Clorox Co. (NYSE:CLX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The brokerage currently has a $137.00 price target on the stock. Zacks Investment Research’s price objective points to a potential upside of 12.18% from the stock’s current price.
According to Zacks, “Clorox's solid brand portfolio places it well to sustain in the currently challenging environment. The company remains keen on the execution of its 2020 Strategy, which is aimed at boosting growth and overall market share. However, significant global presence exposes Clorox to foreign currency risks, which have been hurting its results for a while now. Going forward, these woes, tough year-over-year comparisons and a challenging macroeconomic environment may pose concerns. Additionally, stiff competition and high trade spending remain threats. Nonetheless, the company’s key strategies, cost saving efforts and efficient pricing bode well, as they are likely to drive margins. These factors also caused the company to provide a robust sales and earnings outlook for fiscal 2017, as management remains confident of its core business strategies. Estimates have been stable ahead of its first quarter earnings release.”
CLX has been the subject of a number of other research reports. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $131.00 price target (up previously from $125.00) on shares of Clorox in a report on Friday, July 15th. B. Riley reiterated a “neutral” rating and set a $109.00 price objective on shares of Clorox in a research report on Thursday, August 4th. Citigroup Inc. upped their price objective on shares of Clorox from $134.00 to $144.00 and gave the stock a “neutral” rating in a research report on Monday, August 8th. Atlantic Securities upgraded shares of Clorox from a “hold” rating to a “buy” rating and set a $144.00 price objective for the company in a research report on Friday, September 16th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $134.00 price objective (up from $130.00) on shares of Clorox in a research report on Sunday, July 24th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $127.80.
Clorox (NYSE:CLX) opened at 122.13 on Friday. The stock’s 50 day moving average is $125.08 and its 200-day moving average is $129.68. The company has a market capitalization of $15.81 billion, a PE ratio of 24.82 and a beta of 0.30. Clorox has a 12 month low of $119.23 and a 12 month high of $140.47.
Clorox (NYSE:CLX) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $1.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.28 by $0.02. Clorox had a return on equity of 296.91% and a net margin of 11.25%. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period last year, the company posted $1.44 EPS. The business’s revenue was up 2.8% on a year-over-year basis. On average, analysts expect that Clorox will post $5.49 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 14th. Stockholders of record on Wednesday, October 26th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date is Monday, October 24th. Clorox’s dividend payout ratio is currently 64.91%.
In other news, EVP Laura Stein sold 38,882 shares of the company’s stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $131.69, for a total value of $5,120,370.58. Following the sale, the executive vice president now directly owns 48,501 shares of the company’s stock, valued at approximately $6,387,096.69. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Jon M. Balousek sold 5,136 shares of the company’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $131.14, for a total transaction of $673,535.04. Following the completion of the sale, the senior vice president now directly owns 15,384 shares in the company, valued at $2,017,457.76. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the stock. Invictus RG purchased a new stake in Clorox during the first quarter worth approximately $110,000. Checchi Capital Advisers LLC raised its stake in Clorox by 1.0% in the second quarter. Checchi Capital Advisers LLC now owns 820 shares of the company’s stock worth $113,000 after buying an additional 8 shares in the last quarter. Feltz Wealth PLAN Inc. purchased a new stake in Clorox during the second quarter worth approximately $114,000. Valley National Advisers Inc. raised its stake in Clorox by 0.6% in the second quarter. Valley National Advisers Inc. now owns 845 shares of the company’s stock worth $117,000 after buying an additional 5 shares in the last quarter. Finally, Blue Chip Partners Inc. raised its stake in Clorox by 7.1% in the second quarter. Blue Chip Partners Inc. now owns 890 shares of the company’s stock worth $123,000 after buying an additional 59 shares in the last quarter. 70.20% of the stock is currently owned by institutional investors.
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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