Clorox (NYSE:CLX)‘s stock had its “hold” rating reaffirmed by investment analysts at Wells Fargo & Company in a note issued to investors on Wednesday. They presently have a $130.00 target price on the stock. Wells Fargo & Company’s price target suggests a potential downside of 11.33% from the company’s current price.
The analysts wrote, “We maintain our Market Perform rating. CLX Is Among The Best Positioned In Our Broader Staples Coverage Universe To Benefit From U.S. Tax Reform – Our detailed analysis of the pot’l reforms across broader Staples indicates that this could generate ~+20% EPS accretion for CLX if lowered from 35% to ~20%. We estimate that up to ~55% of this potential upside from pot’l corporate tax reform is currently priced into shares, implying further upside potential for CLX shares (possibly to ~$155-160/shr) if reforms are implemented. (For details on our quantification, please see p. 4). Continued Confidence in CLX’s FY18 Growth Outlook – Management reiterated its 1-3% FY18 sales growth guidance (we continue to estimate +2.3%). Sales growth is still likely to sequentially moderate in F2Q vs. FQ1 due to: (1) Tougher y/y comparisons; (2) A reversal of hurricane-related sales pull-forward; and (3) A slowdown in the Wipes business as CLX takes pricing.””
A number of other equities analysts also recently weighed in on the stock. Deutsche Bank began coverage on shares of Clorox in a report on Wednesday. They set a “hold” rating on the stock. Consumer Edge upgraded shares of Clorox from a “neutral” rating to an “outperform” rating in a report on Friday, November 10th. Zacks Investment Research upgraded shares of Clorox from a “sell” rating to a “hold” rating in a report on Monday, November 6th. Morgan Stanley lowered their target price on shares of Clorox from $138.00 to $128.00 and set an “equal weight” rating on the stock in a report on Thursday, November 2nd. Finally, Jefferies Group restated a “hold” rating and set a $132.00 target price on shares of Clorox in a report on Wednesday, November 1st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $128.67.
Clorox (NYSE:CLX) last issued its earnings results on Wednesday, November 1st. The company reported $1.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.41 by $0.05. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.48 billion. Clorox had a net margin of 11.84% and a return on equity of 161.59%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.36 earnings per share. analysts predict that Clorox will post 5.6 earnings per share for the current year.
In other Clorox news, SVP Matthew T. Laszlo sold 20,051 shares of the company’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $130.46, for a total value of $2,615,853.46. Following the transaction, the senior vice president now directly owns 10,896 shares in the company, valued at $1,421,492.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Michael R. Costello sold 10,574 shares of the company’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $136.01, for a total transaction of $1,438,169.74. Following the completion of the transaction, the senior vice president now owns 34,867 shares in the company, valued at $4,742,260.67. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in the business. Jacobi Capital Management LLC grew its stake in shares of Clorox by 0.3% in the second quarter. Jacobi Capital Management LLC now owns 1,286 shares of the company’s stock valued at $172,000 after acquiring an additional 4 shares in the last quarter. Valley National Advisers Inc. grew its stake in shares of Clorox by 0.6% in the second quarter. Valley National Advisers Inc. now owns 865 shares of the company’s stock valued at $115,000 after acquiring an additional 5 shares in the last quarter. Bernzott Capital Advisors grew its stake in shares of Clorox by 0.4% in the second quarter. Bernzott Capital Advisors now owns 1,607 shares of the company’s stock valued at $214,000 after acquiring an additional 7 shares in the last quarter. Financial Advisory Service Inc. grew its stake in shares of Clorox by 0.3% in the second quarter. Financial Advisory Service Inc. now owns 4,012 shares of the company’s stock valued at $535,000 after acquiring an additional 12 shares in the last quarter. Finally, Moors & Cabot Inc. grew its stake in shares of Clorox by 1.2% in the second quarter. Moors & Cabot Inc. now owns 2,557 shares of the company’s stock valued at $339,000 after acquiring an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 73.42% of the company’s stock.
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Clorox Company Profile
The Clorox Company is a manufacturer and marketer of consumer and professional products. The Company sells its products primarily through mass retail outlets, e-commerce channels, wholesale distributors and medical supply distributors. The Company operates through four segments: Cleaning, Household, Lifestyle and International.
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