Clorox (CLX) Upgraded to Buy by Argus
Clorox (NYSE:CLX) was upgraded by investment analysts at Argus from a “hold” rating to a “buy” rating in a research note issued on Tuesday, The Fly reports.
CLX has been the subject of several other reports. Atlantic Securities initiated coverage on Clorox in a research note on Thursday, September 20th. They set a “neutral” rating and a $151.00 price objective for the company. Goldman Sachs Group lowered Clorox from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $127.00 to $112.00 in a research note on Tuesday, July 17th. They noted that the move was a valuation call. Bank of America increased their price objective on Clorox from $130.00 to $140.00 and gave the stock a “neutral” rating in a research note on Monday, July 16th. ValuEngine upgraded Clorox from a “sell” rating to a “hold” rating in a research note on Tuesday, June 26th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $153.00 price objective on shares of Clorox in a research note on Friday, August 3rd. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $131.79.
Clorox stock opened at $149.95 on Tuesday. The company has a debt-to-equity ratio of 3.15, a current ratio of 1.09 and a quick ratio of 0.67. Clorox has a 52-week low of $113.57 and a 52-week high of $153.38. The firm has a market cap of $19.47 billion, a price-to-earnings ratio of 23.95, a P/E/G ratio of 3.16 and a beta of 0.35.
In related news, SVP Michael R. Costello sold 9,265 shares of the firm’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $140.02, for a total value of $1,297,285.30. Following the transaction, the senior vice president now owns 34,293 shares in the company, valued at $4,801,705.86. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Linda J. Rendle sold 382 shares of the firm’s stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $148.32, for a total value of $56,658.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,268 shares of company stock worth $4,196,686. 1.00% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of CLX. Neuberger Berman Group LLC boosted its holdings in Clorox by 6.4% in the first quarter. Neuberger Berman Group LLC now owns 31,135 shares of the company’s stock valued at $4,192,000 after acquiring an additional 1,868 shares during the last quarter. Toronto Dominion Bank lifted its stake in Clorox by 25.5% in the first quarter. Toronto Dominion Bank now owns 69,724 shares of the company’s stock valued at $9,278,000 after buying an additional 14,176 shares during the period. Great West Life Assurance Co. Can lifted its stake in Clorox by 6.3% in the first quarter. Great West Life Assurance Co. Can now owns 251,570 shares of the company’s stock valued at $33,541,000 after buying an additional 14,914 shares during the period. Norinchukin Bank The lifted its stake in Clorox by 15.0% in the first quarter. Norinchukin Bank The now owns 11,858 shares of the company’s stock valued at $1,578,000 after buying an additional 1,550 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in Clorox by 160.3% in the first quarter. Fisher Asset Management LLC now owns 31,811 shares of the company’s stock valued at $4,234,000 after buying an additional 19,589 shares during the period. Institutional investors and hedge funds own 78.07% of the company’s stock.
Clorox Company Profile
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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