Valaris (NYSE:VAL) Price Target Raised to $39.00

Valaris (NYSE:VAL - Get Free Report) had its target price increased by analysts at Barclays from $37.00 to $39.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Barclays's price objective would suggest a potential downside of 22.31% from the company's current price.

Several other research firms have also commented on VAL. Citigroup reiterated a "neutral" rating and set a $50.00 price target (up previously from $47.00) on shares of Valaris in a report on Thursday. Susquehanna lifted their price target on Valaris from $40.00 to $46.00 and gave the stock a "neutral" rating in a report on Tuesday, July 1st. Wall Street Zen upgraded Valaris to a "sell" rating in a report on Tuesday, May 13th. Finally, Evercore ISI reduced their price target on Valaris from $55.00 to $50.00 and set an "in-line" rating on the stock in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $52.50.

Valaris Stock Performance

Valaris stock traded down $0.36 during mid-day trading on Thursday, hitting $50.20. The company had a trading volume of 243,674 shares, compared to its average volume of 1,615,363. Valaris has a 12-month low of $27.15 and a 12-month high of $84.20. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of 11.77 and a beta of 1.15. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.49. The company's fifty day moving average is $41.50 and its 200-day moving average is $40.62.

Valaris (NYSE:VAL - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.10 by ($1.63). Valaris had a net margin of 12.61% and a return on equity of 14.14%. The company had revenue of $620.70 million during the quarter, compared to analyst estimates of $582.87 million. Valaris's quarterly revenue was up 6.2% on a year-over-year basis. Equities research analysts predict that Valaris will post 3.96 EPS for the current year.

Hedge Funds Weigh In On Valaris

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its stake in Valaris by 44,165.8% in the first quarter. GAMMA Investing LLC now owns 53,119 shares of the company's stock valued at $2,085,000 after buying an additional 52,999 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Valaris during the fourth quarter worth $875,000. Deutsche Bank AG boosted its position in shares of Valaris by 94.7% in the 4th quarter. Deutsche Bank AG now owns 207,291 shares of the company's stock worth $9,171,000 after buying an additional 100,812 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Valaris by 14.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 143,399 shares of the company's stock worth $6,344,000 after buying an additional 18,107 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Valaris by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 6,454,159 shares of the company's stock worth $285,532,000 after buying an additional 23,509 shares in the last quarter. 96.74% of the stock is owned by institutional investors and hedge funds.

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.