Valaris (NYSE:VAL) Rating Lowered to In-Line at Evercore ISI

Evercore ISI downgraded shares of Valaris (NYSE:VAL) from an outperform rating to an in-line rating in a research report report published on Wednesday, Marketbeat reports. Evercore ISI currently has $59.00 target price on the stock, down from their previous target price of $87.00.

Several other equities research analysts have also commented on VAL. Barclays restated an “equal weight” rating and issued a $49.00 price target (down previously from $59.00) on shares of Valaris in a research note on Wednesday, December 18th. Benchmark lowered shares of Valaris from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. 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. Susquehanna lowered their price objective on shares of Valaris from $61.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Finally, Citigroup lowered shares of Valaris from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $58.00 to $47.00 in a research note on Monday, December 9th. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat.com, Valaris presently has a consensus rating of “Hold” and an average target price of $56.67.

Valaris Stock Performance

Shares of NYSE VAL opened at $49.53 on Wednesday. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.51. The firm’s 50-day moving average price is $45.59 and its two-hundred day moving average price is $55.99. Valaris has a 52-week low of $39.90 and a 52-week high of $84.20. The stock has a market capitalization of $3.52 billion, a P/E ratio of 3.40 and a beta of 1.10.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. raised its holdings in shares of Valaris by 5.0% during the 2nd quarter. Victory Capital Management Inc. now owns 5,080 shares of the company’s stock valued at $378,000 after purchasing an additional 243 shares in the last quarter. Deane Retirement Strategies Inc. raised its holdings in shares of Valaris by 0.6% during the 3rd quarter. Deane Retirement Strategies Inc. now owns 40,504 shares of the company’s stock valued at $2,259,000 after purchasing an additional 251 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Valaris by 0.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 73,525 shares of the company’s stock valued at $5,478,000 after purchasing an additional 427 shares in the last quarter. Quarry LP bought a new position in shares of Valaris during the 3rd quarter valued at $25,000. Finally, Saturna Capital Corp raised its holdings in Valaris by 4.8% in the 3rd quarter. Saturna Capital Corp now owns 13,290 shares of the company’s stock worth $741,000 after acquiring an additional 604 shares during the period. Institutional investors own 96.74% of the company’s stock.

Valaris Company Profile

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.