Clorox (CLX) – Investment Analysts’ Recent Ratings Changes

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A number of research firms have changed their ratings and price targets for Clorox (NYSE: CLX):

  • 11/2/2018 – Clorox had its price target raised by analysts at Citigroup Inc from $149.00 to $153.00. They now have a “neutral” rating on the stock.
  • 11/2/2018 – Clorox had its price target raised by analysts at BMO Capital Markets from $153.00 to $165.00. They now have a “buy” rating on the stock.
  • 11/1/2018 – Clorox had its price target raised by analysts at Deutsche Bank AG from $123.00 to $124.00. They now have a “sell” rating on the stock.
  • 11/1/2018 – Clorox was given a new $138.00 price target on by analysts at Barclays PLC. They now have a “hold” rating on the stock.
  • 10/31/2018 – Clorox had its “hold” rating reaffirmed by analysts at Wells Fargo & Co. They wrote, “We’re not sure whether that’s due to a reduction in the dollar amount of share repurchases (CLX previously expected to repurchase ~$1B in FY19), or simply a mathematical function of shares trading near all­time highs. With shares strong into the print, gross margin questions remaining, and a guidance reduction, we expect shares to trade lower today.””
  • 10/17/2018 – Clorox had its price target raised by analysts at Wells Fargo & Co from $135.00 to $145.00. They now have a “market perform” rating on the stock.
  • 10/10/2018 – Clorox was downgraded by analysts at Deutsche Bank AG from a “hold” rating to a “sell” rating. They now have a $123.00 price target on the stock.
  • 10/6/2018 – Clorox was given a new $131.00 price target on by analysts at Barclays PLC. They now have a “hold” rating on the stock.
  • 10/5/2018 – Clorox was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Clorox outperformed the industry in the past three months driven by a robust earnings surprise history. In fourth-quarter fiscal 2018, the company reported seventh straight earnings beat. Although sales missed estimates, it increased year over year owing to gains from the Nutranext acquisition. The improvement was somewhat compensated by negative impact of both Aplicare divestiture and foreign currency exchange rates, particularly in Argentina. Higher volumes driven by innovation and rise in prices also contributed to revenue growth. For fiscal 2019, management issued an encouraging outlook. However, the company has been witnessing strained gross margins for a while now due to higher elevated commodity and logistics expenses. Unfortunately, this is likely to continue in fiscal 2019. Nevertheless, the company remains well on track with its 2020 Strategy, which is aimed at bolstering growth for the improvement of categories and overall market share.”
  • 10/3/2018 – Clorox was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $171.00 price target on the stock. According to Zacks, “Clorox outperformed the industry in the past three months driven by a robust earnings surprise history. In fourth-quarter fiscal 2018, the company reported seventh straight earnings beat. Although sales missed estimates, it increased year over year owing to gains from the Nutranext acquisition. The improvement was somewhat compensated by negative impact of both Aplicare divestiture and foreign currency exchange rates, particularly in Argentina. Higher volumes driven by innovation and rise in prices also contributed to revenue growth. For fiscal 2019, management issued an encouraging outlook. However, the company has been witnessing strained gross margins for a while now due to higher elevated commodity and logistics expenses. Unfortunately, this is likely to continue in fiscal 2019. Nevertheless, the company remains well on track with its 2020 Strategy, which is aimed at bolstering growth for the improvement of categories and overall market share.”
  • 9/25/2018 – Clorox was upgraded by analysts at Argus from a “hold” rating to a “buy” rating. They now have a $175.00 price target on the stock.
  • 9/22/2018 – Clorox was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 9/20/2018 – Clorox is now covered by analysts at Atlantic Securities. They set a “neutral” rating and a $151.00 price target on the stock.

Shares of CLX stock opened at $158.10 on Wednesday. Clorox Co has a 12-month low of $113.57 and a 12-month high of $158.25. The company has a current ratio of 1.07, a quick ratio of 0.65 and a debt-to-equity ratio of 3.38. The stock has a market capitalization of $19.68 billion, a PE ratio of 25.26, a PEG ratio of 3.78 and a beta of 0.28.

Clorox (NYSE:CLX) last issued its earnings results on Wednesday, October 31st. The company reported $1.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.03. Clorox had a return on equity of 102.65% and a net margin of 13.59%. The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the previous year, the firm posted $1.46 earnings per share. The business’s revenue was up 4.2% compared to the same quarter last year. As a group, analysts predict that Clorox Co will post 6.31 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 16th. Stockholders of record on Wednesday, October 31st will be issued a $0.96 dividend. The ex-dividend date is Tuesday, October 30th. This represents a $3.84 annualized dividend and a dividend yield of 2.43%. Clorox’s dividend payout ratio (DPR) is 61.34%.

In other Clorox news, COO Dawn C. Willoughby sold 3,387 shares of the business’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $148.01, for a total transaction of $501,309.87. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Michael R. Costello sold 9,265 shares of the business’s stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $140.02, for a total value of $1,297,285.30. Following the sale, the senior vice president now directly owns 34,293 shares in the company, valued at $4,801,705.86. The disclosure for this sale can be found here. Insiders sold 29,268 shares of company stock worth $4,196,686 over the last ninety days. Insiders own 1.40% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Carillon Tower Advisers Inc. increased its stake in Clorox by 82.8% during the second quarter. Carillon Tower Advisers Inc. now owns 109,150 shares of the company’s stock worth $14,763,000 after acquiring an additional 49,450 shares during the last quarter. Berkshire Asset Management LLC PA increased its stake in Clorox by 17.6% during the third quarter. Berkshire Asset Management LLC PA now owns 3,119 shares of the company’s stock worth $469,000 after acquiring an additional 467 shares during the last quarter. Victory Capital Management Inc. increased its stake in Clorox by 0.4% during the second quarter. Victory Capital Management Inc. now owns 105,329 shares of the company’s stock worth $14,246,000 after acquiring an additional 456 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Clorox by 7.2% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 63,730 shares of the company’s stock worth $8,620,000 after acquiring an additional 4,281 shares during the last quarter. Finally, Homrich & Berg increased its stake in Clorox by 6.5% during the second quarter. Homrich & Berg now owns 9,021 shares of the company’s stock worth $1,220,000 after acquiring an additional 552 shares during the last quarter. 78.35% of the stock is currently owned by institutional investors.

The Clorox Company manufactures and markets consumer and professional products worldwide. It operates through four segments: Cleaning, Household, Lifestyle, and International. The company offers laundry additives, including bleach products under the Clorox brand, as well as Clorox 2 stain fighter and color booster; home care products primarily under the Clorox, Formula 409, Liquid-Plumr, Pine-Sol, S.O.S, and Tilex brands; naturally derived products under the Green Works brand; and professional cleaning, disinfecting, and food service products under the Clorox, Dispatch, HealthLink, Clorox Healthcare, Hidden Valley, KC Masterpiece, and Soy Vay brands.

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