JPMorgan Chase & Co. cut shares of Valvoline (NYSE:VVV) from a neutral rating to an underweight rating in a research note published on Friday, MarketBeat.com reports. JPMorgan Chase & Co. currently has $23.00 price objective on the basic materials company’s stock.
Several other analysts have also issued reports on the company. Wolfe Research assumed coverage on Valvoline in a report on Wednesday, March 7th. They set an outperform rating for the company. Zacks Investment Research lowered Valvoline from a buy rating to a hold rating in a report on Tuesday, February 27th. Morgan Stanley cut their price objective on Valvoline from $28.00 to $27.00 and set an equal weight rating for the company in a report on Friday, February 9th. Longbow Research increased their price objective on Valvoline from $28.00 to $30.00 and gave the stock a buy rating in a report on Thursday, December 21st. Finally, ValuEngine lowered Valvoline from a buy rating to a hold rating in a report on Friday, December 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. The stock has an average rating of Hold and an average price target of $25.86.
Shares of Valvoline stock opened at $22.50 on Friday. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of -5.91. Valvoline has a 1-year low of $20.99 and a 1-year high of $25.63. The stock has a market capitalization of $4,605.52, a price-to-earnings ratio of 20.64, a P/E/G ratio of 1.37 and a beta of 1.03.
Valvoline (NYSE:VVV) last announced its quarterly earnings data on Wednesday, February 7th. The basic materials company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.01. Valvoline had a negative return on equity of 148.14% and a net margin of 10.37%. The business had revenue of $545.00 million during the quarter, compared to analyst estimates of $530.10 million. During the same period last year, the company earned $0.35 earnings per share. Valvoline’s quarterly revenue was up 11.5% compared to the same quarter last year. analysts predict that Valvoline will post 1.35 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st were given a dividend of $0.0745 per share. This represents a $0.30 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend was Wednesday, February 28th. Valvoline’s payout ratio is 27.52%.
A number of institutional investors have recently bought and sold shares of VVV. Crossmark Global Holdings Inc. acquired a new position in Valvoline during the third quarter worth $453,000. New York State Common Retirement Fund increased its position in Valvoline by 11.8% during the third quarter. New York State Common Retirement Fund now owns 553,921 shares of the basic materials company’s stock worth $12,989,000 after buying an additional 58,437 shares during the last quarter. Rhumbline Advisers increased its position in Valvoline by 8.3% during the third quarter. Rhumbline Advisers now owns 421,071 shares of the basic materials company’s stock worth $9,874,000 after buying an additional 32,324 shares during the last quarter. Teacher Retirement System of Texas increased its position in Valvoline by 616.7% during the third quarter. Teacher Retirement System of Texas now owns 117,174 shares of the basic materials company’s stock worth $2,748,000 after buying an additional 100,825 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Valvoline by 1.3% during the third quarter. Bank of New York Mellon Corp now owns 2,317,608 shares of the basic materials company’s stock worth $54,347,000 after buying an additional 29,167 shares during the last quarter. 95.50% of the stock is currently owned by hedge funds and other institutional investors.
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Valvoline Company Profile
Valvoline Inc (Valvoline) is engaged in the production and distribution of automotive, commercial and industrial lubricants, and automotive chemicals. The Company operates through three segments: Core North America, Quick Lubes and International. The Core North America segment sells Valvoline, and other branded and private label products in the United States and Canada to both consumers performing their own automotive maintenance, referred to as Do-It-Yourself (DIY) consumers, as well as, to installer customers using Valvoline products to service vehicles owned by Do-It-For-Me (DIFM) consumers.
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