Zacks Investment Research Downgrades Valvoline (NYSE:VVV) to Hold

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Zacks Investment Research downgraded shares of Valvoline (NYSE:VVV) from a buy rating to a hold rating in a research report released on Tuesday, Zacks.com reports.

According to Zacks, “Valvoline Inc. is a producer and distributor of premium-branded automotive, commercial and industrial lubricants as well as automotive chemicals. The company’s brand and franchises consists of Valvoline Instant Oil Change(SM), Valvoline lubricants and automotive chemicals (TM), MaxLife lubricants (TM), SynPower(TM) and Zerex(TM) antifreeze. Valvoline Inc. is based in Lexington, United States. “

A number of other brokerages also recently issued reports on VVV. Citigroup raised their price target on shares of Valvoline from $21.00 to $25.00 and gave the company a buy rating in a report on Friday, August 2nd. Buckingham Research raised shares of Valvoline from a neutral rating to a buy rating and raised their price target for the company from $18.00 to $24.00 in a report on Monday, July 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. Valvoline presently has an average rating of Hold and a consensus price target of $23.43.

Shares of NYSE VVV opened at $22.06 on Tuesday. The firm’s 50-day moving average price is $22.15 and its 200-day moving average price is $19.65. The company has a market cap of $4.13 billion, a PE ratio of 17.10, a PEG ratio of 1.77 and a beta of 0.90. Valvoline has a 52-week low of $16.90 and a 52-week high of $23.16.

Valvoline (NYSE:VVV) last announced its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.04. The firm had revenue of $613.00 million for the quarter, compared to the consensus estimate of $610.42 million. Valvoline had a net margin of 9.60% and a negative return on equity of 80.89%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.32 EPS. As a group, equities research analysts forecast that Valvoline will post 1.33 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a dividend of $0.106 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend was Thursday, August 29th. Valvoline’s payout ratio is presently 32.56%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Boston Partners boosted its holdings in shares of Valvoline by 15.8% during the 2nd quarter. Boston Partners now owns 3,117,717 shares of the basic materials company’s stock valued at $60,985,000 after acquiring an additional 424,373 shares during the last quarter. Atria Investments LLC purchased a new position in shares of Valvoline in the second quarter worth approximately $11,388,000. HG Vora Capital Management LLC purchased a new position in shares of Valvoline in the second quarter worth approximately $29,295,000. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Valvoline by 103.5% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 15,896 shares of the basic materials company’s stock worth $314,000 after buying an additional 8,085 shares during the last quarter. Finally, Eaton Vance Management boosted its holdings in shares of Valvoline by 83.1% in the second quarter. Eaton Vance Management now owns 817,139 shares of the basic materials company’s stock worth $15,959,000 after buying an additional 370,932 shares during the last quarter. 94.03% of the stock is currently owned by hedge funds and other institutional investors.

About Valvoline

Valvoline Inc manufactures and markets engine and automotive maintenance products and services. It operates through three segments: Core North America, Quick Lubes, and International. The company offers lubricants for passenger car, light duty, and heavy duty; antifreeze/coolants for original equipment manufacturers; functional and maintenance chemicals, such as brake fluids and power steering fluids, as well as specialty coatings for automotive and industrial applications comprising rust prevention and sound absorption; and oil and air filters for light-duty vehicles.

Further Reading: Return on Investment (ROI)

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