Valvoline (VVV) Lowered to Underweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of Valvoline (NYSE:VVV) from a neutral rating to an underweight rating in a report released on Friday, September 14th, MarketBeat.com reports. The firm currently has $20.00 target price on the basic materials company’s stock, down from their prior target price of $22.00.

Several other equities analysts have also recently issued reports on VVV. ValuEngine cut Valvoline from a hold rating to a sell rating in a report on Monday, June 11th. Monness Crespi & Hardt decreased their price target on Valvoline from $28.00 to $26.00 and set a buy rating on the stock in a report on Friday, August 3rd. Seaport Global Securities reissued a hold rating and issued a $25.00 target price on shares of Valvoline in a research note on Tuesday, August 7th. Morgan Stanley cut their target price on Valvoline from $25.00 to $23.00 and set an equal weight rating on the stock in a research note on Thursday, August 2nd. Finally, Zacks Investment Research lowered Valvoline from a hold rating to a sell rating in a research note on Tuesday, July 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. Valvoline currently has an average rating of Hold and an average price target of $25.38.

Shares of VVV stock traded down $0.01 during trading hours on Friday, hitting $20.57. 1,451,700 shares of the company’s stock were exchanged, compared to its average volume of 1,482,144. The company has a debt-to-equity ratio of -4.27, a quick ratio of 1.40 and a current ratio of 1.86. The stock has a market capitalization of $4.10 billion, a PE ratio of 14.80, a PEG ratio of 1.44 and a beta of 0.96. Valvoline has a 52 week low of $19.86 and a 52 week high of $25.63.

Valvoline (NYSE:VVV) last announced its earnings results on Wednesday, August 1st. The basic materials company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). The business had revenue of $577.00 million for the quarter, compared to the consensus estimate of $591.49 million. Valvoline had a negative return on equity of 124.61% and a net margin of 10.10%. Valvoline’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.34 EPS. As a group, analysts forecast that Valvoline will post 1.29 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, September 17th. Stockholders of record on Friday, August 31st were given a dividend of $0.0745 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date was Thursday, August 30th. Valvoline’s dividend payout ratio is currently 21.58%.

In other news, insider Anthony R. Puckett sold 6,132 shares of the firm’s stock in a transaction dated Tuesday, July 10th. The stock was sold at an average price of $21.72, for a total transaction of $133,187.04. Following the sale, the insider now owns 5,445 shares of the company’s stock, valued at $118,265.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.59% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. FIL Ltd grew its stake in Valvoline by 682.9% in the first quarter. FIL Ltd now owns 5,809,587 shares of the basic materials company’s stock valued at $128,566,000 after purchasing an additional 5,067,503 shares in the last quarter. Champlain Investment Partners LLC bought a new position in Valvoline in the first quarter valued at approximately $41,077,000. Janus Henderson Group PLC grew its stake in Valvoline by 24.7% in the second quarter. Janus Henderson Group PLC now owns 7,330,130 shares of the basic materials company’s stock valued at $158,111,000 after purchasing an additional 1,450,594 shares in the last quarter. Deprince Race & Zollo Inc. bought a new position in Valvoline in the second quarter valued at approximately $22,624,000. Finally, Tensile Capital Management LLC grew its stake in Valvoline by 56.1% in the first quarter. Tensile Capital Management LLC now owns 2,837,622 shares of the basic materials company’s stock valued at $62,797,000 after purchasing an additional 1,020,300 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Valvoline (NYSE:VVV)

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