Valvoline (NYSE:VVV) Shares Gap Down to $44.21

Valvoline Inc. (NYSE:VVV) gapped down prior to trading on Wednesday . The stock had previously closed at $44.21, but opened at $40.20. Valvoline shares last traded at $42.32, with a volume of 647,167 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on VVV. Morgan Stanley upgraded shares of Valvoline from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $37.00 to $44.00 in a research note on Tuesday, January 16th. Mizuho began coverage on Valvoline in a report on Tuesday, March 19th. They set a “buy” rating and a $50.00 price target for the company. Royal Bank of Canada boosted their price objective on shares of Valvoline from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Finally, Citigroup boosted their target price on shares of Valvoline from $36.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 13th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.75.

Valvoline Stock Down 0.6 %

The stock’s 50 day simple moving average is $43.20 and its 200 day simple moving average is $38.42. The stock has a market capitalization of $5.44 billion, a P/E ratio of 5.21 and a beta of 1.45. The company has a current ratio of 2.24, a quick ratio of 2.14 and a debt-to-equity ratio of 24.02.

Valvoline (NYSE:VVV) last announced its quarterly earnings results on Wednesday, May 8th. The basic materials company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.01. Valvoline had a net margin of 92.04% and a return on equity of 41.83%. The company had revenue of $388.70 million during the quarter, compared to the consensus estimate of $390.75 million. During the same quarter in the previous year, the company posted $0.23 earnings per share. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, research analysts predict that Valvoline Inc. will post 1.61 EPS for the current fiscal year.

Hedge Funds Weigh In On Valvoline

Several hedge funds and other institutional investors have recently made changes to their positions in VVV. Cambridge Investment Research Advisors Inc. increased its position in shares of Valvoline by 3.5% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 12,738 shares of the basic materials company’s stock worth $411,000 after acquiring an additional 428 shares in the last quarter. Inspire Investing LLC grew its stake in shares of Valvoline by 10.9% in the 3rd quarter. Inspire Investing LLC now owns 10,852 shares of the basic materials company’s stock valued at $350,000 after buying an additional 1,070 shares in the last quarter. Summit Trail Advisors LLC acquired a new position in Valvoline in the third quarter worth approximately $237,000. Capital Insight Partners LLC grew its position in Valvoline by 4.8% in the third quarter. Capital Insight Partners LLC now owns 78,005 shares of the basic materials company’s stock worth $2,515,000 after acquiring an additional 3,578 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its stake in shares of Valvoline by 35.9% during the 3rd quarter. Teacher Retirement System of Texas now owns 50,857 shares of the basic materials company’s stock worth $1,640,000 after purchasing an additional 13,441 shares during the last quarter. 96.13% of the stock is currently owned by institutional investors and hedge funds.

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.