WD-40 (WDFC) Given a $120.00 Price Target at Jefferies Group

WD-40 (NASDAQ:WDFC) has been assigned a $120.00 price target by investment analysts at Jefferies Group in a research note issued to investors on Friday. The brokerage currently has a “hold” rating on the specialty chemicals company’s stock. Jefferies Group’s price target points to a potential downside of 6.72% from the company’s previous close. Jefferies Group also issued estimates for WD-40’s FY2018 earnings at $4.10 EPS, FY2019 earnings at $4.50 EPS and FY2020 earnings at $4.95 EPS.

Other equities analysts have also recently issued reports about the company. BidaskClub raised WD-40 from a “hold” rating to a “buy” rating in a research note on Friday, February 23rd. Zacks Investment Research cut WD-40 from a “buy” rating to a “hold” rating in a research note on Sunday, January 21st. Finally, B. Riley reissued a “hold” rating and set a $125.00 target price on shares of WD-40 in a research note on Thursday, January 18th. Four investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $128.75.

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WD-40 stock traded down $4.35 during trading hours on Friday, reaching $128.65. The company had a trading volume of 159,160 shares, compared to its average volume of 65,773. The company has a debt-to-equity ratio of 1.05, a current ratio of 3.90 and a quick ratio of 3.29. The stock has a market capitalization of $1,858.57, a P/E ratio of 34.58, a price-to-earnings-growth ratio of 3.38 and a beta of 0.54. WD-40 has a 12-month low of $100.60 and a 12-month high of $134.45.

WD-40 (NASDAQ:WDFC) last announced its quarterly earnings results on Thursday, April 5th. The specialty chemicals company reported $1.05 EPS for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.10. The business had revenue of $101.30 million for the quarter, compared to analysts’ expectations of $102.49 million. WD-40 had a return on equity of 40.28% and a net margin of 14.29%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.87 EPS. sell-side analysts expect that WD-40 will post 3.94 earnings per share for the current fiscal year.

In related news, insider Michael L. Freeman sold 4,861 shares of WD-40 stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $119.58, for a total transaction of $581,278.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Geoffrey Holdsworth sold 1,690 shares of WD-40 stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $126.85, for a total value of $214,376.50. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WDFC. New York State Common Retirement Fund boosted its position in shares of WD-40 by 10.1% during the third quarter. New York State Common Retirement Fund now owns 17,560 shares of the specialty chemicals company’s stock valued at $1,965,000 after purchasing an additional 1,608 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of WD-40 during the third quarter valued at approximately $118,000. American International Group Inc. boosted its position in shares of WD-40 by 5.7% during the third quarter. American International Group Inc. now owns 10,968 shares of the specialty chemicals company’s stock valued at $1,227,000 after purchasing an additional 588 shares in the last quarter. Legal & General Group Plc boosted its position in shares of WD-40 by 2.3% during the third quarter. Legal & General Group Plc now owns 27,721 shares of the specialty chemicals company’s stock valued at $3,102,000 after purchasing an additional 615 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of WD-40 by 2.4% during the third quarter. Wells Fargo & Company MN now owns 199,447 shares of the specialty chemicals company’s stock valued at $22,318,000 after purchasing an additional 4,581 shares in the last quarter. Institutional investors own 85.92% of the company’s stock.

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WD-40 Company Profile

WD-40 Company engages in the development and sale of maintenance products, and homecare and cleaning products. It offers multi-purpose maintenance products, including aerosol sprays, non-aerosol trigger sprays, and in liquid-bulk form products under the WD-40 Multi-Use brand name for various consumer uses; specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand name; and bicycle maintenance products under the WD-40 Bike brand name comprising wet and dry chain lubricants, chain cleaners and degreasers, and foaming wash products that are designed for avid and recreational cyclists, bike enthusiasts, and mechanics.

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