Mizuho Cuts Valvoline (NYSE:VVV) Price Target to $46.00

Valvoline (NYSE:VVV) had its price objective lowered by Mizuho from $50.00 to $46.00 in a research note published on Wednesday morning,Benzinga reports. Mizuho currently has an outperform rating on the basic materials company’s stock.

A number of other research analysts also recently commented on the stock. Wells Fargo & Company dropped their target price on shares of Valvoline from $46.00 to $44.00 and set an “overweight” rating on the stock in a research report on Wednesday. Stephens started coverage on Valvoline in a report on Tuesday, October 15th. They set an “overweight” rating and a $49.00 price objective on the stock. Morgan Stanley reduced their target price on Valvoline from $46.00 to $42.00 and set an “overweight” rating for the company in a report on Wednesday. Robert W. Baird decreased their target price on Valvoline from $48.00 to $46.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Baird R W raised Valvoline to a “strong-buy” rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $46.25.

Valvoline Stock Performance

Shares of Valvoline stock opened at $38.57 on Wednesday. The business has a 50-day simple moving average of $41.33 and a 200-day simple moving average of $41.89. The company has a market cap of $4.97 billion, a PE ratio of 23.81 and a beta of 1.46. Valvoline has a one year low of $33.86 and a one year high of $48.26. 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 declared that its Board of Directors has authorized a stock buyback plan on Tuesday, July 30th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the basic materials company to repurchase up to 7.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Wasatch Advisors LP lifted its holdings 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 valued at $407,541,000 after acquiring an additional 1,398,310 shares in the last quarter. Sculptor Capital LP raised its position in Valvoline by 187.6% in the second quarter. Sculptor Capital LP now owns 1,879,500 shares of the basic materials company’s stock valued at $81,194,000 after purchasing an additional 1,226,000 shares during the period. Geneva Capital Management LLC acquired a new position in shares of Valvoline during the third quarter worth about $32,670,000. Fiera Capital Corp purchased a new stake in shares of Valvoline in the third quarter worth about $25,538,000. Finally, F M Investments LLC acquired a new stake in shares of Valvoline in the second quarter valued at about $11,992,000. 96.13% of the stock is currently owned by hedge funds and other institutional investors.

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.