Park Place Capital Corp Decreases Stake in Valvoline Inc. (NYSE:VVV)

Park Place Capital Corp lowered its stake in Valvoline Inc. (NYSE:VVV) by 34.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,244 shares of the basic materials company’s stock after selling 642 shares during the period. Park Place Capital Corp’s holdings in Valvoline were worth $54,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in VVV. GAMMA Investing LLC purchased a new position in shares of Valvoline in the fourth quarter worth $35,000. Principal Securities Inc. purchased a new position in shares of Valvoline in the fourth quarter worth $39,000. Meeder Asset Management Inc. purchased a new position in shares of Valvoline in the fourth quarter worth $57,000. Fifth Third Bancorp raised its holdings in shares of Valvoline by 20.3% in the fourth quarter. Fifth Third Bancorp now owns 1,876 shares of the basic materials company’s stock worth $70,000 after buying an additional 316 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in shares of Valvoline by 23.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,940 shares of the basic materials company’s stock worth $73,000 after buying an additional 364 shares during the last quarter. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on VVV. Royal Bank of Canada reissued an “outperform” rating and set a $48.00 target price on shares of Valvoline in a report on Friday, June 7th. Piper Sandler began coverage on shares of Valvoline in a report on Wednesday, June 12th. They set an “overweight” rating and a $49.00 target price for the company. Finally, Citigroup raised their target price on shares of Valvoline from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $44.25.

Valvoline Stock Performance

VVV traded down $1.16 on Friday, reaching $44.83. The stock had a trading volume of 1,270,037 shares, compared to its average volume of 1,278,611. Valvoline Inc. has a 12-month low of $29.15 and a 12-month high of $48.26. 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 business’s 50-day moving average price is $43.20 and its two-hundred day moving average price is $42.11. The company has a market cap of $5.78 billion, a P/E ratio of 35.58 and a beta of 1.43.

Valvoline (NYSE:VVV) last released its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. Valvoline had a net margin of 11.78% and a return on equity of 136.59%. The company had revenue of $388.70 million during the quarter, compared to analysts’ expectations of $390.75 million. During the same quarter in the previous year, the company earned $0.23 earnings per share. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. Sell-side analysts forecast that Valvoline Inc. will post 1.61 earnings per share for the current year.

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.