Royal Bank of Canada Has Lowered Expectations for Valvoline (NYSE:VVV) Stock Price

Valvoline (NYSE:VVV) had its price objective reduced by Royal Bank of Canada from $52.00 to $46.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the basic materials company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 19.29% from the company’s current price.

Several other research analysts have also recently weighed in on the company. Baird R W upgraded Valvoline to a “strong-buy” rating in a research note on Thursday, August 15th. Stephens initiated coverage on Valvoline in a research report on Tuesday, October 15th. They set an “overweight” rating and a $49.00 price objective for the company. 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. Wells Fargo & Company reduced their price objective on Valvoline from $46.00 to $44.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Robert W. Baird reduced their price objective on Valvoline from $48.00 to $46.00 and set an “outperform” rating for the company in a research report on Wednesday. One 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. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $46.25.

Valvoline Stock Up 0.2 %

VVV stock opened at $38.56 on Wednesday. The business has a 50 day moving average of $41.38 and a 200 day moving average of $41.94. The firm has a market cap of $4.97 billion, a PE ratio of 23.80 and a beta of 1.46. Valvoline has a twelve month low of $33.86 and a twelve month high of $48.26. The company has a quick ratio of 0.62, a current ratio of 0.72 and a debt-to-equity ratio of 5.77.

Valvoline declared that its Board of Directors has initiated a stock repurchase program on Tuesday, July 30th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the basic materials company to buy up to 7.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of VVV. UMB Bank n.a. boosted its position in Valvoline by 92.1% during the 3rd quarter. UMB Bank n.a. now owns 630 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 302 shares in the last quarter. Blue Trust Inc. boosted its position in Valvoline by 57.9% during the 2nd quarter. Blue Trust Inc. now owns 728 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 267 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in Valvoline during the 2nd quarter valued at $34,000. Mather Group LLC. boosted its position in Valvoline by 1,617.0% during the 2nd quarter. Mather Group LLC. now owns 807 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 760 shares in the last quarter. Finally, Prospera Private Wealth LLC bought a new stake in Valvoline during the 3rd quarter valued at $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.