Valaris (NYSE:VAL) Price Target Raised to $52.00

Key Points

• Susquehanna upgraded Valaris' price target from $46.00 to $52.00, indicating a potential upside of 16.81% from its previous close.
• Valaris reported $1.61 earnings per share for the latest quarter, exceeding estimates by $0.45, with revenues of $615.20 million.
• Currently, Valaris has a consensus rating of "Hold" from analysts, with a mix of ratings including two sell ratings, five hold ratings, and one buy rating.

Valaris (NYSE:VAL - Get Free Report) had its target price increased by research analysts at Susquehanna from $46.00 to $52.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Susquehanna's price target suggests a potential upside of 8.79% from the stock's previous close.

Several other research firms have also weighed in on VAL. Evercore ISI lowered their price objective on shares of Valaris from $55.00 to $50.00 and set an "in-line" rating for the company in a research note on Friday, May 2nd. Barclays boosted their price target on shares of Valaris from $37.00 to $39.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. BTIG Research restated a "buy" rating on shares of Valaris in a research note on Monday, July 14th. Citigroup restated a "neutral" rating and issued a $50.00 price objective (up from $47.00) on shares of Valaris in a research report on Thursday, July 10th. Finally, Wall Street Zen raised Valaris to a "sell" rating in a research note on Tuesday, May 13th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $53.50.

Valaris Trading Up 4.9%

NYSE VAL traded up $2.22 during trading on Friday, reaching $47.80. 1,406,495 shares of the stock traded hands, compared to its average volume of 1,796,597. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of 12.45 and a beta of 1.17. Valaris has a fifty-two week low of $27.15 and a fifty-two week high of $66.83. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.46. The stock's 50-day moving average price is $45.23 and its 200 day moving average price is $40.97.

Valaris (NYSE:VAL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.45. Valaris had a net margin of 11.18% and a return on equity of 12.36%. The company had revenue of $615.20 million for the quarter, compared to analyst estimates of $582.70 million. During the same period in the prior year, the firm earned $2.03 earnings per share. The company's revenue was up .8% on a year-over-year basis. Analysts predict that Valaris will post 3.96 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Lowe Wealth Advisors LLC purchased a new position in Valaris during the first quarter valued at approximately $28,000. Blume Capital Management Inc. boosted its stake in Valaris by 56.5% during the second quarter. Blume Capital Management Inc. now owns 665 shares of the company's stock worth $28,000 after buying an additional 240 shares during the last quarter. Quarry LP boosted its stake in Valaris by 51.7% during the fourth quarter. Quarry LP now owns 684 shares of the company's stock worth $30,000 after buying an additional 233 shares during the last quarter. Sterling Capital Management LLC boosted its stake in Valaris by 518.3% during the fourth quarter. Sterling Capital Management LLC now owns 742 shares of the company's stock worth $33,000 after buying an additional 622 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in Valaris by 77.9% in the second quarter. Fifth Third Bancorp now owns 822 shares of the company's stock valued at $35,000 after purchasing an additional 360 shares during the period. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

About Valaris

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.