Clorox (NYSE:CLX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports. The brokerage presently has a $165.00 price objective on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 6.29% from the company’s previous close.

According to Zacks, “Clorox lagged the industry in the past six months owing to ongoing impacts from elevated commodity costs, adverse currency rates as well as increased manufacturing and logistics expenses. Driven by these factors, the company reported dismal earnings and sales in third-quarter fiscal 2019. This marked the first earnings miss after nine straight quarters of beat, while sales lagged estimates for the third time in the last four quarters. Further, the company narrowed sales view for 2019, anticipating a milder cold and flu season, as well as increased promotional activity in the Wipes category. It also expects tariffs to weigh on earnings in 2019. However, the company’s cost savings plans and pricing strategy cushioned results. The company's 2020 Strategy, aimed at bolstering growth of categories and overall market share, also bodes well.”

Several other research analysts have also commented on the stock. Citigroup lowered shares of Barrick Gold to a “neutral” rating in a research note on Thursday, May 23rd. Deutsche Bank lowered shares of Cogent Communications from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. BMO Capital Markets raised shares of TMAC Resources from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 2nd. Argus lowered shares of Clorox from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. Finally, Wells Fargo & Co reissued a “hold” rating on shares of Canada Goose in a research note on Thursday, May 30th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $148.43.

NYSE CLX traded up $0.73 on Tuesday, hitting $155.24. 578,444 shares of the stock were exchanged, compared to its average volume of 1,006,907. The company has a quick ratio of 0.66, a current ratio of 1.10 and a debt-to-equity ratio of 2.93. The business has a fifty day moving average price of $153.61. The stock has a market capitalization of $19.80 billion, a price-to-earnings ratio of 24.80, a P/E/G ratio of 4.38 and a beta of 0.38. Clorox has a 52-week low of $127.34 and a 52-week high of $167.70.

Clorox (NYSE:CLX) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $1.44 EPS for the quarter, missing the consensus estimate of $1.47 by ($0.03). The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Clorox had a return on equity of 108.82% and a net margin of 12.68%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.37 earnings per share. On average, research analysts forecast that Clorox will post 6.29 earnings per share for the current year.

In related news, SVP Denise Garner sold 20,399 shares of Clorox stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $157.61, for a total value of $3,215,086.39. Following the completion of the sale, the senior vice president now directly owns 4,896 shares in the company, valued at $771,658.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.40% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in CLX. Zions Bancorporation N.A. acquired a new position in shares of Clorox during the first quarter valued at about $28,000. Northstar Capital Management LLC acquired a new position in shares of Clorox during the first quarter valued at about $29,000. Capital Financial Planning LLC acquired a new position in shares of Clorox during the fourth quarter valued at about $32,000. Paragon Capital Management LLC acquired a new position in shares of Clorox during the first quarter valued at about $35,000. Finally, Penserra Capital Management LLC acquired a new position in shares of Clorox during the first quarter valued at about $36,000. Hedge funds and other institutional investors own 77.55% 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.

Further Reading: What is a recession?

Get a free copy of the Zacks research report on Clorox (CLX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Clorox (NYSE:CLX)

Receive News & Ratings for Clorox Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clorox and related companies with MarketBeat.com's FREE daily email newsletter.