WD-40 (NASDAQ:WDFC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Saturday. The firm currently has a $138.00 target price on the specialty chemicals company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 11.25% from the stock’s current price.

According to Zacks, “WD-40 Company is a tribe of passionate, committed professionals, all dedicated to the same goal: to create positive lasting memories in every interaction they have. They’re a global marketing organization dedicated to creating positive lasting memories by developing and selling products that solve problems in workshops, factories and homes around the world. They offer multi-purpose maintenance products, including aerosol sprays, non-aerosol trigger sprays, and in liquid form under the WD-40 Multi-Use brand for various consumer uses; and specialty maintenance products that comprise penetrants, degreasers, corrosion inhibitors, lubricants, and rust removers under the WD-40 Specialist brand name. The company also provides products under the WD-40 Bike product brand consisting of wet and dry chain lubricants, heavy-duty degreasers, and foaming wash products for avid and recreational cyclists, bike enthusiasts, and mechanics; multi-purpose and specialty drip oils, and spray lubricant products. “

WDFC has been the subject of a number of other research reports. BidaskClub downgraded WD-40 from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. FBR & Co reissued a “neutral” rating and set a $122.00 target price (up previously from $115.00) on shares of WD-40 in a report on Friday, October 20th. Finally, B. Riley reissued a “neutral” rating on shares of WD-40 in a report on Wednesday, November 1st. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $121.50.

Shares of WD-40 (WDFC) opened at $124.05 on Friday. WD-40 has a twelve month low of $100.60 and a twelve month high of $127.15. The company has a current ratio of 3.90, a quick ratio of 2.51 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $1,733.47, a price-to-earnings ratio of 32.64, a PEG ratio of 3.15 and a beta of 0.67.

WD-40 (NASDAQ:WDFC) last posted its earnings results on Tuesday, January 9th. The specialty chemicals company reported $0.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.07. WD-40 had a return on equity of 39.23% and a net margin of 13.84%. The company had revenue of $97.60 million during the quarter, compared to the consensus estimate of $93.00 million. During the same quarter last year, the firm earned $0.82 earnings per share. The company’s revenue was up 9.4% on a year-over-year basis. research analysts forecast that WD-40 will post 3.94 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the stock. GSA Capital Partners LLP acquired a new position in WD-40 in the third quarter valued at about $568,000. DF Dent & Co. Inc. acquired a new position in WD-40 in the third quarter valued at about $656,000. Neuberger Berman Group LLC raised its stake in WD-40 by 13.4% in the third quarter. Neuberger Berman Group LLC now owns 670,480 shares of the specialty chemicals company’s stock valued at $75,027,000 after purchasing an additional 79,356 shares in the last quarter. California Public Employees Retirement System raised its stake in WD-40 by 3.9% in the third quarter. California Public Employees Retirement System now owns 47,272 shares of the specialty chemicals company’s stock valued at $5,290,000 after purchasing an additional 1,772 shares in the last quarter. Finally, U S Global Investors Inc. acquired a new position in WD-40 in the third quarter valued at about $929,000. 81.52% of the stock is owned by institutional investors and hedge funds.

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WD-40 Company Profile

WD-40 Company is a global company engaged in developing and selling products, which solve problems in workshops, factories and homes. The Company’s segments include the Americas; Europe, Middle East and Africa (EMEA), and Asia-Pacific. The Company’s Americas segment includes the United States, Canada and Latin America.

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