Deutsche Bank Initiates Coverage on Clorox (CLX)
Research analysts at Deutsche Bank began coverage on shares of Clorox (NYSE:CLX) in a research report issued to clients and investors on Wednesday. The firm set a “hold” rating and a $142.00 price target on the stock. Deutsche Bank’s target price indicates a potential downside of 2.91% from the company’s current price.
Several other research firms also recently commented on CLX. BMO Capital Markets reissued an “outperform” rating on shares of Clorox in a report on Tuesday, September 12th. Consumer Edge raised Clorox from a “neutral” rating to an “outperform” rating in a report on Friday, November 10th. Zacks Investment Research downgraded Clorox from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Royal Bank of Canada reaffirmed a “hold” rating and set a $115.00 price target on shares of Clorox in a report on Sunday, October 8th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $132.00 price target (down previously from $137.00) on shares of Clorox in a report on Friday, October 6th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $129.05.
Shares of Clorox (NYSE CLX) opened at $146.26 on Wednesday. The company has a market capitalization of $18,900.00, a P/E ratio of 26.15, a PEG ratio of 3.95 and a beta of 0.43. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 3.02. Clorox has a twelve month low of $115.00 and a twelve month high of $147.38.
Clorox (NYSE:CLX) last released its quarterly earnings data on Wednesday, November 1st. The company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.41 by $0.05. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.48 billion. Clorox had a return on equity of 161.59% and a net margin of 11.84%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.36 EPS. analysts forecast that Clorox will post 5.6 earnings per share for the current year.
In other Clorox news, SVP Matthew T. Laszlo sold 20,051 shares of the stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $130.46, for a total transaction of $2,615,853.46. Following the transaction, the senior vice president now owns 10,896 shares in the company, valued at approximately $1,421,492.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael R. Costello sold 10,574 shares of the stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $136.01, for a total value of $1,438,169.74. Following the transaction, the senior vice president now owns 34,867 shares in the company, valued at approximately $4,742,260.67. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of CLX. Valley National Advisers Inc. increased its position in Clorox by 0.6% during the 2nd quarter. Valley National Advisers Inc. now owns 865 shares of the company’s stock worth $115,000 after buying an additional 5 shares during the period. Blue Chip Partners Inc. increased its position in Clorox by 3.9% during the 2nd quarter. Blue Chip Partners Inc. now owns 941 shares of the company’s stock worth $125,000 after buying an additional 35 shares during the period. Sun Life Financial INC increased its position in Clorox by 10,344.4% during the 2nd quarter. Sun Life Financial INC now owns 940 shares of the company’s stock worth $125,000 after buying an additional 931 shares during the period. Acrospire Investment Management LLC bought a new position in Clorox during the 2nd quarter worth $133,000. Finally, Welch Group LLC increased its position in Clorox by 16.2% during the 2nd quarter. Welch Group LLC now owns 1,228 shares of the company’s stock worth $164,000 after buying an additional 171 shares during the period. Hedge funds and other institutional investors own 73.42% of the company’s stock.
Clorox Company Profile
The Clorox Company is a manufacturer and marketer of consumer and professional products. The Company sells its products primarily through mass retail outlets, e-commerce channels, wholesale distributors and medical supply distributors. The Company operates through four segments: Cleaning, Household, Lifestyle and International.
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