Wells Fargo & Company Has Lowered Expectations for Clorox (NYSE:CLX) Stock Price

Clorox (NYSE:CLX) had its target price dropped by equities researchers at Wells Fargo & Company from $90.00 to $85.00 in a report released on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 1.80% from the stock’s previous close.

Several other equities analysts also recently weighed in on the company. Wall Street Zen downgraded Clorox from a “hold” rating to a “sell” rating in a research report on Saturday. JPMorgan Chase & Co. increased their price target on shares of Clorox from $92.00 to $95.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 4th. BNP Paribas Exane lowered their price objective on shares of Clorox from $97.00 to $95.00 and set a “neutral” rating for the company in a research note on Monday, July 20th. Zacks Research upgraded shares of Clorox from a “strong sell” rating to a “hold” rating in a report on Monday, September 14th. Finally, Citigroup cut their target price on shares of Clorox from $100.00 to $97.00 and set a “neutral” rating on the stock in a research note on Friday, September 11th. Thirteen investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, Clorox presently has a consensus rating of “Reduce” and an average target price of $101.07.

Clorox Stock Up 1.8%

Shares of NYSE CLX opened at $83.50 on Monday. The firm has a market cap of $10.10 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 2.58 and a beta of 0.59. The company has a quick ratio of 0.38, a current ratio of 0.66 and a debt-to-equity ratio of 15.80. Clorox has a 52-week low of $79.12 and a 52-week high of $128.90. The business’s 50 day moving average is $94.98 and its two-hundred day moving average is $96.34.

Clorox (NYSE:CLX) last released its quarterly earnings results on Monday, August 3rd. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.64 by $0.02. Clorox had a return on equity of 522.23% and a net margin of 8.74%.The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period last year, the business posted $2.87 earnings per share. The company’s quarterly revenue was down 2.0% on a year-over-year basis. Clorox has set its FY 2027 guidance at 5.700-6.000 EPS. Research analysts predict that Clorox will post 5.77 EPS for the current year.

Hedge Funds Weigh In On Clorox

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Ancora Advisors LLC purchased a new position in Clorox in the second quarter worth approximately $28,000. Avalon Trust Co purchased a new stake in shares of Clorox in the 2nd quarter valued at approximately $29,000. Markowski Investments acquired a new stake in shares of Clorox in the 2nd quarter valued at $30,000. Root Financial Partners LLC lifted its position in shares of Clorox by 83.8% during the 1st quarter. Root Financial Partners LLC now owns 318 shares of the company’s stock worth $33,000 after purchasing an additional 145 shares during the last quarter. Finally, SHP Wealth Management purchased a new stake in shares of Clorox during the 4th quarter worth $35,000. 78.53% of the stock is owned by institutional investors and hedge funds.

About Clorox

The Clorox Company is a consumer and professional products company that develops, manufactures and markets household cleaning, disinfecting, wellness and personal care products. Its portfolio includes the Clorox bleach and cleaning brands, as well as products sold under brands such as Pine-Sol, Liquid-Plumr, Fresh Step, Scoop Away, Kingsford, Hidden Valley, Burt’s Bees and Brita.

Clorox also offers trash bags, food products, water-filtration systems, charcoal and grilling products, cat litter, and professional cleaning and disinfecting solutions.