Mizuho Cuts Valvoline (NYSE:VVV) Price Target to $46.00

Valvoline (NYSE:VVV) had its price target decreased by Mizuho from $50.00 to $46.00 in a research note released on Wednesday,Benzinga reports. Mizuho currently has an outperform rating on the basic materials company’s stock.

VVV has been the subject of several other research reports. Stephens initiated coverage on shares of Valvoline in a report on Tuesday, October 15th. They issued an “overweight” rating and a $49.00 price target for the company. Royal Bank of Canada reduced their target price on shares of Valvoline from $52.00 to $46.00 and set an “outperform” rating for the company in a research note on Wednesday. Baird R W raised Valvoline to a “strong-buy” rating in a research note on Thursday, August 15th. 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, Wells Fargo & Company decreased their price objective on Valvoline from $46.00 to $44.00 and set an “overweight” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $46.25.

Valvoline Price Performance

Shares of VVV opened at $38.57 on Wednesday. The stock has a 50 day simple moving average of $41.33 and a 200 day simple moving average of $41.91. Valvoline has a 52-week low of $33.86 and a 52-week high of $48.26. The company has a debt-to-equity ratio of 5.77, a quick ratio of 0.62 and a current ratio of 0.72. The firm 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 initiated a share repurchase plan on Tuesday, July 30th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the basic materials company to buy 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 Trading of Valvoline

Several institutional investors and hedge funds have recently bought and sold shares of the stock. UMB Bank n.a. grew its stake in Valvoline by 92.1% in the third quarter. UMB Bank n.a. now owns 630 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 302 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Valvoline by 57.9% in the 2nd quarter. Blue Trust Inc. now owns 728 shares of the basic materials company’s stock valued at $32,000 after buying an additional 267 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Valvoline in the 2nd quarter valued at approximately $34,000. Mather Group LLC. grew its stake in shares of Valvoline by 1,617.0% in the second quarter. Mather Group LLC. now owns 807 shares of the basic materials company’s stock valued at $36,000 after buying an additional 760 shares in the last quarter. Finally, Prospera Private Wealth LLC acquired a new position in Valvoline during the third quarter worth $41,000. Institutional investors own 96.13% of the company’s stock.

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.