Wells Fargo & Company Cuts Valvoline (NYSE:VVV) Price Target to $44.00

Valvoline (NYSE:VVV) had its price target lowered by Wells Fargo & Company from $46.00 to $44.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the basic materials company’s stock.

A number of other brokerages have also recently issued reports on VVV. Baird R W upgraded Valvoline to a “strong-buy” rating in a report on Thursday, August 15th. Morgan Stanley reduced their price objective on shares of Valvoline from $46.00 to $42.00 and set an “overweight” rating for the company in a report on Wednesday. Royal Bank of Canada decreased their target price on shares of Valvoline from $54.00 to $48.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Robert W. Baird cut their price target on Valvoline from $48.00 to $46.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Stephens started coverage on Valvoline in a research note on Tuesday, October 15th. They issued an “overweight” rating and a $49.00 price objective for the company. One 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, Valvoline currently has a consensus rating of “Buy” and an average target price of $46.25.

Valvoline Stock Up 0.0 %

VVV stock opened at $38.57 on Wednesday. The stock’s 50 day simple moving average is $41.33 and its 200 day simple moving average is $41.91. The company has a market cap of $4.97 billion, a P/E ratio of 23.81 and a beta of 1.46. The company has a debt-to-equity ratio of 5.77, a quick ratio of 0.62 and a current ratio of 0.72. Valvoline has a fifty-two week low of $33.86 and a fifty-two week high of $48.26.

Valvoline declared that its board has authorized a stock buyback plan on Tuesday, July 30th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the basic materials company to reacquire up to 7.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Institutional Trading of Valvoline

Hedge funds have recently added to or reduced their stakes in the stock. Wasatch Advisors LP increased its stake in shares of Valvoline by 16.8% during the 3rd quarter. Wasatch Advisors LP now owns 9,738,142 shares of the basic materials company’s stock worth $407,541,000 after purchasing an additional 1,398,310 shares during the last quarter. State Street Corp grew its holdings in Valvoline by 0.4% during the third quarter. State Street Corp now owns 4,096,436 shares of the basic materials company’s stock valued at $171,436,000 after purchasing an additional 16,916 shares during the period. Congress Asset Management Co. increased its position in Valvoline by 2.8% in the third quarter. Congress Asset Management Co. now owns 3,656,672 shares of the basic materials company’s stock worth $153,032,000 after buying an additional 100,305 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Valvoline by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,720,748 shares of the basic materials company’s stock valued at $117,534,000 after buying an additional 94,673 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Valvoline by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,226,769 shares of the basic materials company’s stock valued at $93,215,000 after buying an additional 54,545 shares during the last quarter. 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.