Clorox (NYSE:CLX) Raised to “Inline” at Evercore

Clorox (NYSE:CLX) was upgraded by equities research analysts at Evercore from an “underperform” rating to an “inline” rating in a research note issued to investors on Monday, Briefing.com reports. The brokerage presently has a $99.00 price target on the stock. Evercore‘s price objective suggests a potential upside of 12.49% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. BNP Paribas Exane cut their price target on Clorox from $97.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, July 20th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $95.00 price objective on shares of Clorox in a research note on Monday, October 19th. Wells Fargo & Company cut their target price on Clorox from $90.00 to $85.00 and set an “equal weight” rating for the company in a research report on Monday, October 5th. Wall Street Zen cut Clorox from a “hold” rating to a “sell” rating in a research report on Saturday, October 3rd. Finally, Zacks Research cut Clorox from a “hold” rating to a “strong sell” rating in a research report on Thursday. Twelve investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $93.57.

Clorox Price Performance

CLX stock opened at $88.01 on Monday. Clorox has a one year low of $79.12 and a one year high of $128.90. The firm has a 50-day moving average of $88.61 and a two-hundred day moving average of $100.01. The company has a current ratio of 0.66, a quick ratio of 0.38 and a debt-to-equity ratio of 15.80. The firm has a market capitalization of $10.64 billion, a PE ratio of 18.26, a P/E/G ratio of 2.94 and a beta of 0.59.

Clorox (NYSE:CLX) last released its quarterly earnings data on Monday, August 3rd. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.02. Clorox had a net margin of 8.74% and a return on equity of 522.23%. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the business earned $2.87 EPS. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, analysts forecast that Clorox will post 5.66 earnings per share for the current year.

Hedge Funds Weigh In On Clorox

A number of large investors have recently modified their holdings of the business. Geneos Wealth Management Inc. increased its stake in shares of Clorox by 9.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,402 shares of the company’s stock worth $145,000 after purchasing an additional 119 shares during the last quarter. Elevation Wealth Partners LLC increased its holdings in shares of Clorox by 32.3% during the third quarter. Elevation Wealth Partners LLC now owns 565 shares of the company’s stock worth $46,000 after purchasing an additional 138 shares during the period. Root Financial Partners LLC grew its stake in Clorox by 83.8% during the first quarter. Root Financial Partners LLC now owns 318 shares of the company’s stock worth $33,000 after buying an additional 145 shares in the last quarter. Eastern Bank grew its holdings in shares of Clorox by 3.1% during the 3rd quarter. Eastern Bank now owns 5,052 shares of the company’s stock valued at $409,000 after purchasing an additional 150 shares during the last quarter. Finally, Mystic Asset Management Inc. raised its position in Clorox by 1.3% in the third quarter. Mystic Asset Management Inc. now owns 12,112 shares of the company’s stock valued at $981,000 after purchasing an additional 153 shares during the last quarter. 78.53% of the stock is currently owned by institutional investors and hedge funds.

Clorox Company Profile

The Clorox Company, founded in 1913 and headquartered in Oakland, California, is a consumer and professional products company. It began with household bleach and has expanded into a portfolio of brands serving cleaning, household, personal care, food, and professional markets.

Its brands include Clorox disinfecting and cleaning products, Pine-Sol cleaners, Liquid-Plumr drain care, Kingsford charcoal, Fresh Step and Scoop Away cat litter, Hidden Valley dressings and dips, Brita water filtration products, and Burt’s Bees personal care items.