Zacks Investment Research upgraded shares of Valvoline (NYSE:VVV) from a hold rating to a buy rating in a research report released on Friday morning, Zacks.com reports. Zacks Investment Research currently has $22.00 price objective on the basic materials company’s stock.
According to Zacks, “Valvoline Inc. is a producer and distributor of premium-branded automotive, commercial and industrial lubricants as well as automotive chemicals. The company’s brand and franchises consists of Valvoline Instant Oil Change(SM), Valvoline lubricants and automotive chemicals (TM), MaxLife lubricants (TM), SynPower(TM) and Zerex(TM) antifreeze. Valvoline Inc. is based in Lexington, United States. “
Other equities research analysts have also issued reports about the company. Buckingham Research set a $77.00 price objective on MSC Industrial Direct and gave the stock a hold rating in a research note on Monday, July 1st. Monness Crespi & Hardt reissued a buy rating and set a $97.00 price objective (up from $95.00) on shares of Fortinet in a research note on Friday, May 3rd. Finally, Morgan Stanley raised their target price on Zynga and gave the stock an overweight rating in a research report on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $22.56.
Valvoline (NYSE:VVV) last released its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02. The business had revenue of $591.00 million during the quarter, compared to analyst estimates of $596.71 million. Valvoline had a negative return on equity of 76.15% and a net margin of 9.70%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same period last year, the company posted $0.34 EPS. Equities research analysts forecast that Valvoline will post 1.31 earnings per share for the current fiscal year.
Several institutional investors have recently modified their holdings of VVV. Cipher Capital LP purchased a new stake in shares of Valvoline during the fourth quarter worth $236,000. Geode Capital Management LLC raised its holdings in shares of Valvoline by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 1,890,328 shares of the basic materials company’s stock worth $36,577,000 after acquiring an additional 94,837 shares in the last quarter. Norges Bank purchased a new stake in shares of Valvoline during the fourth quarter worth $33,769,000. APG Asset Management N.V. purchased a new stake in shares of Valvoline during the fourth quarter worth $2,261,000. Finally, Brinker Capital Inc. raised its holdings in shares of Valvoline by 106.0% during the first quarter. Brinker Capital Inc. now owns 37,487 shares of the basic materials company’s stock worth $696,000 after acquiring an additional 19,290 shares in the last quarter. 96.78% of the stock is owned by institutional investors and hedge funds.
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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