Clorox (NYSE:CLX) Price Target Cut to $122.00

Clorox (NYSE:CLX) had its price objective dropped by research analysts at Barclays from $132.00 to $122.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Barclays‘s price target points to a potential downside of 9.52% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. DA Davidson reiterated a “neutral” rating and set a $162.00 price target on shares of Clorox in a report on Wednesday, April 17th. Jefferies Financial Group upgraded Clorox from an “underperform” rating to a “hold” rating and set a $145.00 price objective for the company in a research note on Tuesday, March 26th. Wells Fargo & Company lowered their price objective on shares of Clorox from $135.00 to $130.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 10th. Argus upgraded shares of Clorox to a “hold” rating in a research note on Tuesday, June 4th. Finally, UBS Group dropped their price target on Clorox from $164.00 to $159.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Five research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $144.00.

Clorox Stock Down 1.1 %

Shares of NYSE CLX traded down $1.48 during midday trading on Friday, hitting $134.83. 290,078 shares of the stock traded hands, compared to its average volume of 1,230,688. The company has a market cap of $16.74 billion, a PE ratio of 70.10, a P/E/G ratio of 2.04 and a beta of 0.39. Clorox has a one year low of $114.68 and a one year high of $169.14. The business has a 50 day moving average price of $134.36 and a two-hundred day moving average price of $143.02. The company has a debt-to-equity ratio of 9.73, a quick ratio of 0.53 and a current ratio of 0.90.

Clorox (NYSE:CLX) last released its quarterly earnings data on Tuesday, April 30th. The company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.33 by $0.38. Clorox had a return on equity of 302.49% and a net margin of 3.33%. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the company posted $1.51 earnings per share. The company’s quarterly revenue was down 5.3% on a year-over-year basis. On average, equities analysts predict that Clorox will post 5.91 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Clorox by 0.3% in the first quarter. Vanguard Group Inc. now owns 15,277,580 shares of the company’s stock worth $2,339,150,000 after purchasing an additional 48,632 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Clorox in the fourth quarter worth about $144,844,000. Norges Bank bought a new stake in shares of Clorox in the fourth quarter worth about $128,382,000. Parsifal Capital Management LP bought a new stake in shares of Clorox in the fourth quarter worth about $128,245,000. Finally, Confluence Investment Management LLC bought a new stake in shares of Clorox in the first quarter worth about $135,630,000. 78.53% of the stock is owned by institutional investors.

Clorox Company Profile

The Clorox Company manufactures and markets consumer and professional products worldwide. It operates through four segments: Health and Wellness, Household, Lifestyle, and International. The Health and Wellness segment offers cleaning products, such as laundry additives and home care products primarily under the Clorox, Clorox2, Scentiva, Pine-Sol, Liquid-Plumr, Tilex, and Formula 409 brands; professional cleaning and disinfecting products under the CloroxPro and Clorox Healthcare brands; professional food service products under the Hidden Valley brand; and vitamins, minerals and supplement products under the RenewLife, Natural Vitality, NeoCell, and Rainbow Light brands in the United States.