UBS Group assumed coverage on shares of Clorox (NYSE:CLX) in a research report released on Wednesday morning, 247wallst.com reports. The brokerage issued a sell rating and a $110.00 price objective on the stock.
Several other analysts have also recently weighed in on the company. Goldman Sachs Group cut Clorox from a neutral rating to a sell rating and cut their price objective for the company from $127.00 to $112.00 in a research report on Tuesday. They noted that the move was a valuation call. Bank of America lifted their price objective on Clorox from $130.00 to $140.00 and gave the company a neutral rating in a research report on Monday. ValuEngine raised Clorox from a sell rating to a hold rating in a research report on Tuesday, June 26th. Zacks Investment Research raised Clorox from a sell rating to a hold rating in a research report on Tuesday, May 8th. Finally, Citigroup dropped their price target on Clorox from $139.00 to $126.00 and set a neutral rating on the stock in a research report on Friday, May 4th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company. Clorox has an average rating of Hold and an average price target of $128.84.
Clorox traded up $0.46, hitting $129.99, during trading hours on Wednesday, Marketbeat reports. 38,232 shares of the stock traded hands, compared to its average volume of 1,143,084. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.93 and a current ratio of 1.18. The stock has a market cap of $17.49 billion, a price-to-earnings ratio of 23.90, a PEG ratio of 2.73 and a beta of 0.38. Clorox has a one year low of $113.57 and a one year high of $150.40.
Clorox (NYSE:CLX) last posted its quarterly earnings data on Wednesday, May 2nd. The company reported $1.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.06. The business had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.51 billion. Clorox had a return on equity of 107.93% and a net margin of 13.27%. The business’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.31 EPS. analysts predict that Clorox will post 5.65 earnings per share for the current year.
Clorox announced that its Board of Directors has approved a share repurchase program on Thursday, May 24th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 12.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 17th. Stockholders of record on Wednesday, August 1st will be given a $0.96 dividend. The ex-dividend date is Tuesday, July 31st. This represents a $3.84 dividend on an annualized basis and a dividend yield of 2.95%. Clorox’s dividend payout ratio is currently 71.78%.
Several institutional investors and hedge funds have recently modified their holdings of the company. Northstar Investment Advisors LLC bought a new stake in shares of Clorox in the 2nd quarter worth approximately $202,000. Amalgamated Bank boosted its position in shares of Clorox by 7.0% in the 2nd quarter. Amalgamated Bank now owns 19,770 shares of the company’s stock worth $2,674,000 after purchasing an additional 1,288 shares in the last quarter. World Asset Management Inc boosted its position in shares of Clorox by 4.9% in the 2nd quarter. World Asset Management Inc now owns 10,462 shares of the company’s stock worth $1,415,000 after purchasing an additional 487 shares in the last quarter. Prospera Financial Services Inc bought a new stake in shares of Clorox in the 2nd quarter worth approximately $257,000. Finally, Oakbrook Investments LLC bought a new stake in shares of Clorox in the 2nd quarter worth approximately $203,000. 76.21% of the stock is currently owned by hedge funds and other institutional investors.
The Clorox Company manufactures and markets consumer and professional products worldwide. It operates through four segments: Cleaning, Household, Lifestyle, and International. The company offers laundry additives, including bleach products under the Clorox brand, as well as Clorox 2 stain fighters and color boosters; home care products primarily under the Clorox, Formula 409, Liquid-Plumr, Pine-Sol, S.O.S, and Tilex brands; naturally derived products under the Green Works brand; and professional cleaning and disinfecting products under the Clorox, Dispatch, Aplicare, HealthLink, and Clorox Healthcare brands.
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