Robert W. Baird Has Lowered Expectations for Valvoline (NYSE:VVV) Stock Price

Valvoline (NYSE:VVV) had its price target trimmed by Robert W. Baird from $48.00 to $46.00 in a report published on Wednesday,Benzinga reports. The firm currently has an outperform rating on the basic materials company’s stock.

Other equities analysts have also issued research reports about the company. Stephens initiated coverage on Valvoline in a research report on Tuesday, October 15th. They issued an “overweight” rating and a $49.00 price target for the company. Royal Bank of Canada dropped their target price on shares of Valvoline from $54.00 to $48.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Company reduced their price target on shares of Valvoline from $50.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Morgan Stanley lowered their price objective on Valvoline from $46.00 to $42.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Baird R W raised Valvoline to a “strong-buy” rating in a report on Thursday, August 15th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $46.25.

Valvoline Stock Up 0.0 %

Shares of NYSE:VVV opened at $38.57 on Wednesday. Valvoline has a 12-month low of $33.86 and a 12-month high of $48.26. The stock has a market capitalization of $4.97 billion, a price-to-earnings ratio of 23.81 and a beta of 1.46. The stock has a fifty day simple moving average of $41.33 and a two-hundred day simple moving average of $41.91. The company has a current ratio of 0.72, a quick ratio of 0.62 and a debt-to-equity ratio of 5.77.

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

Hedge Funds Weigh In On Valvoline

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wasatch Advisors LP grew its holdings in shares of Valvoline by 16.8% in the third quarter. Wasatch Advisors LP now owns 9,738,142 shares of the basic materials company’s stock worth $407,541,000 after acquiring an additional 1,398,310 shares during the period. State Street Corp lifted its holdings in Valvoline by 0.4% in the third quarter. State Street Corp now owns 4,096,436 shares of the basic materials company’s stock valued at $171,436,000 after acquiring an additional 16,916 shares during the period. Congress Asset Management Co. boosted its position in 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 worth $153,032,000 after purchasing an additional 100,305 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Valvoline by 3.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,720,748 shares of the basic materials company’s stock valued at $117,534,000 after purchasing an additional 94,673 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Valvoline by 2.5% during the 3rd 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.

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.