Valvoline (NYSE:VVV) Given New $25.00 Price Target at Citigroup

Valvoline (NYSE:VVV) had its price objective boosted by Citigroup from $21.00 to $25.00 in a research note issued to investors on Friday, BenzingaRatingsTable reports. They currently have a buy rating on the basic materials company’s stock.

A number of other research firms also recently issued reports on VVV. Morgan Stanley set a $19.00 target price on Valvoline and gave the company a hold rating in a research report on Thursday, May 2nd. Buckingham Research raised Valvoline from a neutral rating to a buy rating and boosted their price target for the stock from $18.00 to $24.00 in a research report on Monday, July 1st. Zacks Investment Research raised Valvoline from a hold rating to a buy rating and set a $22.00 price target on the stock in a research report on Friday, July 19th. Finally, Monness Crespi & Hardt reissued a buy rating and set a $24.00 price target (down previously from $26.00) on shares of Valvoline in a research report on Friday, May 3rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $22.89.

Shares of NYSE:VVV traded up $0.07 during midday trading on Friday, reaching $21.72. The company had a trading volume of 1,598,812 shares, compared to its average volume of 826,800. The company’s 50 day moving average is $19.93. The firm has a market capitalization of $3.80 billion, a PE ratio of 16.84, a PEG ratio of 1.68 and a beta of 1.00. Valvoline has a 1-year low of $16.90 and a 1-year high of $23.16.

Valvoline (NYSE:VVV) last released its earnings results on Wednesday, July 31st. The basic materials company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.04. The business had revenue of $613.00 million for the quarter, compared to the consensus estimate of $610.42 million. Valvoline had a negative return on equity of 75.98% and a net margin of 9.60%. Valvoline’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.32 earnings per share. Research analysts predict that Valvoline will post 1.31 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be given a dividend of $0.106 per share. This represents a $0.42 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Thursday, August 29th. Valvoline’s dividend payout ratio (DPR) is presently 32.56%.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Meridian Wealth Management LLC acquired a new position in Valvoline during the first quarter worth approximately $25,000. Quadrant Capital Group LLC boosted its holdings in shares of Valvoline by 958.3% during the first quarter. Quadrant Capital Group LLC now owns 1,524 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 1,380 shares during the period. Hilton Capital Management LLC bought a new stake in shares of Valvoline during the first quarter worth approximately $56,000. Advisor Group Inc. boosted its holdings in shares of Valvoline by 19.5% during the fourth quarter. Advisor Group Inc. now owns 3,511 shares of the basic materials company’s stock worth $68,000 after acquiring an additional 572 shares during the period. Finally, AdvisorNet Financial Inc boosted its holdings in shares of Valvoline by 83.2% during the second quarter. AdvisorNet Financial Inc now owns 4,405 shares of the basic materials company’s stock worth $86,000 after acquiring an additional 2,000 shares during the period. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Valvoline Company Profile

Valvoline Inc manufactures and markets engine and automotive maintenance products and services. It operates through three segments: Core North America, Quick Lubes, and International. 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 comprising rust prevention and sound absorption; and oil and air filters for light-duty vehicles.

Further Reading: Diversification

Analyst Recommendations for Valvoline (NYSE:VVV)

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