Clorox (CLX) Receives Neutral Rating from Bank of America
Clorox (NYSE:CLX)‘s stock had its “neutral” rating restated by Bank of America in a research report issued on Thursday. They presently have a $170.00 target price on the stock, up from their previous target price of $150.00. Bank of America’s price objective suggests a potential upside of 4.89% from the company’s previous close.
Several other research firms also recently commented on CLX. Deutsche Bank downgraded shares of Clorox from a “hold” rating to a “sell” rating and set a $123.00 price target on the stock. in a research note on Wednesday, October 10th. Barclays set a $131.00 price target on shares of Clorox and gave the company a “hold” rating in a research note on Saturday, October 6th. Zacks Investment Research upgraded shares of Clorox from a “sell” rating to a “hold” rating in a research note on Monday, November 19th. Wells Fargo & Co restated a “hold” rating on shares of Clorox in a research note on Wednesday, October 31st. Finally, Citigroup upped their price target on shares of Clorox from $153.00 to $169.00 and gave the company a “hold” rating in a research note on Tuesday, November 20th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $144.93.
Shares of CLX traded down $1.56 during trading hours on Thursday, hitting $162.07. The company had a trading volume of 177,756 shares, compared to its average volume of 899,645. The firm has a market capitalization of $20.89 billion, a PE ratio of 25.89, a PEG ratio of 4.02 and a beta of 0.30. Clorox has a 12 month low of $113.57 and a 12 month high of $167.70. The company has a debt-to-equity ratio of 3.38, a current ratio of 1.07 and a quick ratio of 0.65.
In other Clorox news, SVP Matthew T. Laszlo sold 13,485 shares of the stock in a transaction dated Tuesday, November 20th. The shares were sold at an average price of $161.04, for a total transaction of $2,171,624.40. Following the sale, the senior vice president now directly owns 20,098 shares in the company, valued at $3,236,581.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael R. Costello sold 6,882 shares of the stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $160.08, for a total transaction of $1,101,670.56. The disclosure for this sale can be found here. Insiders have sold 87,452 shares of company stock worth $13,839,402 over the last quarter. Corporate insiders own 1.40% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Parnassus Investments CA boosted its stake in shares of Clorox by 1.6% in the 2nd quarter. Parnassus Investments CA now owns 4,711,970 shares of the company’s stock valued at $637,294,000 after purchasing an additional 76,149 shares in the last quarter. Morgan Stanley boosted its stake in shares of Clorox by 178.2% in the 3rd quarter. Morgan Stanley now owns 3,063,813 shares of the company’s stock valued at $460,828,000 after purchasing an additional 1,962,433 shares in the last quarter. Macquarie Group Ltd. boosted its stake in shares of Clorox by 437,400.0% in the 2nd quarter. Macquarie Group Ltd. now owns 1,750,000 shares of the company’s stock valued at $236,688,000 after purchasing an additional 1,749,600 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Clorox by 15.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,664,803 shares of the company’s stock valued at $250,403,000 after purchasing an additional 218,364 shares in the last quarter. Finally, Schroder Investment Management Group boosted its stake in shares of Clorox by 57.0% in the 2nd quarter. Schroder Investment Management Group now owns 1,506,358 shares of the company’s stock valued at $201,641,000 after purchasing an additional 547,070 shares in the last quarter. Hedge funds and other institutional investors own 77.96% of the company’s stock.
The Clorox Company manufactures and markets consumer and professional products worldwide. It operates through four segments: Cleaning, Household, Lifestyle, and International. The company offers laundry additives, including bleach products under the Clorox brand, as well as Clorox 2 stain fighter and color booster; home care products primarily under the Clorox, Formula 409, Liquid-Plumr, Pine-Sol, S.O.S, and Tilex brands; naturally derived products under the Green Works brand; and professional cleaning, disinfecting, and food service products under the Clorox, Dispatch, HealthLink, Clorox Healthcare, Hidden Valley, KC Masterpiece, and Soy Vay brands.
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