Stock Alert: Valvoline Adds 8% On Higher Sales

(RTTNews) - Shares of premium branded lubricants and automotive services provider, Valvoline Inc. (VVV) are rising more than 8% Wednesday morning after the company announced that its sales in June increased sequentially across all segments.

Preliminary sales in the month increased 33% over the previous month and Lubricant volume increased 32% as compared to last month, Valvoline said.

"While we continue to closely monitor recent COVID-19 trends, I remain encouraged about the outlook for the balance of the fiscal year given the same-store sales performance in June and the planned increase in marketing spending beginning in July," said Sam Mitchell, CEO.

Valvoline stock is currently trading at $20.56, close to its 52-week high of $23.90.