WD-40 (NASDAQ:WDFC) Downgraded to “Sell” at Zacks Investment Research


Share on StockTwits

Zacks Investment Research lowered shares of WD-40 (NASDAQ:WDFC) from a hold rating to a sell rating in a research report released on Wednesday morning, Zacks.com reports.

According to Zacks, “WD-40 Company is a tribe of passionate, committed professionals, all dedicated to the same goal: to create positive lasting memories in every interaction they have. They’re a global marketing organization dedicated to creating positive lasting memories by developing and selling products that solve problems in workshops, factories and homes around the world. They offer multi-purpose maintenance products, including aerosol sprays, non-aerosol trigger sprays, and in liquid form under the WD-40 Multi-Use brand for various consumer uses; and specialty maintenance products that comprise penetrants, degreasers, corrosion inhibitors, lubricants, and rust removers under the WD-40 Specialist brand name. The company also provides products under the WD-40 Bike product brand consisting of wet and dry chain lubricants, heavy-duty degreasers, and foaming wash products for avid and recreational cyclists, bike enthusiasts, and mechanics; multi-purpose and specialty drip oils, and spray lubricant products. “

Separately, DA Davidson cut their price target on shares of WD-40 from $353.00 to $295.00 and set a neutral rating on the stock in a report on Friday, April 9th.

WDFC opened at $257.52 on Wednesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.81 and a quick ratio of 1.45. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of 58.53 and a beta of -0.05. The firm’s fifty day moving average price is $301.46 and its two-hundred day moving average price is $272.81. WD-40 has a 1 year low of $164.30 and a 1 year high of $333.42.

WD-40 (NASDAQ:WDFC) last issued its quarterly earnings results on Wednesday, April 7th. The specialty chemicals company reported $1.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.32 by ($0.08). The company had revenue of $111.91 million during the quarter, compared to analysts’ expectations of $114.30 million. WD-40 had a return on equity of 33.97% and a net margin of 12.30%. WD-40’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period last year, the firm posted $1.04 earnings per share. As a group, equities analysts anticipate that WD-40 will post 4.72 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, April 30th. Stockholders of record on Friday, April 16th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Thursday, April 15th. This is a boost from WD-40’s previous quarterly dividend of $0.67. This represents a $2.88 annualized dividend and a dividend yield of 1.12%. WD-40’s dividend payout ratio is currently 60.91%.

In other news, Director William B. Noble sold 583 shares of the company’s stock in a transaction dated Tuesday, January 26th. The stock was sold at an average price of $305.46, for a total transaction of $178,083.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.09% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Parallel Advisors LLC grew its holdings in shares of WD-40 by 40.6% during the fourth quarter. Parallel Advisors LLC now owns 142 shares of the specialty chemicals company’s stock worth $38,000 after purchasing an additional 41 shares in the last quarter. Archer Investment Corp purchased a new position in shares of WD-40 during the fourth quarter worth about $39,000. Rational Advisors LLC purchased a new position in shares of WD-40 during the fourth quarter worth about $49,000. Harbor Investment Advisory LLC boosted its stake in WD-40 by 33.3% in the first quarter. Harbor Investment Advisory LLC now owns 200 shares of the specialty chemicals company’s stock worth $61,000 after buying an additional 50 shares in the last quarter. Finally, Accel Wealth Management purchased a new stake in shares of WD-40 during the fourth quarter valued at approximately $55,000. 90.39% of the stock is owned by institutional investors.

WD-40 Company Profile

WD-40 Company develops and sells maintenance products, and homecare and cleaning products in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company 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 and industrial applications; and specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand, as well as various products under the WD-40 Bike brand name.

Featured Story: How to Calculate Compound Annual Growth Rate (CAGR)

Get a free copy of the Zacks research report on WD-40 (WDFC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.