Zacks Investment Research upgraded shares of WD-40 Company (NASDAQ:WDFC) from a hold rating to a buy rating in a research report sent to investors on Thursday, May 11th. Zacks Investment Research currently has $116.00 target price on the specialty chemicals company’s stock.
According to Zacks, “WD-40 Company sells a petroleum-based product, known as WD-40. WD-40 is a multi-purpose product which acts as a lubricant, rust preventative, penetrant, cleaner and moisture displacer. They also sell the 3-IN-ONE Oil. 3-IN-ONE Oil is a lower cost general purpose lubricant that is useful when precise applications of a lubricant are needed. “
Other research analysts also recently issued reports about the company. Jefferies Group LLC reaffirmed a hold rating and set a $110.00 price target on shares of WD-40 Company in a report on Friday, March 31st. B. Riley reaffirmed a neutral rating and set a $116.00 price target on shares of WD-40 Company in a report on Thursday, April 13th. Five investment analysts have rated the stock with a hold rating, The company has an average rating of Hold and a consensus target price of $111.00.
Shares of WD-40 Company (NASDAQ:WDFC) traded up 0.31% during midday trading on Thursday, hitting $111.85. The stock had a trading volume of 102,210 shares. The stock has a market cap of $1.57 billion, a PE ratio of 31.41 and a beta of 0.76. WD-40 Company has a 12 month low of $100.60 and a 12 month high of $125.00. The stock’s 50-day moving average is $105.88 and its 200-day moving average is $108.17.
WD-40 Company (NASDAQ:WDFC) last announced its quarterly earnings results on Thursday, April 6th. The specialty chemicals company reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by $0.03. The business had revenue of $96.50 million for the quarter, compared to the consensus estimate of $99.79 million. WD-40 Company had a net margin of 13.45% and a return on equity of 37.17%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.94 earnings per share. Equities analysts anticipate that WD-40 Company will post $3.66 EPS for the current year.
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In other WD-40 Company news, Director Mario L. Crivello sold 4,726 shares of the stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $104.25, for a total value of $492,685.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Jay Rembolt sold 618 shares of the stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $110.00, for a total value of $67,980.00. Following the completion of the transaction, the vice president now directly owns 36,837 shares in the company, valued at approximately $4,052,070. The disclosure for this sale can be found here. In the last three months, insiders sold 5,965 shares of company stock worth $627,734. 3.90% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue increased its position in WD-40 Company by 1.3% in the first quarter. State of Alaska Department of Revenue now owns 1,560 shares of the specialty chemicals company’s stock worth $169,000 after buying an additional 20 shares in the last quarter. Glen Harbor Capital Management LLC increased its position in WD-40 Company by 2.4% in the first quarter. Glen Harbor Capital Management LLC now owns 946 shares of the specialty chemicals company’s stock worth $103,000 after buying an additional 22 shares in the last quarter. Elkfork Partners LLC increased its position in WD-40 Company by 2.4% in the first quarter. Elkfork Partners LLC now owns 1,204 shares of the specialty chemicals company’s stock worth $131,000 after buying an additional 28 shares in the last quarter. Meadow Creek Investment Management LLC increased its position in WD-40 Company by 2.4% in the first quarter. Meadow Creek Investment Management LLC now owns 1,462 shares of the specialty chemicals company’s stock worth $159,000 after buying an additional 34 shares in the last quarter. Finally, United Capital Financial Advisers LLC increased its position in WD-40 Company by 1.4% in the fourth quarter. United Capital Financial Advisers LLC now owns 2,629 shares of the specialty chemicals company’s stock worth $307,000 after buying an additional 37 shares in the last quarter. 82.40% of the stock is currently owned by institutional investors.
WD-40 Company Company Profile
WD-40 Company is a global company engaged in developing and selling products, which solve problems in workshops, factories and homes. The Company’s segments include the Americas; Europe, Middle East and Africa (EMEA), and Asia-Pacific. The Company’s Americas segment includes the United States, Canada and Latin America.
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