Valvoline (NYSE:VVV) Cut to Sell at Zacks Investment Research

Valvoline (NYSE:VVVGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday, reports.

According to Zacks, “Valvoline Inc. is a producer and distributor of premium-branded automotive, commercial and industrial lubricants as well as automotive chemicals. The company’s brand and franchises consists of Valvoline Instant Oil Change(SM), Valvoline lubricants and automotive chemicals (TM), MaxLife lubricants (TM), SynPower(TM) and Zerex(TM) antifreeze. Valvoline Inc. is based in Lexington, United States. “

VVV has been the subject of several other reports. initiated coverage on shares of Valvoline in a report on Thursday, March 31st. They issued a “buy” rating for the company. Citigroup decreased their price objective on shares of Valvoline from $40.00 to $35.00 in a report on Tuesday, May 10th. Finally, JPMorgan Chase & Co. raised shares of Valvoline from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $30.00 to $36.00 in a report on Thursday, May 12th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $38.17.

Valvoline stock traded up $3.33 during trading hours on Wednesday, hitting $33.11. The stock had a trading volume of 319,850 shares, compared to its average volume of 1,312,166. The company has a quick ratio of 1.26, a current ratio of 1.74 and a debt-to-equity ratio of 8.24. The stock has a market capitalization of $5.90 billion, a P/E ratio of 13.91 and a beta of 1.31. Valvoline has a 12-month low of $26.69 and a 12-month high of $37.97. The stock’s 50-day moving average price is $30.50 and its 200-day moving average price is $32.86.

Valvoline (NYSE:VVVGet Rating) last issued its earnings results on Monday, May 9th. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.48. The business had revenue of $886.00 million during the quarter, compared to analysts’ expectations of $887.10 million. Valvoline had a net margin of 12.85% and a return on equity of 278.10%. The business’s revenue for the quarter was up 26.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.46 earnings per share. On average, research analysts expect that Valvoline will post 2.09 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in VVV. Glenview Capital Management LLC bought a new position in shares of Valvoline in the first quarter worth approximately $55,059,000. Norges Bank bought a new position in shares of Valvoline in the fourth quarter worth approximately $61,299,000. Invesco Ltd. boosted its position in shares of Valvoline by 33.8% in the third quarter. Invesco Ltd. now owns 5,652,645 shares of the basic materials company’s stock worth $176,249,000 after purchasing an additional 1,429,120 shares during the period. Jana Partners LLC bought a new position in shares of Valvoline during the third quarter worth $39,767,000. Finally, Leeward Investments LLC MA bought a new position in shares of Valvoline during the first quarter worth $24,781,000. Institutional investors own 91.04% of the company’s stock.

About Valvoline (Get Rating)

Valvoline Inc manufactures, markets, and supplies, engine and automotive maintenance products and services. It operates through two segments, Retail Services and Global Products. 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; and oil and air filters for light-duty vehicles.

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