Analysts Set Valaris Limited (NYSE:VAL) Target Price at $46.20

Valaris Limited (NYSE:VAL) has earned an average rating of “Hold” from the eight ratings firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $46.20.

A number of equities analysts have recently issued reports on VAL shares. Wall Street Zen upgraded Valaris to a “sell” rating in a report on Tuesday, May 13th. BTIG Research restated a “buy” rating on shares of Valaris in a research report on Monday, July 14th. Barclays increased their price target on shares of Valaris from $37.00 to $39.00 and gave the company an “equal weight” rating in a research report on Thursday, July 10th. Fearnley Fonds lowered shares of Valaris from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. Finally, Susquehanna upped their price objective on shares of Valaris from $46.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, August 1st.

Institutional Trading of Valaris

A number of institutional investors have recently made changes to their positions in VAL. Lowe Wealth Advisors LLC purchased a new position in shares of Valaris during the first quarter valued at approximately $28,000. Blume Capital Management Inc. lifted its position in shares of Valaris by 56.5% in the 2nd quarter. Blume Capital Management Inc. now owns 665 shares of the company’s stock worth $28,000 after purchasing an additional 240 shares during the period. Quarry LP lifted its position in shares of Valaris by 51.7% in the 4th quarter. Quarry LP now owns 684 shares of the company’s stock worth $30,000 after purchasing an additional 233 shares during the period. Sterling Capital Management LLC boosted its stake in shares of Valaris by 518.3% during the 4th quarter. Sterling Capital Management LLC now owns 742 shares of the company’s stock valued at $33,000 after purchasing an additional 622 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Valaris by 77.9% during the second quarter. Fifth Third Bancorp now owns 822 shares of the company’s stock valued at $35,000 after buying an additional 360 shares during the period. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Valaris Price Performance

VAL stock opened at $45.23 on Thursday. The firm has a 50 day simple moving average of $46.59 and a two-hundred day simple moving average of $40.93. The stock has a market cap of $3.22 billion, a PE ratio of 11.78 and a beta of 1.17. Valaris has a one year low of $27.15 and a one year high of $65.68. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.81 and a quick ratio of 1.81.

Valaris (NYSE:VAL) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.45. The company had revenue of $615.20 million during the quarter, compared to the consensus estimate of $582.70 million. Valaris had a net margin of 11.18% and a return on equity of 12.36%. The firm’s revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.03 EPS. On average, analysts predict that Valaris will post 3.96 EPS for the current fiscal year.

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.