Morgan Stanley Has Lowered Expectations for Valvoline (NYSE:VVV) Stock Price

Valvoline (NYSE:VVV) had its target price decreased by stock analysts at Morgan Stanley from $46.00 to $42.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the basic materials company’s stock. Morgan Stanley’s price objective suggests a potential upside of 8.92% from the stock’s current price.

Other analysts have also recently issued reports about the company. Wells Fargo & Company reduced their price target on Valvoline from $50.00 to $46.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Robert W. Baird began coverage on Valvoline in a report on Thursday, August 15th. They set an “outperform” rating and a $48.00 price target on the stock. Baird R W upgraded Valvoline to a “strong-buy” rating in a report on Thursday, August 15th. Royal Bank of Canada reduced their price target on Valvoline from $54.00 to $48.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Stephens began coverage on Valvoline in a report on Tuesday, October 15th. They set an “overweight” rating and a $49.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $46.25.

Valvoline Stock Performance

Valvoline stock opened at $38.56 on Wednesday. Valvoline has a 12-month low of $33.86 and a 12-month high of $48.26. The company has a quick ratio of 0.62, a current ratio of 0.72 and a debt-to-equity ratio of 5.77. The business’s 50-day moving average price is $41.41 and its two-hundred day moving average price is $41.97. The stock has a market cap of $4.97 billion, a PE ratio of 23.87 and a beta of 1.46.

Valvoline declared that its Board of Directors has initiated a stock buyback plan on Tuesday, July 30th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the basic materials company to repurchase up to 7.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Valvoline

A number of institutional investors have recently modified their holdings of the company. Invst LLC raised its position in shares of Valvoline by 3.7% during the third quarter. Invst LLC now owns 15,931 shares of the basic materials company’s stock worth $667,000 after purchasing an additional 563 shares during the period. Coldstream Capital Management Inc. raised its position in shares of Valvoline by 11.8% during the third quarter. Coldstream Capital Management Inc. now owns 7,209 shares of the basic materials company’s stock worth $302,000 after purchasing an additional 760 shares during the period. Geode Capital Management LLC raised its position in shares of Valvoline by 2.5% during the third quarter. Geode Capital Management LLC now owns 2,226,769 shares of the basic materials company’s stock worth $93,215,000 after purchasing an additional 54,545 shares during the period. Barclays PLC raised its position in shares of Valvoline by 52.4% during the third quarter. Barclays PLC now owns 53,580 shares of the basic materials company’s stock worth $2,242,000 after purchasing an additional 18,414 shares during the period. Finally, Public Employees Retirement System of Ohio raised its position in shares of Valvoline by 212.0% during the third quarter. Public Employees Retirement System of Ohio now owns 158,983 shares of the basic materials company’s stock worth $6,653,000 after purchasing an additional 108,020 shares during the period. 96.13% of the stock is owned by institutional investors and hedge funds.

Valvoline Company Profile

Valvoline Inc engages in the operation and franchising of vehicle service centers and retail stores in the United States and Canada. The company, through its service centers, provides fluid exchange for motor oil, transmission and differential fluid, and coolant; parts replacement for batteries, filters, wiper blades, and belts; and safety services, such as tire inflation and rotation, bulbs, and safety checks.