Valvoline (VVV) PT Set at $22.00 by Citigroup

Valvoline (NYSE:VVV) has been given a $22.00 target price by analysts at Citigroup in a research report issued on Thursday. The firm currently has a “buy” rating on the basic materials company’s stock. Citigroup’s price objective points to a potential upside of 9.34% from the stock’s current price.

A number of other research analysts also recently issued reports on the company. Zacks Investment Research downgraded Valvoline from a “hold” rating to a “sell” rating in a research note on Tuesday, July 17th. Morgan Stanley cut their price objective on Valvoline from $25.00 to $23.00 and set an “equal weight” rating for the company in a research note on Thursday, August 2nd. Monness Crespi & Hardt cut their price objective on Valvoline from $28.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, August 3rd. Seaport Global Securities reiterated a “hold” rating and set a $25.00 price objective on shares of Valvoline in a research note on Tuesday, August 7th. Finally, JPMorgan Chase & Co. downgraded Valvoline from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $22.00 to $20.00 in a research note on Friday, September 14th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $24.50.

NYSE VVV opened at $20.12 on Thursday. Valvoline has a 52 week low of $17.49 and a 52 week high of $25.63. The stock has a market cap of $3.82 billion, a PE ratio of 15.60, a price-to-earnings-growth ratio of 1.39 and a beta of 0.93.

Valvoline (NYSE:VVV) last released its quarterly earnings results on Monday, November 5th. The basic materials company reported $0.34 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.34. Valvoline had a net margin of 7.26% and a negative return on equity of 95.31%. The firm had revenue of $594.00 million during the quarter, compared to analyst estimates of $593.80 million. During the same quarter in the prior year, the firm earned $0.33 EPS. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, sell-side analysts expect that Valvoline will post 1.39 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in VVV. UBS Group AG grew its stake in shares of Valvoline by 8.0% during the 1st quarter. UBS Group AG now owns 73,460 shares of the basic materials company’s stock valued at $1,626,000 after acquiring an additional 5,440 shares during the period. Millennium Management LLC boosted its stake in Valvoline by 534.1% in the 1st quarter. Millennium Management LLC now owns 140,237 shares of the basic materials company’s stock worth $3,103,000 after purchasing an additional 118,120 shares during the period. Legal & General Group Plc boosted its stake in Valvoline by 21.0% in the 1st quarter. Legal & General Group Plc now owns 224,449 shares of the basic materials company’s stock worth $4,967,000 after purchasing an additional 38,998 shares during the period. Principal Financial Group Inc. boosted its stake in Valvoline by 4.4% in the 1st quarter. Principal Financial Group Inc. now owns 872,327 shares of the basic materials company’s stock worth $19,305,000 after purchasing an additional 37,049 shares during the period. Finally, Brown Advisory Inc. boosted its stake in Valvoline by 23.7% in the 1st quarter. Brown Advisory Inc. now owns 30,648 shares of the basic materials company’s stock worth $678,000 after purchasing an additional 5,864 shares during the period. Institutional investors own 98.45% of the company’s stock.

About Valvoline

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.

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