Valvoline (NYSE:VVV) Stock Price Up 8.6% After Earnings Beat
by Jessica Moore · The Cerbat GemValvoline (NYSE:VVV – Get Free Report) shares were up 8.6% on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $36.38 and last traded at $36.1450. Approximately 979,961 shares traded hands during trading, a decline of 50% from the average daily volume of 1,965,430 shares. The stock had previously closed at $33.29.
The basic materials company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.03. The firm had revenue of $461.80 million during the quarter, compared to the consensus estimate of $466.87 million. Valvoline had a net margin of 12.32% and a return on equity of 72.49%. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.32 EPS.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on the stock. Robert W. Baird decreased their target price on shares of Valvoline from $44.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, November 20th. Stifel Nicolaus dropped their target price on shares of Valvoline from $42.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, November 20th. Wells Fargo & Company upped their price objective on Valvoline from $36.00 to $38.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 27th. Weiss Ratings restated a “hold (c-)” rating on shares of Valvoline in a research note on Monday, December 29th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Valvoline from $38.00 to $30.00 and set a “neutral” rating for the company in a research report on Thursday, November 20th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.81.
View Our Latest Research Report on VVV
Insider Transactions at Valvoline
In related news, insider Julie Marie O’daniel sold 3,200 shares of Valvoline stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $31.88, for a total transaction of $102,016.00. Following the completion of the sale, the insider owned 17,251 shares in the company, valued at $549,961.88. This trade represents a 15.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Lori Ann Flees purchased 4,500 shares of the firm’s stock in a transaction dated Monday, November 24th. The shares were bought at an average cost of $30.82 per share, with a total value of $138,690.00. Following the purchase, the chief executive officer directly owned 69,267 shares of the company’s stock, valued at approximately $2,134,808.94. This represents a 6.95% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.66% of the company’s stock.
Institutional Trading of Valvoline
Hedge funds have recently added to or reduced their stakes in the business. Community Bank N.A. purchased a new stake in shares of Valvoline in the 3rd quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd lifted its holdings in Valvoline by 1,621.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,050 shares of the basic materials company’s stock worth $38,000 after buying an additional 989 shares during the period. Bayforest Capital Ltd purchased a new stake in Valvoline during the third quarter worth $39,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Valvoline in the 2nd quarter valued at $43,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Valvoline by 90.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,458 shares of the basic materials company’s stock worth $55,000 after acquiring an additional 691 shares in the last quarter. 96.13% of the stock is owned by hedge funds and other institutional investors.
Valvoline Trading Up 7.7%
The company has a 50-day moving average price of $31.07 and a 200 day moving average price of $34.26. The stock has a market capitalization of $4.56 billion, a P/E ratio of 21.84 and a beta of 1.19. The company has a current ratio of 0.70, a quick ratio of 0.58 and a debt-to-equity ratio of 3.10.
Valvoline Company Profile
Valvoline (NYSE: VVV) is a leading global producer and distributor of automotive and industrial lubricants. The company’s portfolio spans engine oils, gear oils, transmission fluids, greases, coolants and driveline products, all designed to help improve vehicle performance and longevity. Valvoline’s products are marketed under the Valvoline®, Valvoline NextGen® and Valvoline™ SynPower® brand names and are formulated to meet the stringent requirements of passenger cars, light trucks, heavy‐duty vehicles and off‐road applications.
In addition to its core lubricant business, Valvoline operates one of North America’s largest quick‐lubricant service networks through Valvoline Instant Oil Change℠ (VIOC).