Royal Bank of Canada Issues Pessimistic Forecast for Valvoline (NYSE:VVV) Stock Price

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

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

Valvoline Trading Down 0.4 %

NYSE VVV opened at $38.48 on Wednesday. The company has a 50-day moving average of $41.43 and a 200-day moving average of $41.99. The company has a debt-to-equity ratio of 5.77, a current ratio of 0.72 and a quick ratio of 0.62. Valvoline has a 12 month low of $33.86 and a 12 month high of $48.26. The company has a market cap of $4.96 billion, a P/E ratio of 23.75 and a beta of 1.46.

Valvoline announced that its board has approved a stock repurchase plan on Tuesday, July 30th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the basic materials company to reacquire up to 7.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Valvoline

Institutional investors have recently modified their holdings of the company. Wasatch Advisors LP grew 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 worth $407,541,000 after buying an additional 1,398,310 shares during the last quarter. State Street Corp increased its stake 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 acquiring an additional 16,916 shares during the last quarter. Congress Asset Management Co. boosted its stake in shares of Valvoline by 2.8% in the third quarter. Congress Asset Management Co. now owns 3,656,672 shares of the basic materials company’s stock valued at $153,032,000 after purchasing an additional 100,305 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Valvoline by 3.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,720,748 shares of the basic materials company’s stock worth $117,534,000 after purchasing an additional 94,673 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Valvoline by 2.5% during the third quarter. Geode Capital Management LLC now owns 2,226,769 shares of the basic materials company’s stock valued at $93,215,000 after purchasing an additional 54,545 shares during the last quarter. 96.13% of the stock is owned by institutional investors and hedge funds.

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.