Clorox (NYSE:CLX – Get Free Report) had its price objective upped by investment analysts at DA Davidson from $152.00 to $162.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. DA Davidson’s price target indicates a potential upside of 16.50% from the company’s current price.
Several other equities research analysts have also weighed in on the company. Wells Fargo & Company reduced their price objective on Clorox from $140.00 to $135.00 in a research note on Thursday, October 5th. Sanford C. Bernstein upgraded Clorox from an “underperform” rating to a “market perform” rating and set a $120.00 price target for the company in a research report on Thursday, October 12th. Jefferies Financial Group assumed coverage on Clorox in a report on Monday. They set an “underperform” rating and a $117.00 price objective on the stock. Raymond James cut shares of Clorox from an “outperform” rating to a “market perform” rating in a report on Thursday, October 5th. Finally, Atlantic Securities raised shares of Clorox from an “underweight” rating to a “neutral” rating in a research report on Thursday, August 3rd. Six analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Clorox has an average rating of “Hold” and an average price target of $138.13.
Clorox Price Performance
Clorox (NYSE:CLX – Get Free Report) last released its earnings results on Wednesday, November 1st. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.69. The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.31 billion. Clorox had a net margin of 1.22% and a return on equity of 195.76%. The business’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.93 EPS. As a group, sell-side analysts anticipate that Clorox will post 4.51 EPS for the current fiscal year.
Institutional Investors Weigh In On Clorox
Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Clorox by 1.3% during the first quarter. Vanguard Group Inc. now owns 14,685,046 shares of the company’s stock valued at $2,041,661,000 after acquiring an additional 185,012 shares in the last quarter. BlackRock Inc. boosted its holdings in Clorox by 4.9% in the second quarter. BlackRock Inc. now owns 9,929,208 shares of the company’s stock worth $1,579,141,000 after purchasing an additional 466,197 shares in the last quarter. Geode Capital Management LLC increased its position in Clorox by 3.4% during the second quarter. Geode Capital Management LLC now owns 2,818,428 shares of the company’s stock worth $447,149,000 after buying an additional 93,018 shares during the last quarter. Stifel Financial Corp boosted its stake in shares of Clorox by 5.1% during the 1st quarter. Stifel Financial Corp now owns 2,583,847 shares of the company’s stock worth $408,878,000 after acquiring an additional 124,644 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Clorox by 17.4% in the 3rd quarter. FMR LLC now owns 2,415,054 shares of the company’s stock valued at $316,517,000 after acquiring an additional 357,964 shares in the last quarter. 77.98% of the stock is owned by hedge funds and other 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.
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