Raymond James & Associates Buys 19,091 Shares of Valvoline Inc. (NYSE:VVV)

Raymond James & Associates raised its holdings in Valvoline Inc. (NYSE:VVV - Free Report) by 10.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 199,152 shares of the basic materials company's stock after buying an additional 19,091 shares during the period. Raymond James & Associates owned about 0.15% of Valvoline worth $8,335,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in VVV. Inspire Advisors LLC bought a new position in Valvoline in the 1st quarter valued at about $237,000. Sei Investments Co. boosted its stake in Valvoline by 23.7% in the 1st quarter. Sei Investments Co. now owns 554,416 shares of the basic materials company's stock valued at $24,710,000 after purchasing an additional 106,151 shares during the period. Capstone Investment Advisors LLC acquired a new position in Valvoline in the 1st quarter valued at $1,846,000. Tidal Investments LLC increased its position in Valvoline by 97.6% during the 1st quarter. Tidal Investments LLC now owns 29,843 shares of the basic materials company's stock worth $1,330,000 after buying an additional 14,739 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its position in Valvoline by 28.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 126,232 shares of the basic materials company's stock worth $5,453,000 after buying an additional 28,254 shares during the period. 96.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on VVV shares. Wells Fargo & Company reduced their target price on shares of Valvoline from $50.00 to $46.00 and set an "overweight" rating for the company in a research report on Thursday, August 8th. Baird R W raised shares of Valvoline to a "strong-buy" rating in a report on Thursday, August 15th. Robert W. Baird assumed coverage on Valvoline in a research note on Thursday, August 15th. They set an "outperform" rating and a $48.00 price objective on the stock. Stephens initiated coverage on Valvoline in a report on Tuesday, October 15th. They set an "overweight" rating and a $49.00 target price on the stock. Finally, Royal Bank of Canada dropped their price target on Valvoline from $54.00 to $48.00 and set an "outperform" rating for the company in a research note on Thursday, August 8th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $47.75.

Valvoline Price Performance

Shares of VVV stock traded down $1.17 on Wednesday, reaching $40.45. The company had a trading volume of 995,975 shares, compared to its average volume of 1,187,106. The business's 50-day moving average is $41.22 and its 200 day moving average is $42.03. Valvoline Inc. has a one year low of $29.15 and a one year high of $48.26. The company has a quick ratio of 0.62, a current ratio of 0.73 and a debt-to-equity ratio of 10.57. The stock has a market capitalization of $5.21 billion, a PE ratio of 33.03 and a beta of 1.45.

Valvoline (NYSE:VVV - Get Free Report) last issued its earnings results on Wednesday, August 7th. The basic materials company reported $0.45 earnings per share for the quarter, missing analysts' consensus estimates of $0.48 by ($0.03). The company had revenue of $421.00 million during the quarter, compared to analyst estimates of $425.17 million. Valvoline had a net margin of 10.45% and a return on equity of 182.88%. The business's quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.43 EPS. Equities research analysts forecast that Valvoline Inc. will post 1.53 EPS for the current fiscal year.

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

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.