Clorox Company (The) (NYSE:CLX) Raised to “Hold” at Zacks Investment Research

Clorox Company (The) (NYSE:CLX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday, November 6th.

According to Zacks, “Clorox delivered a solid start to fiscal 2018 as both first-quarter fiscal 2018 earnings and sales topped estimates and improved year over year. Notably, 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. Additionally, the company’s 2020 Strategy, which is aimed at bolstering growth for the improvement of categories and overall market share, bodes well. However, Clorox has lagged the industry in the last six months. 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.”

Several other equities research analysts have also recently issued reports on CLX. Jefferies Group LLC restated a “hold” rating and set a $137.00 price objective (up from $136.00) on shares of Clorox in a research report on Wednesday, August 9th. Royal Bank Of Canada reiterated a “hold” rating and set a $115.00 price target on shares of Clorox in a research report on Wednesday, August 2nd. BMO Capital Markets set a $150.00 price target on shares of Clorox and gave the company a “buy” rating in a research report on Thursday, August 3rd. BidaskClub upgraded shares of Clorox from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Finally, Barclays PLC reiterated an “equal weight” rating and set a $136.00 price target (down from $140.00) on shares of Clorox in a research report on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. Clorox currently has a consensus rating of “Hold” and a consensus price target of $128.72.

Clorox (NYSE:CLX) traded up $0.42 during trading hours on Monday, hitting $135.39. 305,881 shares of the stock traded hands, compared to its average volume of 970,873. Clorox has a 12-month low of $112.28 and a 12-month high of $141.76. The stock has a market capitalization of $17,510.00, a P/E ratio of 24.32, a P/E/G ratio of 3.68 and a beta of 0.39. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 3.02.

Clorox (NYSE:CLX) last released its quarterly earnings data on Wednesday, November 1st. The company reported $1.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.41 by $0.05. Clorox had a net margin of 11.84% and a return on equity of 161.59%. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the business earned $1.36 earnings per share. Clorox’s revenue was up 4.0% compared to the same quarter last year. analysts expect that Clorox will post 5.58 earnings per share for the current year.

In related news, COO Dawn C. Willoughby sold 2,158 shares of Clorox stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $138.00, for a total value of $297,804.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Matthew T. Laszlo sold 20,051 shares of Clorox stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $130.46, for a total transaction of $2,615,853.46. Following the completion of the transaction, the senior vice president now 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. 1.00% of the stock is owned by insiders.

Large investors have recently modified their holdings of the company. American Beacon Advisors Inc. purchased a new stake in shares of Clorox during the 1st quarter worth approximately $104,000. Parkside Financial Bank & Trust lifted its position in shares of Clorox by 3.8% during the 2nd quarter. Parkside Financial Bank & Trust now owns 796 shares of the company’s stock worth $107,000 after buying an additional 29 shares during the last quarter. Valley National Advisers Inc. lifted its position in shares of Clorox by 0.6% during the 1st quarter. Valley National Advisers Inc. now owns 860 shares of the company’s stock worth $116,000 after buying an additional 5 shares during the last quarter. Sun Life Financial INC lifted its position in shares of Clorox by 10,344.4% during the 2nd quarter. Sun Life Financial INC now owns 940 shares of the company’s stock worth $125,000 after buying an additional 931 shares during the last quarter. Finally, Blue Chip Partners Inc. lifted its position in shares of Clorox by 3.9% during the 2nd quarter. Blue Chip Partners Inc. now owns 941 shares of the company’s stock worth $125,000 after buying an additional 35 shares during the last quarter. Institutional investors and hedge funds own 72.74% of the company’s stock.

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Clorox Company Profile

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.

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