Valvoline Inc. (NYSE:VVV – Get Rating) – Stock analysts at Seaport Res Ptn upped their Q3 2023 EPS estimates for shares of Valvoline in a research note issued to investors on Monday, June 12th. Seaport Res Ptn analyst M. Harrison now forecasts that the basic materials company will post earnings per share of $0.34 for the quarter, up from their prior forecast of $0.33. Seaport Res Ptn currently has a “Neutral” rating on the stock. The consensus estimate for Valvoline’s current full-year earnings is $1.08 per share.
A number of other research firms have also recently commented on VVV. Royal Bank of Canada raised their target price on shares of Valvoline from $40.00 to $43.00 in a research note on Thursday, May 11th. JPMorgan Chase & Co. cut shares of Valvoline from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $41.00 to $39.00 in a research note on Friday, June 2nd. Citigroup cut shares of Valvoline from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research note on Friday, February 24th. StockNews.com upgraded shares of Valvoline from a “sell” rating to a “hold” rating in a research note on Thursday, May 11th. Finally, Morgan Stanley initiated coverage on shares of Valvoline in a research report on Monday. They set an “equal weight” rating and a $40.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $39.80.
Valvoline Price Performance
Valvoline (NYSE:VVV – Get Rating) last issued its quarterly earnings data on Wednesday, May 10th. The basic materials company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.01. Valvoline had a net margin of 79.50% and a return on equity of 50.51%. The firm had revenue of $344.50 million for the quarter, compared to analysts’ expectations of $347.12 million.
Insider Activity at Valvoline
In related news, SVP Heidi J. Matheys sold 2,546 shares of the firm’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $38.64, for a total value of $98,377.44. Following the completion of the transaction, the senior vice president now directly owns 37,159 shares of the company’s stock, valued at $1,435,823.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Valvoline news, SVP Heidi J. Matheys sold 5,823 shares of Valvoline stock in a transaction on Tuesday, April 4th. The shares were sold at an average price of $35.25, for a total transaction of $205,260.75. Following the completion of the transaction, the senior vice president now directly owns 37,159 shares of the company’s stock, valued at $1,309,854.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Heidi J. Matheys sold 2,546 shares of Valvoline stock in a transaction on Friday, May 12th. The stock was sold at an average price of $38.64, for a total transaction of $98,377.44. Following the transaction, the senior vice president now directly owns 37,159 shares of the company’s stock, valued at $1,435,823.76. The disclosure for this sale can be found here. 0.99% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of VVV. Boston Partners boosted its stake in shares of Valvoline by 94.4% during the fourth quarter. Boston Partners now owns 7,806,725 shares of the basic materials company’s stock valued at $256,145,000 after purchasing an additional 3,791,195 shares during the period. Norges Bank purchased a new stake in shares of Valvoline during the fourth quarter valued at $60,299,000. Two Sigma Investments LP purchased a new stake in shares of Valvoline during the fourth quarter valued at $38,511,000. FIL Ltd boosted its stake in shares of Valvoline by 2,059.2% during the first quarter. FIL Ltd now owns 1,106,653 shares of the basic materials company’s stock valued at $38,666,000 after purchasing an additional 1,055,401 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Valvoline by 927.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 996,050 shares of the basic materials company’s stock valued at $34,803,000 after purchasing an additional 899,099 shares during the period. 90.20% of the stock is owned by hedge funds and other institutional investors.
About Valvoline
Valvoline Inc provides automotive services through retail stores in the United States and Canada. It offers cabin air filter, battery replacement, and tire rotation services for various vehicles. As of September 30, 2022, it operated 1,700 system-wide service center stores. The company was founded in 1866 and is headquartered in Lexington, Kentucky.
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