Bank of America Corp. Initiates Coverage on Valvoline (VVV)

Analysts at Bank of America Corp. started coverage on shares of Valvoline (NYSE:VVV) in a note issued to investors on Tuesday. The firm set a “buy” rating on the stock.

Several other equities analysts also recently commented on VVV. Goldman Sachs Group Inc. began coverage on shares of Valvoline in a research note on Tuesday. They set a “neutral” rating for the company. Monness Crespi & Hardt started coverage on shares of Valvoline in a research note on Tuesday, September 27th. They set a “buy” rating and a $27.00 price objective for the company. Gabelli assumed coverage on shares of Valvoline in a research report on Wednesday, September 21st. They set a “buy” rating and a $29.00 price target on the stock. Finally, Seaport Global Securities assumed coverage on shares of Valvoline in a research report on Monday, September 26th. They set a “buy” rating and a $27.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $27.67.

Valvoline (NYSE:VVV) opened at 23.11 on Tuesday. The company has a market cap of $4.62 billion and a PE ratio of 19.19. The firm’s 50 day moving average is $23.27 and its 200 day moving average is $23.27. Valvoline has a 52-week low of $22.60 and a 52-week high of $24.51.

In related news, CFO Mary E. Meixelsperger purchased 2,500 shares of Valvoline stock in a transaction that occurred on Wednesday, September 28th. The shares were bought at an average price of $22.00 per share, for a total transaction of $55,000.00. Following the completion of the transaction, the chief financial officer now directly owns 2,500 shares of the company’s stock, valued at $55,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen E. Macadam purchased 5,000 shares of Valvoline stock in a transaction that occurred on Wednesday, September 28th. The shares were bought at an average price of $22.00 per share, for a total transaction of $110,000.00. Following the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at $110,000. The disclosure for this purchase can be found here.

5 Day Chart for NYSE:VVV

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