Analysts Set Valaris Limited (NYSE:VAL) Target Price at $56.83

Valaris Limited (NYSE:VAL) has been assigned an average recommendation of “Reduce” from the seven research firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $55.50.

VAL has been the subject of a number of analyst reports. Susquehanna reduced their price target on Valaris from $50.00 to $47.00 and set a “neutral” rating for the company in a report on Friday. Barclays reissued an “equal weight” rating and issued a $49.00 price target (down previously from $59.00) on shares of Valaris in a report on Wednesday, December 18th. Citigroup increased their price target on Valaris from $47.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. StockNews.com raised Valaris to a “sell” rating in a report on Thursday. Finally, Evercore ISI downgraded Valaris from an “outperform” rating to an “in-line” rating and reduced their price target for the company from $87.00 to $59.00 in a report on Wednesday, January 15th.

Valaris Stock Performance

Shares of NYSE:VAL opened at $41.80 on Thursday. The firm has a market capitalization of $2.97 billion, a PE ratio of 8.13 and a beta of 1.10. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.59 and a quick ratio of 1.61. The business has a 50-day moving average of $45.42 and a two-hundred day moving average of $50.62. Valaris has a 12 month low of $39.90 and a 12 month high of $84.20.

Valaris (NYSE:VAL) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.20 by $0.68. Valaris had a return on equity of 17.40% and a net margin of 15.81%. The company had revenue of $584.40 million during the quarter, compared to analyst estimates of $578.01 million. As a group, research analysts forecast that Valaris will post 3.96 earnings per share for the current year.

Institutional Trading of Valaris

Several hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP boosted its position in shares of Valaris by 51.7% in the fourth quarter. Quarry LP now owns 684 shares of the company’s stock worth $30,000 after buying an additional 233 shares during the period. Arizona State Retirement System boosted its position in Valaris by 1.3% during the fourth quarter. Arizona State Retirement System now owns 19,002 shares of the company’s stock valued at $841,000 after purchasing an additional 237 shares during the last quarter. Xponance Inc. boosted its position in Valaris by 5.5% during the fourth quarter. Xponance Inc. now owns 9,273 shares of the company’s stock valued at $410,000 after purchasing an additional 487 shares during the last quarter. State of Michigan Retirement System boosted its position in Valaris by 3.3% during the fourth quarter. State of Michigan Retirement System now owns 15,500 shares of the company’s stock valued at $686,000 after purchasing an additional 500 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in Valaris by 41.0% during the fourth quarter. Blue Trust Inc. now owns 1,758 shares of the company’s stock valued at $78,000 after purchasing an additional 511 shares during the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

Valaris Company Profile

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.