WD-40 (NASDAQ:WDFC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Sunday, Zacks.com reports. The brokerage currently has a $181.00 target price on the specialty chemicals company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 3.30% from the company’s current price.
According to Zacks, “WD-40 Company is a tribe of passionate, committed professionals, all dedicated to the same goal: to create positive lasting memories in every interaction they have. They’re a global marketing organization dedicated to creating positive lasting memories by developing and selling products that solve problems in workshops, factories and homes around the world. They offer multi-purpose maintenance products, including aerosol sprays, non-aerosol trigger sprays, and in liquid form under the WD-40 Multi-Use brand for various consumer uses; and specialty maintenance products that comprise penetrants, degreasers, corrosion inhibitors, lubricants, and rust removers under the WD-40 Specialist brand name. The company also provides products under the WD-40 Bike product brand consisting of wet and dry chain lubricants, heavy-duty degreasers, and foaming wash products for avid and recreational cyclists, bike enthusiasts, and mechanics; multi-purpose and specialty drip oils, and spray lubricant products. “
A number of other equities research analysts also recently commented on WDFC. BidaskClub downgraded Waterstone Financial from a “hold” rating to a “sell” rating in a research report on Friday, June 21st. ValuEngine downgraded Zions Bancorporation NA from a “hold” rating to a “sell” rating in a research report on Wednesday, March 20th.
WD-40 (NASDAQ:WDFC) last announced its quarterly earnings data on Tuesday, July 9th. The specialty chemicals company reported $1.30 EPS for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.08. The business had revenue of $114.00 million during the quarter, compared to the consensus estimate of $109.40 million. WD-40 had a return on equity of 40.12% and a net margin of 16.45%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.15 earnings per share. Research analysts forecast that WD-40 will post 4.65 earnings per share for the current year.
In related news, insider Steven A. Brass sold 822 shares of WD-40 stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $164.30, for a total value of $135,054.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel E. Pittard bought 400 shares of WD-40 stock in a transaction that occurred on Thursday, April 18th. The stock was purchased at an average price of $165.00 per share, for a total transaction of $66,000.00. The disclosure for this purchase can be found here. 2.09% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the stock. Nalls Sherbakoff Group LLC acquired a new position in WD-40 in the fourth quarter valued at $30,000. WP Advisors LLC acquired a new position in WD-40 in the first quarter valued at $35,000. Capital Investment Advisory Services LLC boosted its holdings in WD-40 by 56.7% in the first quarter. Capital Investment Advisory Services LLC now owns 282 shares of the specialty chemicals company’s stock valued at $48,000 after acquiring an additional 102 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in WD-40 by 12,500.0% in the first quarter. Quadrant Capital Group LLC now owns 504 shares of the specialty chemicals company’s stock valued at $83,000 after acquiring an additional 500 shares during the last quarter. Finally, Advisory Services Network LLC boosted its holdings in WD-40 by 12.6% in the first quarter. Advisory Services Network LLC now owns 618 shares of the specialty chemicals company’s stock valued at $105,000 after acquiring an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 89.27% of the company’s stock.
WD-40 Company develops and sells maintenance products, and homecare and cleaning products in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company 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 and industrial applications; specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand; and bicycle maintenance products comprising wet and dry chain lubricants, chain cleaners and degreasers, and foaming wash products for avid and recreational cyclists, bike enthusiasts, and mechanics under the WD-40 Bike brand name.
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