WD-40 (WDFC) PT Set at $120.00 by Jefferies Group

Jefferies Group set a $120.00 price target on WD-40 (NASDAQ:WDFC) in a report issued on Friday morning. The brokerage currently has a hold rating on the specialty chemicals company’s stock. Jefferies Group also issued estimates for WD-40’s FY2018 earnings at $4.10 EPS, FY2019 earnings at $4.50 EPS and FY2020 earnings at $4.95 EPS.

A number of other research analysts have also commented on WDFC. BidaskClub lowered shares of WD-40 from a buy rating to a hold rating in a research note on Tuesday, December 12th. Zacks Investment Research upgraded shares of WD-40 from a hold rating to a buy rating and set a $138.00 price objective on the stock in a research note on Saturday, January 13th. Finally, B. Riley reiterated a neutral rating and set a $135.00 price objective (up previously from $125.00) on shares of WD-40 in a research note on Friday. Four research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. WD-40 currently has an average rating of Hold and an average price target of $128.75.

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Shares of WDFC traded down $4.35 during mid-day trading on Friday, reaching $128.65. 159,160 shares of the company’s stock traded hands, compared to its average volume of 65,773. The stock has a market cap of $1,858.57, a PE ratio of 34.58, a price-to-earnings-growth ratio of 3.38 and a beta of 0.54. The company has a current ratio of 3.90, a quick ratio of 3.29 and a debt-to-equity ratio of 1.05. WD-40 has a 12 month low of $100.60 and a 12 month high of $134.45.

WD-40 (NASDAQ:WDFC) last released its quarterly earnings results on Thursday, April 5th. The specialty chemicals company reported $1.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.10. The company had revenue of $101.30 million for the quarter, compared to analysts’ expectations of $102.49 million. WD-40 had a return on equity of 40.28% and a net margin of 14.29%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.87 earnings per share. analysts forecast that WD-40 will post 3.94 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Friday, April 20th will be paid a dividend of $0.54 per share. The ex-dividend date is Thursday, April 19th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.68%. WD-40’s dividend payout ratio is presently 58.06%.

In related news, insider Michael L. Freeman sold 4,861 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $119.58, for a total transaction of $581,278.38. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Geoffrey Holdsworth sold 1,690 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $126.85, for a total transaction of $214,376.50. The disclosure for this sale can be found here. 3.90% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. Meadow Creek Investment Management LLC grew its position in WD-40 by 16.4% in the fourth quarter. Meadow Creek Investment Management LLC now owns 2,890 shares of the specialty chemicals company’s stock worth $341,000 after buying an additional 408 shares during the last quarter. Raymond James & Associates grew its position in WD-40 by 3.7% in the fourth quarter. Raymond James & Associates now owns 11,828 shares of the specialty chemicals company’s stock worth $1,396,000 after buying an additional 425 shares during the last quarter. Whittier Trust Co. grew its position in WD-40 by 2.1% in the fourth quarter. Whittier Trust Co. now owns 24,151 shares of the specialty chemicals company’s stock worth $2,850,000 after buying an additional 503 shares during the last quarter. American International Group Inc. grew its position in WD-40 by 5.7% in the third quarter. American International Group Inc. now owns 10,968 shares of the specialty chemicals company’s stock worth $1,227,000 after buying an additional 588 shares during the last quarter. Finally, Legal & General Group Plc grew its position in WD-40 by 2.3% in the third quarter. Legal & General Group Plc now owns 27,721 shares of the specialty chemicals company’s stock worth $3,102,000 after buying an additional 615 shares during the last quarter. Hedge funds and other institutional investors own 85.92% of the company’s stock.

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About WD-40

WD-40 Company engages in the development and sale of maintenance products, and homecare and cleaning products. It offers multi-purpose maintenance products, including aerosol sprays, non-aerosol trigger sprays, and in liquid-bulk form products under the WD-40 Multi-Use brand name for various consumer uses; specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand name; and bicycle maintenance products under the WD-40 Bike brand name comprising wet and dry chain lubricants, chain cleaners and degreasers, and foaming wash products that are designed for avid and recreational cyclists, bike enthusiasts, and mechanics.

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