Colgate-Palmolive (CL) Lifted to “Buy” at Zacks Investment Research

Colgate-Palmolive (NYSE:CL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage currently has a $83.00 price objective on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 11.23% from the stock’s previous close.

According to Zacks, “Colgate has outperformed the industry in the past month. The company is encouraged by the progress on the Global Growth and Efficiency Program along with additional savings anticipated from the recent expansion of the program. Moreover, the company has been infamous among investors with its meet or beat earnings track record. Though it posted in-line earnings and topped sales estimates in third-quarter 2017, margins remained strained due to increased raw material and packaging costs, as well as higher advertising expenses. Further, it anticipates these costs to persist and impact margins in 2017. The company also perked up its costs guidance related to charges arising from the expansion and extension of the Global Growth and Efficiency Program through Dec 31, 2019. Nonetheless, Colgate’s shareholder-friendly moves remain noteworthy. Estimates have been stable lately ahead of the fourth quarter earnings release.”

Other equities research analysts have also recently issued reports about the company. SunTrust Banks raised Colgate-Palmolive from a “hold” rating to a “buy” rating and lifted their target price for the stock from $65.00 to $85.00 in a report on Wednesday, October 11th. Deutsche Bank assumed coverage on Colgate-Palmolive in a report on Wednesday, December 13th. They issued a “hold” rating and a $75.00 target price on the stock. Royal Bank of Canada reiterated a “hold” rating and issued a $74.00 price target on shares of Colgate-Palmolive in a research report on Sunday, October 8th. Jefferies Group reiterated a “hold” rating and issued a $79.00 price target on shares of Colgate-Palmolive in a research report on Thursday, September 28th. Finally, Stifel Nicolaus set a $73.00 price target on Colgate-Palmolive and gave the stock a “hold” rating in a research report on Sunday, October 29th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $76.45.

Shares of Colgate-Palmolive (CL) traded up $0.07 during mid-day trading on Tuesday, hitting $74.62. The stock had a trading volume of 2,338,100 shares, compared to its average volume of 2,745,422. Colgate-Palmolive has a 1 year low of $63.43 and a 1 year high of $77.27. The company has a quick ratio of 0.92, a current ratio of 1.23 and a debt-to-equity ratio of 24.42. The company has a market capitalization of $65,520.00, a PE ratio of 28.81, a price-to-earnings-growth ratio of 3.15 and a beta of 0.81.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, October 27th. The company reported $0.73 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.73. Colgate-Palmolive had a return on equity of 2,782.56% and a net margin of 15.10%. The firm had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.94 billion. During the same period in the previous year, the firm posted $0.73 earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year. research analysts forecast that Colgate-Palmolive will post 2.88 EPS for the current fiscal year.

In other Colgate-Palmolive news, insider Jennifer Daniels sold 7,375 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $73.18, for a total transaction of $539,702.50. Following the completion of the transaction, the insider now owns 38,691 shares in the company, valued at $2,831,407.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen I. Sadove sold 20,780 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $70.52, for a total value of $1,465,405.60. Following the transaction, the director now owns 36,268 shares of the company’s stock, valued at approximately $2,557,619.36. The disclosure for this sale can be found here. Insiders have sold 181,950 shares of company stock valued at $13,237,385 in the last 90 days. Company insiders own 1.02% of the company’s stock.

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Colgate-Palmolive by 2.4% during the second quarter. Vanguard Group Inc. now owns 67,875,384 shares of the company’s stock valued at $5,031,602,000 after buying an additional 1,621,392 shares during the period. Renaissance Technologies LLC boosted its position in shares of Colgate-Palmolive by 42.4% during the second quarter. Renaissance Technologies LLC now owns 9,753,400 shares of the company’s stock valued at $723,020,000 after buying an additional 2,903,800 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Colgate-Palmolive by 25.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 6,854,323 shares of the company’s stock valued at $508,111,000 after buying an additional 1,385,946 shares during the period. First Eagle Investment Management LLC boosted its position in shares of Colgate-Palmolive by 35.8% during the third quarter. First Eagle Investment Management LLC now owns 6,641,548 shares of the company’s stock valued at $483,837,000 after buying an additional 1,750,417 shares during the period. Finally, Harding Loevner LP boosted its position in shares of Colgate-Palmolive by 92.0% during the third quarter. Harding Loevner LP now owns 4,742,752 shares of the company’s stock valued at $176,329,000 after buying an additional 2,272,675 shares during the period. Institutional investors and hedge funds own 72.86% of the company’s stock.

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Colgate-Palmolive Company Profile

Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.

Analyst Recommendations for Colgate-Palmolive (NYSE:CL)

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