Valvoline (VVV) Downgraded by Bank of America to “Underperform”

Bank of America lowered shares of Valvoline (NYSE:VVV) from a buy rating to an underperform rating in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. They currently have $20.00 target price on the basic materials company’s stock, down from their prior target price of $24.00.

A number of other research firms have also weighed in on VVV. ValuEngine lowered shares of Valvoline from a hold rating to a sell rating in a report on Thursday, October 11th. JPMorgan Chase & Co. lowered shares of Valvoline from a neutral rating to an underweight rating and reduced their target price for the stock from $22.00 to $20.00 in a report on Friday, September 14th. Jefferies Financial Group started coverage on shares of Valvoline in a report on Wednesday, October 3rd. They set a buy rating and a $27.00 target price on the stock. Morgan Stanley reduced their target price on shares of Valvoline from $25.00 to $23.00 and set an equal weight rating on the stock in a report on Thursday, August 2nd. Finally, Zacks Investment Research lowered shares of Valvoline from a buy rating to a hold rating in a report on Saturday, October 13th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $24.50.

VVV opened at $20.12 on Tuesday. Valvoline has a fifty-two week low of $17.49 and a fifty-two week high of $25.63. The company has a market cap of $3.82 billion, a price-to-earnings ratio of 15.60, a price-to-earnings-growth ratio of 1.39 and a beta of 0.93.

Valvoline (NYSE:VVV) last posted its earnings results on Monday, November 5th. The basic materials company reported $0.34 earnings per share for the quarter, hitting the Zacks’ 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 for the quarter, compared to analyst estimates of $593.80 million. During the same period in the previous year, the firm posted $0.33 EPS. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, equities analysts predict that Valvoline will post 1.39 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the company. FIL Ltd boosted its stake in shares of Valvoline by 4.4% in the 3rd quarter. FIL Ltd now owns 5,999,480 shares of the basic materials company’s stock valued at $129,049,000 after purchasing an additional 254,864 shares during the last quarter. Chartwell Investment Partners LLC boosted its stake in shares of Valvoline by 31.4% in the 3rd quarter. Chartwell Investment Partners LLC now owns 202,986 shares of the basic materials company’s stock valued at $4,366,000 after purchasing an additional 48,457 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Valvoline by 13.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,773,869 shares of the basic materials company’s stock valued at $124,196,000 after purchasing an additional 684,854 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Valvoline by 171.2% in the 3rd quarter. SG Americas Securities LLC now owns 93,787 shares of the basic materials company’s stock valued at $2,017,000 after purchasing an additional 59,207 shares during the last quarter. Finally, WINTON GROUP Ltd boosted its stake in shares of Valvoline by 22.0% in the 3rd quarter. WINTON GROUP Ltd now owns 508,436 shares of the basic materials company’s stock valued at $10,936,000 after purchasing an additional 91,796 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.

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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