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

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

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

Valvoline Stock Performance

VVV opened at $38.57 on Wednesday. The company has a debt-to-equity ratio of 5.77, a current ratio of 0.72 and a quick ratio of 0.62. The business has a fifty day simple moving average of $41.33 and a 200 day simple moving average of $41.89. Valvoline has a 1 year low of $33.86 and a 1 year high of $48.26. The company has a market capitalization of $4.97 billion, a PE ratio of 23.81 and a beta of 1.46.

Valvoline announced that its board has authorized a share repurchase 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 an indication that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of VVV. Wasatch Advisors LP boosted its position 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 period. State Street Corp raised its stake in shares of Valvoline by 0.4% during 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 last quarter. Congress Asset Management Co. lifted its holdings in shares of Valvoline by 2.8% during 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 period. Dimensional Fund Advisors LP grew its stake in shares of Valvoline by 3.6% in 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 stake in shares of Valvoline by 2.5% in the third quarter. Geode Capital Management LLC now owns 2,226,769 shares of the basic materials company’s stock worth $93,215,000 after purchasing an additional 54,545 shares during the last quarter. 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.