ValuEngine Upgrades Clorox (CLX) to Buy
Clorox (NYSE:CLX) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.
CLX has been the subject of a number of other research reports. Bank of America increased their price target on Clorox from $130.00 to $140.00 and gave the stock a “neutral” rating in a research note on Monday, July 16th. UBS Group initiated coverage on Clorox in a research note on Wednesday, July 18th. They issued a “sell” rating and a $110.00 price target for the company. Atlantic Securities initiated coverage on shares of Clorox in a report on Thursday. They set a “neutral” rating and a $151.00 price objective for the company. Goldman Sachs Group downgraded shares of Clorox from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $127.00 to $112.00 in a report on Tuesday, July 17th. They noted that the move was a valuation call. Finally, BMO Capital Markets reissued a “buy” rating and set a $153.00 price objective on shares of Clorox in a report on Friday, August 3rd. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $131.79.
Shares of CLX stock opened at $152.47 on Friday. Clorox has a 52-week low of $113.57 and a 52-week high of $153.38. The company has a quick ratio of 0.67, a current ratio of 1.09 and a debt-to-equity ratio of 3.15. The firm has a market capitalization of $19.53 billion, a price-to-earnings ratio of 24.36, a price-to-earnings-growth ratio of 3.16 and a beta of 0.35.
In related news, EVP Jon M. Balousek sold 3,354 shares of the stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $144.73, for a total value of $485,424.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michael R. Costello sold 9,265 shares of the stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $140.02, for a total transaction of $1,297,285.30. Following the completion of the transaction, the senior vice president now directly owns 34,293 shares of the company’s stock, valued at approximately $4,801,705.86. The disclosure for this sale can be found here. Insiders have sold a total of 29,268 shares of company stock valued at $4,196,686 in the last three months. Insiders own 1.00% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Carillon Tower Advisers Inc. lifted its holdings in shares of Clorox by 82.8% in the 2nd quarter. Carillon Tower Advisers Inc. now owns 109,150 shares of the company’s stock valued at $14,763,000 after acquiring an additional 49,450 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Clorox by 0.4% in the 2nd quarter. Victory Capital Management Inc. now owns 105,329 shares of the company’s stock valued at $14,246,000 after acquiring an additional 456 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Clorox by 7.2% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 63,730 shares of the company’s stock valued at $8,620,000 after acquiring an additional 4,281 shares during the last quarter. Homrich & Berg lifted its holdings in shares of Clorox by 6.5% in the 2nd quarter. Homrich & Berg now owns 9,021 shares of the company’s stock valued at $1,220,000 after acquiring an additional 552 shares during the last quarter. Finally, Unigestion Holding SA bought a new position in shares of Clorox in the 2nd quarter valued at about $73,819,000. 78.08% of the stock is owned by hedge funds and other institutional investors.
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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