WD-40 (WDFC) Stock Rating Lowered by Zacks Investment Research

WD-40 (NASDAQ:WDFC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Saturday.

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. “

Separately, BidaskClub lowered WD-40 from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $149.67.

WDFC traded down $1.23 on Friday, hitting $174.68. The company had a trading volume of 82,465 shares, compared to its average volume of 97,074. WD-40 has a 12-month low of $115.55 and a 12-month high of $184.25. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.96 and a quick ratio of 1.53. The firm has a market capitalization of $2.43 billion, a PE ratio of 42.30, a price-to-earnings-growth ratio of 3.91 and a beta of 0.52.

WD-40 (NASDAQ:WDFC) last posted its earnings results on Thursday, October 18th. The specialty chemicals company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.55. WD-40 had a return on equity of 38.51% and a net margin of 15.96%. The company had revenue of $102.60 million for the quarter. During the same quarter last year, the firm earned $1.01 EPS. WD-40’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, sell-side analysts expect that WD-40 will post 4.5 EPS for the current year.

In other news, insider Michael L. Freeman sold 5,386 shares of the business’s stock in a transaction dated Wednesday, November 14th. The stock was sold at an average price of $169.23, for a total transaction of $911,472.78. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Stanley Sewitch, Jr. sold 2,167 shares of the business’s stock in a transaction dated Thursday, October 25th. The stock was sold at an average price of $163.80, for a total value of $354,954.60. The disclosure for this sale can be found here. Insiders sold 15,720 shares of company stock worth $2,630,634 in the last quarter. 2.09% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of WDFC. Principal Financial Group Inc. grew its stake in shares of WD-40 by 2.8% during the first quarter. Principal Financial Group Inc. now owns 112,123 shares of the specialty chemicals company’s stock worth $14,767,000 after acquiring an additional 3,074 shares during the last quarter. Aperio Group LLC grew its stake in shares of WD-40 by 5.3% during the second quarter. Aperio Group LLC now owns 12,376 shares of the specialty chemicals company’s stock worth $1,810,000 after acquiring an additional 625 shares during the last quarter. First Trust Advisors LP grew its stake in shares of WD-40 by 26.9% during the second quarter. First Trust Advisors LP now owns 38,086 shares of the specialty chemicals company’s stock worth $5,570,000 after acquiring an additional 8,068 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of WD-40 by 15.9% during the second quarter. Victory Capital Management Inc. now owns 4,073 shares of the specialty chemicals company’s stock worth $596,000 after acquiring an additional 558 shares during the last quarter. Finally, Virginia Retirement Systems ET AL purchased a new stake in shares of WD-40 during the second quarter worth about $804,000. Institutional investors and hedge funds own 89.37% 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.

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