Zacks Investment Research Upgrades WD-40 (NASDAQ:WDFC) to Buy

Share on StockTwits

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.

Shares of NASDAQ:WDFC opened at $175.22 on Friday. The stock has a market capitalization of $2.44 billion, a P/E ratio of 42.43, a P/E/G ratio of 3.83 and a beta of 0.28. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.39 and a current ratio of 1.90. WD-40 has a 52 week low of $149.38 and a 52 week high of $187.50. The firm has a fifty day simple moving average of $162.74.

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.

About WD-40

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.

Recommended Story: What is a front-end load?

Get a free copy of the Zacks research report on WD-40 (WDFC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for WD-40 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WD-40 and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Clearside Biomedical  Rating Increased to Strong-Buy at Zacks Investment Research
Clearside Biomedical Rating Increased to Strong-Buy at Zacks Investment Research
Cellectis  Downgraded by Zacks Investment Research to “Sell”
Cellectis Downgraded by Zacks Investment Research to “Sell”
Investment Analysts’ Updated EPS Estimates for August, 16th
Investment Analysts’ Updated EPS Estimates for August, 16th
Celsius  Downgraded by Zacks Investment Research
Celsius Downgraded by Zacks Investment Research
Analysts’ Downgrades for August, 16th
Analysts’ Downgrades for August, 16th
Comtech Telecomm.  Rating Lowered to Hold at Zacks Investment Research
Comtech Telecomm. Rating Lowered to Hold at Zacks Investment Research


© 2006-2019 Ticker Report