Valaris (NYSE:VAL) Cut to "In-Line" at Evercore ISI

Valaris (NYSE:VAL - Get Free Report) was downgraded by equities researchers at Evercore ISI from an "outperform" rating to an "in-line" rating in a report issued on Wednesday, MarketBeat.com reports. They presently have a $59.00 target price on the stock, down from their previous target price of $87.00. Evercore ISI's price objective would suggest a potential upside of 19.12% from the stock's current price.

A number of other equities research analysts also recently weighed in on VAL. Susquehanna dropped their price target on shares of Valaris from $61.00 to $55.00 and set a "neutral" rating for the company in a research report on Friday, November 1st. Barclays reiterated an "equal weight" rating and set a $49.00 target price (down from $59.00) on shares of Valaris in a research report on Wednesday, December 18th. Citigroup cut Valaris from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $58.00 to $47.00 in a research report on Monday, December 9th. Benchmark cut shares of Valaris from a "buy" rating to a "hold" rating in a research report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. began coverage on shares of Valaris in a research note on Friday, December 6th. They set an "underweight" rating and a $40.00 price objective on the stock. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat.com, Valaris currently has a consensus rating of "Hold" and a consensus price target of $56.67.

Valaris Stock Performance

VAL traded up $1.18 during trading on Wednesday, hitting $49.53. The stock had a trading volume of 2,493,433 shares, compared to its average volume of 1,455,348. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.61 and a quick ratio of 1.61. The company has a 50 day moving average price of $45.59 and a 200-day moving average price of $55.99. Valaris has a one year low of $39.90 and a one year high of $84.20. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of 3.40 and a beta of 1.10.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in VAL. Quarry LP bought a new position in shares of Valaris in the 3rd quarter valued at $25,000. Choreo LLC acquired a new position in Valaris in the 2nd quarter worth about $204,000. Evergreen Capital Management LLC bought a new position in Valaris in the second quarter valued at about $204,000. Scientech Research LLC acquired a new stake in shares of Valaris during the second quarter valued at about $211,000. Finally, SkyView Investment Advisors LLC bought a new stake in shares of Valaris during the second quarter worth about $224,000. Institutional investors own 96.74% of the company's stock.

About Valaris

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.