TD Cowen Upgrades Clorox (NYSE:CLX) to “Hold”

Clorox (NYSE:CLX) was upgraded by TD Cowen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, MarketBeat reports. The brokerage presently has a $170.00 price objective on the stock, up from their previous price objective of $155.00. TD Cowen’s price target indicates a potential upside of 4.39% from the company’s current price.

CLX has been the subject of a number of other reports. Wells Fargo & Company decreased their price objective on shares of Clorox from $135.00 to $130.00 and set an “underweight” rating for the company in a report on Wednesday, July 10th. JPMorgan Chase & Co. boosted their price objective on shares of Clorox from $148.00 to $174.00 and gave the stock a “neutral” rating in a report on Friday, October 11th. Citigroup boosted their price objective on shares of Clorox from $165.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Evercore ISI decreased their price objective on shares of Clorox from $140.00 to $139.00 and set an “underperform” rating for the company in a report on Monday, October 14th. Finally, DA Davidson boosted their target price on shares of Clorox from $153.00 to $171.00 and gave the company a “neutral” rating in a research note on Monday. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $155.00.

Clorox Stock Performance

Shares of CLX opened at $162.85 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 1.00 and a debt-to-equity ratio of 11.08. The business’s 50 day moving average price is $161.89 and its 200-day moving average price is $146.58. Clorox has a 52 week low of $127.60 and a 52 week high of $169.09. The stock has a market cap of $20.16 billion, a P/E ratio of 56.74, a P/E/G ratio of 3.02 and a beta of 0.41.

Clorox (NYSE:CLX) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.50. Clorox had a return on equity of 316.08% and a net margin of 4.78%. The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the previous year, the firm posted $0.49 EPS. The business’s revenue for the quarter was up 27.0% compared to the same quarter last year. Equities research analysts anticipate that Clorox will post 6.81 earnings per share for the current fiscal year.

Insider Transactions at Clorox

In related news, EVP Angela C. Hilt sold 1,733 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $165.52, for a total value of $286,846.16. Following the completion of the transaction, the executive vice president now owns 13,471 shares of the company’s stock, valued at approximately $2,229,719.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.57% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Innealta Capital LLC bought a new position in Clorox in the 2nd quarter worth $30,000. Trifecta Capital Advisors LLC boosted its holdings in shares of Clorox by 139.8% during the 2nd quarter. Trifecta Capital Advisors LLC now owns 223 shares of the company’s stock valued at $30,000 after purchasing an additional 130 shares during the last quarter. First Foundation Advisors bought a new position in shares of Clorox during the 1st quarter valued at about $31,000. Family Firm Inc. bought a new position in shares of Clorox during the 2nd quarter valued at about $31,000. Finally, Quarry LP boosted its holdings in shares of Clorox by 99.1% during the 2nd quarter. Quarry LP now owns 229 shares of the company’s stock valued at $31,000 after purchasing an additional 114 shares during the last quarter. Institutional investors own 78.53% of the company’s stock.

About Clorox

The Clorox Company manufactures and markets consumer and professional products worldwide. It operates through four segments: Health and Wellness, Household, Lifestyle, and International. The Health and Wellness segment offers cleaning products, such as laundry additives and home care products primarily under the Clorox, Clorox2, Scentiva, Pine-Sol, Liquid-Plumr, Tilex, and Formula 409 brands; professional cleaning and disinfecting products under the CloroxPro and Clorox Healthcare brands; professional food service products under the Hidden Valley brand; and vitamins, minerals and supplement products under the RenewLife, Natural Vitality, NeoCell, and Rainbow Light brands in the United States.