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.
Recommended Story: Asset Allocation, Balancing Your Investments
Receive News & Ratings for WD-40 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WD-40 and related companies with MarketBeat.com's FREE daily email newsletter.