Valvoline (NYSE:VVV) closes share gap after earnings miss

Valvoline Inc stock price (NYSE:VVV – Get Free Report ) fell before the market opened Wednesday after the company reported weaker-than-expected quarterly earnings. The stock had previously closed at $43.00 but opened at $39.88. Valvoline stock last traded at $39.22 with a volume of 458,732 shares.

The basic materials company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.04). The firm had revenue of $421.00 million during the quarter, compared to analyst estimates of $425.17 million. Valvoline had a net margin of 11.78% and a return on equity of 136.59%. Valvoline’s revenue was up 11.9% compared to the same quarter last year. During the same period last year, the company posted earnings of $0.43 per share.

Analysts set new price targets

A number of research firms recently issued reports on VVV. Royal Bank of Canada cut their price target on Valvoline from $54.00 to $48.00 and set an “outperform” rating on the stock in a report on Thursday. Citigroup raised their target price on Valvoline from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Wells Fargo & Company cut their price target on Valvoline from $50.00 to $46.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Piper Sandler initiated coverage on shares of Valvoline in a research report on Wednesday, June 12th. They issued an “overweight” rating and a $49.00 price objective on the stock. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Valvoline has a consensus rating of “Moderate Buy” and a consensus price target of $44.75, based on data from MarketBeat.com.

Get the latest report on Valvoline

Institutional inputs and outputs

Several large investors have recently bought and sold shares of the business. Oppenheimer Asset Management Inc. boosted its position in shares of 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 in the last quarter. Federated Hermes Inc. boosted its holdings in Valvoline by 29.7% in the second quarter. Federated Hermes Inc. now owns 14,237 shares of the basic materials company’s stock worth $615,000 after buying an additional 3,263 shares in the last quarter. Meeder Asset Management Inc. raised its position in Valvoline by 54.5% in the second quarter. Meeder Asset Management Inc. now owns 15,998 shares of the basic materials company’s stock worth $691,000 after buying an additional 5,644 shares during the period. Mawer Investment Management Ltd. boosted its holdings in Valvoline by 40.5% in the second quarter. Mawer Investment Management Ltd. now owns 424,327 shares of the basic materials company’s stock valued at $18,331,000 after buying an additional 122,344 shares during the last quarter. Finally, Texas Permanent School Fund Corp lifted its position in shares of Valvoline by 22.8% during the second quarter. Texas Permanent School Fund Corp now owns 139,352 shares of the basic materials company’s stock valued at $6,020,000 after acquiring an additional 25,885 shares during the period. Hedge funds and other institutional investors own 96.13% of the company’s shares.

Valvoline price performance

The firm has a market cap of $5.12 billion, a PE ratio of 31.56 and a beta of 1.43. The company has a current ratio of 0.73, a quick ratio of 0.69, and a debt-to-equity ratio of 15.83. The company has a 50-day moving average price of $43.28 and a 200-day moving average price of $42.18.

Valvoline Company Profile

(Get a free report)

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 engine oil, transmission and differential fluid, and coolant; replacement parts for batteries, filters, wiper blades and belts; and safety services such as tire inflation and rotation, light bulbs and safety checks.

Further reading

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