50-day moving average of $40.88 and a two-hundred day moving average of $42.14. The stock has a market capitalization of $5.31 billion, a price-to-earnings ratio of 32.71 and a beta of 1.45. Valvoline Inc. has a 52-week low of $29.15 and a 52-week high of $48.26.

Valvoline (NYSE:VVV) last announced its earnings results on Wednesday, August 7th. The basic materials company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.03). The business had revenue of $421.00 million for the quarter, compared to the consensus estimate of $425.17 million. Valvoline had a net margin of 10.45% and a return on equity of 182.88%. Valvoline’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.43 EPS. As a group, equities research analysts anticipate that Valvoline Inc. will post 1.53 EPS for the current year.

Valvoline declared that its Board of Directors has initiated a share buyback program on Tuesday, July 30th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes 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 management believes its stock is undervalued.

Valvoline 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.