Clorox (CLX) Downgraded by Zacks Investment Research to “Hold”

Clorox (NYSE:CLX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday.

According to Zacks, “Clorox has outperformed the industry in the last three months. The company is gaining from the 2020 Strategy, which is aimed at bolstering growth for the improvement of categories and overall market share. The company delivered a solid start to fiscal 2018 as both first-quarter fiscal 2018 earnings and sales topped estimates and improved year over year. Earnings marked the fourth straight quarterly beat, while sales surpassed estimates for the second consecutive quarter. Earnings primarily gained from solid sales and gross margin expansion, while sales was driven by growth across the United Sates and International businesses, alongside rise in volumes. Despite a strong start to fiscal 2018, the company cut its view for the fiscal due to hurricane-related impacts and the divestiture of Aplicare business. Further, inflation and high commodity and logistics costs may dent gross margin.”

Several other research analysts also recently commented on the company. Deutsche Bank started coverage on Clorox in a report on Wednesday, December 13th. They issued a “hold” rating and a $142.00 target price on the stock. Royal Bank of Canada reissued a “hold” rating and issued a $115.00 target price on shares of Clorox in a report on Sunday, October 8th. Wells Fargo & Co reissued a “hold” rating and issued a $130.00 target price on shares of Clorox in a report on Wednesday, December 13th. Consumer Edge raised Clorox from a “neutral” rating to an “outperform” rating in a report on Friday, November 10th. Finally, Morgan Stanley reduced their price objective on Clorox from $138.00 to $128.00 and set an “equal weight” rating on the stock in a report on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $134.33.

Shares of Clorox (NYSE CLX) traded up $0.72 on Monday, hitting $143.86. The stock had a trading volume of 789,700 shares, compared to its average volume of 819,000. The firm has a market cap of $18,570.00, a P/E ratio of 26.40, a P/E/G ratio of 3.76 and a beta of 0.42. 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 fifty-two week low of $118.87 and a fifty-two week high of $150.40.

Clorox (NYSE:CLX) last announced its earnings results on Wednesday, November 1st. The company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.41 by $0.05. The business had revenue of $1.50 billion for 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%. Clorox’s revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.36 EPS. sell-side analysts anticipate that Clorox will post 5.7 EPS for the current fiscal year.

In other Clorox news, SVP Matthew T. Laszlo sold 20,051 shares of the company’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $130.46, for a total transaction of $2,615,853.46. Following the completion of the sale, the senior vice president now owns 10,896 shares in the company, valued at approximately $1,421,492.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael R. Costello sold 10,574 shares of the company’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $136.01, for a total transaction of $1,438,169.74. Following the sale, the senior vice president now owns 34,867 shares of the company’s stock, valued at approximately $4,742,260.67. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the business. Sun Life Financial INC raised its position in shares of Clorox by 10,344.4% during the 2nd quarter. Sun Life Financial INC now owns 940 shares of the company’s stock valued at $125,000 after acquiring an additional 931 shares during the last quarter. Salem Investment Counselors Inc. raised its position in shares of Clorox by 2.5% during the 2nd quarter. Salem Investment Counselors Inc. now owns 1,256 shares of the company’s stock valued at $167,000 after acquiring an additional 31 shares during the last quarter. Phocas Financial Corp. bought a new stake in shares of Clorox during the 2nd quarter valued at $167,000. Dupont Capital Management Corp bought a new stake in shares of Clorox during the 3rd quarter valued at $199,000. Finally, Smith Moore & CO. bought a new stake in shares of Clorox during the 3rd quarter valued at $204,000. Institutional investors own 72.76% of the company’s stock.

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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.

Analyst Recommendations for Clorox (NYSE:CLX)

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