Citigroup Increases Valvoline (NYSE:VVV) Price Target to $37.00

Valvoline (NYSE:VVVGet Rating) had its price target lifted by research analysts at Citigroup from $35.00 to $37.00 in a report issued on Wednesday, The Fly reports. Citigroup’s target price indicates a potential upside of 30.42% from the stock’s previous close.

VVV has been the topic of several other research reports. StockNews.com cut shares of Valvoline from a “buy” rating to a “hold” rating in a research report on Tuesday. Jefferies Financial Group dropped their target price on shares of Valvoline from $44.00 to $40.00 in a research report on Thursday, June 16th. Finally, JPMorgan Chase & Co. raised shares of Valvoline from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $30.00 to $36.00 in a research report on Thursday, May 12th. They noted that the move was a valuation call. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.67.

Valvoline Price Performance

Shares of NYSE VVV opened at $28.37 on Wednesday. Valvoline has a fifty-two week low of $26.69 and a fifty-two week high of $37.97. The stock has a market cap of $5.06 billion, a price-to-earnings ratio of 11.92 and a beta of 1.33. The company has a debt-to-equity ratio of 8.24, a quick ratio of 1.26 and a current ratio of 1.74. The firm’s 50-day simple moving average is $30.75 and its 200 day simple moving average is $31.14.

Valvoline (NYSE:VVVGet Rating) last announced its quarterly earnings results on Monday, May 9th. The basic materials company reported $0.48 earnings per share for the quarter, meeting the consensus estimate of $0.48. Valvoline had a net margin of 12.85% and a return on equity of 278.10%. The business had revenue of $886.00 million for the quarter, compared to analysts’ expectations of $887.10 million. During the same quarter last year, the firm earned $0.46 EPS. The firm’s revenue for the quarter was up 26.4% compared to the same quarter last year. As a group, research analysts anticipate that Valvoline will post 2.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Valvoline

Several large investors have recently modified their holdings of VVV. Glenview Capital Management LLC purchased a new stake in shares of Valvoline during the 1st quarter worth approximately $55,059,000. Leeward Investments LLC MA purchased a new position in Valvoline in the 1st quarter valued at approximately $24,781,000. Point72 Asset Management L.P. grew its stake in Valvoline by 373.3% in the 4th quarter. Point72 Asset Management L.P. now owns 885,500 shares of the basic materials company’s stock valued at $33,020,000 after buying an additional 698,400 shares in the last quarter. Millennium Management LLC grew its stake in Valvoline by 382.5% in the 4th quarter. Millennium Management LLC now owns 674,613 shares of the basic materials company’s stock valued at $25,156,000 after buying an additional 534,792 shares in the last quarter. Finally, Freshford Capital Management LLC grew its stake in Valvoline by 57.8% in the 1st quarter. Freshford Capital Management LLC now owns 1,424,783 shares of the basic materials company’s stock valued at $44,965,000 after buying an additional 521,738 shares in the last quarter. Hedge funds and other institutional investors own 91.04% of the company’s stock.

Valvoline Company Profile

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Valvoline Inc manufactures, markets, and supplies, engine and automotive maintenance products and services. It operates through two segments, Retail Services and Global Products. 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; and oil and air filters for light-duty vehicles.

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