Valvoline (NYSE:VVV) Price Target Lowered to $44.00 at Wells Fargo & Company

Valvoline (NYSE:VVV) had its target price cut by Wells Fargo & Company from $46.00 to $44.00 in a report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the basic materials company’s stock.

A number of other equities analysts also recently issued reports on the company. Baird R W raised Valvoline to a “strong-buy” rating in a research report on Thursday, August 15th. Morgan Stanley reduced their target price on Valvoline from $46.00 to $42.00 and set an “overweight” rating on the stock in a research report on Wednesday. Royal Bank of Canada decreased their price target on Valvoline from $54.00 to $48.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Stephens began coverage on Valvoline in a research note on Tuesday, October 15th. They set an “overweight” rating and a $49.00 price target on the stock. Finally, Robert W. Baird decreased their price objective on shares of Valvoline from $48.00 to $46.00 and set an “outperform” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Valvoline presently has an average rating of “Buy” and an average price target of $46.25.

Valvoline Price Performance

VVV opened at $38.57 on Wednesday. The firm has a market capitalization of $4.97 billion, a PE ratio of 23.81 and a beta of 1.46. 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’s 50-day moving average is $41.33 and its two-hundred day moving average is $41.89. Valvoline has a 1 year low of $33.86 and a 1 year high of $48.26.

Valvoline announced that its Board of Directors has approved a share repurchase program 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 stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Valvoline

A number of hedge funds and other institutional investors have recently made changes to their positions in VVV. Wasatch Advisors LP grew its position in shares of Valvoline by 16.8% during the 3rd quarter. Wasatch Advisors LP now owns 9,738,142 shares of the basic materials company’s stock valued at $407,541,000 after acquiring an additional 1,398,310 shares during the period. State Street Corp grew 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 purchasing an additional 16,916 shares during the period. Congress Asset Management Co. increased its position 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 buying an additional 100,305 shares in the last quarter. Dimensional Fund Advisors LP raised 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 worth $117,534,000 after buying an additional 94,673 shares during the period. Finally, Geode Capital Management LLC lifted 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 buying an additional 54,545 shares in the last quarter. Institutional investors and hedge funds 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.