Valaris (NYSE:VAL) Rating Increased to Sell at StockNews.com

StockNews.com upgraded shares of Valaris (NYSE:VAL) to a sell rating in a report published on Friday morning.

Several other analysts have also issued reports on the stock. Evercore ISI cut their price target on shares of Valaris from $107.00 to $105.00 and set an outperform rating for the company in a research report on Friday, February 23rd. Barclays decreased their target price on shares of Valaris from $105.00 to $102.00 and set an overweight rating for the company in a research note on Tuesday, March 5th. Finally, TheStreet raised Valaris from a c rating to a b- rating in a report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Valaris presently has a consensus rating of Moderate Buy and a consensus target price of $100.00.

Valaris Stock Up 2.1 %

Valaris stock opened at $69.23 on Friday. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.54. Valaris has a 1-year low of $54.13 and a 1-year high of $78.92. The firm has a market capitalization of $5.01 billion, a price-to-earnings ratio of 5.92 and a beta of 1.13. The firm has a 50 day simple moving average of $69.68 and a 200 day simple moving average of $68.08.

Valaris (NYSE:VAL) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.32. The firm had revenue of $483.80 million during the quarter, compared to the consensus estimate of $484.00 million. Valaris had a return on equity of 5.71% and a net margin of 48.50%. On average, analysts predict that Valaris will post 4.75 earnings per share for the current year.

Hedge Funds Weigh In On Valaris

A number of hedge funds have recently modified their holdings of the company. Fifth Third Bancorp boosted its holdings in Valaris by 120.1% in the 3rd quarter. Fifth Third Bancorp now owns 394 shares of the company’s stock worth $30,000 after buying an additional 215 shares during the period. Princeton Global Asset Management LLC bought a new position in shares of Valaris in the third quarter worth about $37,000. Covestor Ltd grew its position in shares of Valaris by 184.0% during the third quarter. Covestor Ltd now owns 693 shares of the company’s stock worth $52,000 after purchasing an additional 449 shares in the last quarter. Assetmark Inc. bought a new stake in Valaris during the 3rd quarter valued at approximately $70,000. Finally, Spire Wealth Management purchased a new position in Valaris in the 4th quarter worth approximately $101,000. 96.74% of the stock is currently owned by institutional investors.

About Valaris

Valaris Limited, together with its subsidiaries, provides offshore contract drilling services Gulf of Mexico, South America, North Sea, the Middle East, Africa, and the Asia Pacific. The company operates through four segments: Floaters, Jackups, ARO, and Other. It owns an offshore drilling rig fleet, which include drillships, dynamically positioned semisubmersible rigs, moored semisubmersible rig, and jackup rigs.