WD-40 (WDFC) Upgraded to Strong-Buy by BidaskClub

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BidaskClub upgraded shares of WD-40 (NASDAQ:WDFC) from a buy rating to a strong-buy rating in a research report sent to investors on Wednesday morning.

WDFC has been the subject of several other research reports. Zacks Investment Research upgraded WD-40 from a hold rating to a buy rating and set a $177.00 price target for the company in a research note on Sunday, July 15th. B. Riley upped their price target on WD-40 from $135.00 to $152.00 and gave the stock a neutral rating in a research note on Wednesday, July 11th. Finally, ValuEngine upgraded WD-40 from a hold rating to a buy rating in a research note on Monday, June 11th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and an average price target of $142.75.

WDFC opened at $171.70 on Wednesday. The stock has a market cap of $2.29 billion, a PE ratio of 46.16 and a beta of 0.57. WD-40 has a 52-week low of $104.86 and a 52-week high of $171.75. The company has a quick ratio of 1.47, a current ratio of 1.75 and a debt-to-equity ratio of 0.56.

WD-40 (NASDAQ:WDFC) last released its quarterly earnings results on Tuesday, July 10th. The specialty chemicals company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.10. The company had revenue of $107.00 million during the quarter, compared to the consensus estimate of $103.33 million. WD-40 had a return on equity of 39.44% and a net margin of 14.40%. The firm’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.02 EPS. equities research analysts forecast that WD-40 will post 4.09 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 31st. Stockholders of record on Friday, July 20th were paid a dividend of $0.54 per share. The ex-dividend date was Thursday, July 19th. This represents a $2.16 annualized dividend and a dividend yield of 1.26%. WD-40’s dividend payout ratio (DPR) is presently 58.06%.

In related news, insider Geoffrey Holdsworth sold 1,592 shares of the stock in a transaction that occurred on Wednesday, July 18th. The stock was sold at an average price of $157.90, for a total transaction of $251,376.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William B. Noble sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $166.13, for a total value of $332,260.00. The disclosure for this sale can be found here. Corporate insiders own 3.62% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Vident Investment Advisory LLC boosted its stake in WD-40 by 9.8% during the 2nd quarter. Vident Investment Advisory LLC now owns 3,416 shares of the specialty chemicals company’s stock valued at $500,000 after purchasing an additional 306 shares during the period. Rhumbline Advisers boosted its stake in WD-40 by 1.0% during the 2nd quarter. Rhumbline Advisers now owns 39,854 shares of the specialty chemicals company’s stock valued at $5,829,000 after purchasing an additional 384 shares during the period. FDx Advisors Inc. boosted its stake in WD-40 by 8.3% during the 1st quarter. FDx Advisors Inc. now owns 5,067 shares of the specialty chemicals company’s stock valued at $667,000 after purchasing an additional 387 shares during the period. Raymond James & Associates boosted its stake in WD-40 by 3.7% during the 4th quarter. Raymond James & Associates now owns 11,828 shares of the specialty chemicals company’s stock valued at $1,396,000 after purchasing an additional 425 shares during the period. Finally, Metropolitan Life Insurance Co. NY boosted its stake in WD-40 by 10.9% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 4,490 shares of the specialty chemicals company’s stock valued at $657,000 after purchasing an additional 441 shares during the period. Hedge funds and other institutional investors own 85.62% of the company’s stock.

WD-40 Company Profile

WD-40 Company engages in the development and sale of maintenance products, and homecare and cleaning products. It 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; specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand name; and bicycle maintenance products under the WD-40 Bike brand name comprising wet and dry chain lubricants, chain cleaners and degreasers, and foaming wash products that are designed for avid and recreational cyclists, bike enthusiasts, and mechanics.

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