Zacks Investment Research upgraded shares of Clorox (NYSE:CLX) from a hold rating to a buy rating in a research note issued to investors on Monday. The firm currently has $163.00 price target on the stock.
According to Zacks, “Clorox has outperformed the industry in the last three months. The company is gaining from the 2020 Strategy, which is aimed at bolstering growth for the improvement of categories and overall market share. The company delivered a solid start to fiscal 2018 as both first-quarter fiscal 2018 earnings and sales topped estimates and improved year over year. Earnings marked the fourth straight quarterly beat, while sales surpassed estimates for the second consecutive quarter. Earnings primarily gained from solid sales and gross margin expansion, while sales was driven by growth across the United Sates and International businesses, alongside rise in volumes. Despite a strong start to fiscal 2018, the company cut its view for the fiscal due to hurricane-related impacts and the divestiture of Aplicare business. Further, inflation and high commodity and logistics costs may dent gross margin.”
A number of other equities analysts also recently weighed in on CLX. BMO Capital Markets reiterated an outperform rating on shares of Clorox in a report on Tuesday, September 12th. Jefferies Group restated a hold rating and issued a $132.00 price objective (down previously from $137.00) on shares of Clorox in a report on Friday, October 6th. Royal Bank of Canada restated a hold rating and issued a $115.00 price objective on shares of Clorox in a report on Sunday, October 8th. Morgan Stanley dropped their price objective on Clorox from $138.00 to $128.00 and set an equal weight rating on the stock in a report on Thursday, November 2nd. Finally, Consumer Edge upgraded Clorox from a neutral rating to an outperform rating in a report on Friday, November 10th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. Clorox presently has a consensus rating of Hold and an average price target of $134.33.
Clorox (NYSE:CLX) last issued its earnings results on Wednesday, November 1st. The company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.05. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.48 billion. Clorox had a return on equity of 161.59% and a net margin of 11.84%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.36 EPS. equities analysts predict that Clorox will post 5.66 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Wednesday, January 24th will be issued a $0.84 dividend. The ex-dividend date is Tuesday, January 23rd. This represents a $3.36 dividend on an annualized basis and a yield of 2.29%. Clorox’s dividend payout ratio is currently 61.65%.
In other Clorox news, SVP Michael R. Costello sold 10,574 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $136.01, for a total transaction of $1,438,169.74. Following the completion of the sale, the senior vice president now owns 34,867 shares of the company’s stock, valued at $4,742,260.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Matthew T. Laszlo sold 20,051 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $130.46, for a total value of $2,615,853.46. Following the sale, the senior vice president now directly owns 10,896 shares of the company’s stock, valued at approximately $1,421,492.16. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.
A number of institutional investors have recently made changes to their positions in CLX. Sun Life Financial INC boosted its position in Clorox by 10,344.4% during the second quarter. Sun Life Financial INC now owns 940 shares of the company’s stock worth $125,000 after purchasing an additional 931 shares during the period. Acrospire Investment Management LLC bought a new stake in Clorox during the second quarter worth approximately $133,000. Salem Investment Counselors Inc. boosted its position in Clorox by 2.5% during the second quarter. Salem Investment Counselors Inc. now owns 1,256 shares of the company’s stock worth $167,000 after purchasing an additional 31 shares during the period. Phocas Financial Corp. bought a new stake in Clorox during the second quarter worth approximately $167,000. Finally, Dupont Capital Management Corp bought a new stake in Clorox during the third quarter worth approximately $199,000. 73.14% of the stock is owned by hedge funds and other institutional investors.
The Clorox Company is a manufacturer and marketer of consumer and professional products. The Company sells its products primarily through mass retail outlets, e-commerce channels, wholesale distributors and medical supply distributors. The Company operates through four segments: Cleaning, Household, Lifestyle and International.
Receive News & Ratings for Clorox Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clorox and related companies with our FREE daily email newsletter.