Valvoline (VVV) Rating Lowered to Sell at Zacks Investment Research
Valvoline (NYSE:VVV) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.
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. “
Other equities analysts have also issued reports about the company. Deutsche Bank AG assumed coverage on Valvoline in a report on Tuesday, October 18th. They issued a “hold” rating and a $24.00 price objective for the company. Gabelli lowered Valvoline from a “buy” rating to a “hold” rating in a report on Thursday, November 10th. JPMorgan Chase & Co. assumed coverage on Valvoline in a report on Friday, October 21st. They issued a “neutral” rating for the company. Monness Crespi & Hardt assumed coverage on Valvoline in a report on Tuesday, September 27th. They issued a “buy” rating and a $27.00 price objective for the company. Finally, Longbow Research assumed coverage on Valvoline in a report on Friday, October 21st. They issued a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. Valvoline currently has an average rating of “Hold” and a consensus price target of $26.11.
Valvoline (NYSE:VVV) opened at 21.00 on Wednesday. Valvoline has a 12-month low of $18.30 and a 12-month high of $24.51. The firm has a market capitalization of $4.31 billion and a PE ratio of 15.79. The stock has a 50 day moving average price of $21.31 and a 200-day moving average price of $21.71.
Valvoline (NYSE:VVV) last issued its quarterly earnings data on Tuesday, November 8th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by $0.03. The company earned $494 million during the quarter, compared to analyst estimates of $487.50 million. During the same period last year, the business earned $0.28 earnings per share. Valvoline’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities research analysts forecast that Valvoline will post $1.31 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 20th. Stockholders of record on Monday, December 5th will be paid a dividend of $0.049 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Thursday, December 1st.
In related news, CEO Samuel J. Mitchell acquired 25,000 shares of Valvoline stock in a transaction dated Wednesday, September 28th. The stock was acquired at an average cost of $22.00 per share, with a total value of $550,000.00. Following the purchase, the chief executive officer now directly owns 25,000 shares in the company, valued at approximately $550,000. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Mary E. Meixelsperger acquired 2,500 shares of Valvoline stock in a transaction dated Wednesday, September 28th. The shares were bought at an average cost of $22.00 per share, with a total value of $55,000.00. Following the completion of the purchase, the chief financial officer now owns 2,500 shares in the company, valued at $55,000. The disclosure for this purchase can be found here.
Several large investors have recently added to or reduced their stakes in VVV. Henderson Group PLC bought a new stake in Valvoline during the third quarter valued at $1,175,000. Exane Asset Management acquired a new stake in Valvoline during the third quarter worth about $8,883,000. Seatown Holdings Pte. Ltd. acquired a new stake in Valvoline during the third quarter worth about $2,349,000. First Trust Advisors LP acquired a new stake in Valvoline during the third quarter worth about $5,093,000. Finally, TD Asset Management Inc. acquired a new stake in Valvoline during the third quarter worth about $1,893,000.
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