Clorox (NYSE:CLX) Receives “Hold” Rating from Wells Fargo & Co

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Clorox (NYSE:CLX)‘s stock had its “hold” rating reiterated by Wells Fargo & Co in a research report issued to clients and investors on Friday, AnalystRatings.com reports. They presently have a $153.00 price objective on the stock. Wells Fargo & Co‘s price target indicates a potential downside of 3.20% from the company’s current price.

The analysts wrote, “We think the next few quarters could be choppy until CLX laps significant pricing & works through issues in Trash Bags/Wipes and therefore expect shares to remain range-bound n.t. We maintain our Market Perform rating.””

Other research analysts have also issued research reports about the company. BMO Capital Markets upgraded TMAC Resources from a “market perform” rating to an “outperform” rating in a report on Thursday, May 2nd. Zacks Investment Research upgraded DLH from a “sell” rating to a “hold” rating in a report on Tuesday, July 9th. Bank of America set a $54.00 price objective on Fortis and gave the company a “buy” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. set a $60.00 price objective on Bayerische Motoren Werke and gave the company a “sell” rating in a report on Monday, April 8th. Finally, Argus lowered Clorox from a “buy” rating to a “hold” rating in a report on Monday, May 20th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $148.43.

Shares of NYSE:CLX opened at $158.06 on Friday. Clorox has a 1 year low of $127.34 and a 1 year high of $167.70. The stock has a market cap of $20.13 billion, a price-to-earnings ratio of 25.83, a price-to-earnings-growth ratio of 4.44 and a beta of 0.38. The company has a quick ratio of 0.66, a current ratio of 1.10 and a debt-to-equity ratio of 2.93. The company’s 50 day simple moving average is $153.83.

Clorox (NYSE:CLX) last announced its earnings results on Wednesday, May 1st. The company reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.03). The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Clorox had a net margin of 12.68% and a return on equity of 108.82%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the business earned $1.37 EPS. As a group, analysts forecast that Clorox will post 6.29 earnings per share for the current year.

In other news, SVP Denise Garner sold 20,399 shares of Clorox stock in a transaction on Friday, June 7th. The stock was sold at an average price of $157.61, for a total transaction of $3,215,086.39. Following the transaction, the senior vice president now owns 4,896 shares in the company, valued at approximately $771,658.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.40% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. 6 Meridian increased its position in shares of Clorox by 2.6% during the 2nd quarter. 6 Meridian now owns 3,211 shares of the company’s stock worth $492,000 after purchasing an additional 80 shares during the last quarter. Altman Advisors Inc. increased its position in shares of Clorox by 22.9% during the 2nd quarter. Altman Advisors Inc. now owns 16,030 shares of the company’s stock worth $2,454,000 after purchasing an additional 2,982 shares during the last quarter. NN Investment Partners Holdings N.V. increased its position in shares of Clorox by 10.9% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 14,739 shares of the company’s stock worth $2,256,000 after purchasing an additional 1,446 shares during the last quarter. Xact Kapitalforvaltning AB increased its position in shares of Clorox by 7.1% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 22,994 shares of the company’s stock worth $3,521,000 after purchasing an additional 1,528 shares during the last quarter. Finally, Welch Group LLC acquired a new stake in shares of Clorox during the 2nd quarter worth about $102,000. Institutional investors and hedge funds own 77.55% of the company’s stock.

Clorox Company Profile

The Clorox Company manufactures and markets consumer and professional products worldwide. It operates through four segments: Cleaning, Household, Lifestyle, and International. The company offers laundry additives, including bleach products under the Clorox brand, as well as Clorox 2 stain fighter and color booster; home care products primarily under the Clorox, Formula 409, Liquid-Plumr, Pine-Sol, S.O.S, and Tilex brands; naturally derived products under the Green Works brand; and professional cleaning, disinfecting, and food service products under the Clorox, Dispatch, HealthLink, Clorox Healthcare, Hidden Valley, KC Masterpiece, and Soy Vay brands.

Further Reading: Cost of Debt

Analyst Recommendations for Clorox (NYSE:CLX)

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