Valvoline (NYSE:VVV) Reaches New 12-Month High After Strong Earnings

Valvoline Inc (NYSE:VVV) hit a new 52-week high during trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $23.86 and last traded at $23.53, with a volume of 7459 shares trading hands. The stock had previously closed at $22.12.

The basic materials company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.07. Valvoline had a net margin of 9.60% and a negative return on equity of 80.89%. The company had revenue of $629.00 million for the quarter, compared to analyst estimates of $627.04 million. During the same quarter in the previous year, the firm posted $0.34 earnings per share. The company’s quarterly revenue was up 5.9% compared to the same quarter last year.

VVV has been the topic of several research reports. Citigroup boosted their price target on shares of Valvoline from $21.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. ValuEngine lowered shares of Valvoline from a “hold” rating to a “sell” rating in a research report on Wednesday. Zacks Investment Research reissued a “hold” rating on shares of Valvoline in a research report on Saturday, October 19th. Finally, TheStreet raised shares of Valvoline from a “d+” rating to a “c+” rating in a research note on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Valvoline has a consensus rating of “Hold” and a consensus target price of $23.20.

A number of large investors have recently modified their holdings of VVV. FMR LLC grew its stake in Valvoline by 2,577.9% during the first quarter. FMR LLC now owns 101,652 shares of the basic materials company’s stock valued at $1,886,000 after acquiring an additional 97,856 shares in the last quarter. Amundi Pioneer Asset Management Inc. grew its stake in Valvoline by 1,520.1% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 155,613 shares of the basic materials company’s stock worth $2,888,000 after buying an additional 146,008 shares in the last quarter. Midas Management Corp purchased a new position in Valvoline in the 2nd quarter worth approximately $2,500,000. NN Investment Partners Holdings N.V. purchased a new position in Valvoline in the 2nd quarter worth approximately $201,000. Finally, Diversified Trust Co purchased a new position in Valvoline in the 2nd quarter worth approximately $201,000. 94.05% of the stock is owned by institutional investors.

The firm has a market cap of $4.11 billion, a PE ratio of 18.25, a PEG ratio of 1.61 and a beta of 0.89. The stock’s 50 day simple moving average is $21.76 and its 200 day simple moving average is $20.41.

About Valvoline (NYSE:VVV)

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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