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

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WD-40 (NASDAQ:WDFC) was upgraded by equities researchers at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

Several other brokerages also recently commented on WDFC. Zacks Investment Research raised WD-40 from a “hold” rating to a “buy” rating and set a $177.00 price objective on the stock in a research note on Sunday, July 15th. B. Riley raised their price objective 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 report on Monday, June 11th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $142.75.

Shares of WD-40 stock opened at $182.55 on Friday. The firm has a market cap of $2.51 billion, a P/E ratio of 49.07 and a beta of 0.62. WD-40 has a 12 month low of $106.30 and a 12 month high of $182.70. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.47 and a current ratio of 1.75.

WD-40 (NASDAQ:WDFC) last issued its quarterly earnings data on Tuesday, July 10th. The specialty chemicals company reported $1.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.10. The business had revenue of $107.00 million for 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% compared to the same quarter last year. During the same quarter last year, the business posted $1.02 EPS. analysts expect that WD-40 will post 4.09 EPS for the current year.

In other WD-40 news, insider Geoffrey Holdsworth sold 1,592 shares of the stock in a transaction dated Wednesday, July 18th. The stock was sold at an average price of $157.90, for a total transaction of $251,376.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William B. Noble sold 2,000 shares of the stock in a transaction dated Wednesday, August 15th. The stock was 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. 3.90% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. increased its holdings in WD-40 by 65.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 5,658 shares of the specialty chemicals company’s stock worth $827,000 after purchasing an additional 2,233 shares in the last quarter. Cozad Asset Management Inc. bought a new position in WD-40 during the 2nd quarter worth about $409,000. Metropolitan Life Insurance Co. NY increased its holdings 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 worth $657,000 after purchasing an additional 441 shares in the last quarter. New England Asset Management Inc. bought a new position in WD-40 during the 2nd quarter worth about $255,000. Finally, Vident Investment Advisory LLC increased its holdings 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 worth $500,000 after purchasing an additional 306 shares in the last quarter. Hedge funds and other institutional investors own 97.50% 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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