WD-40 (WDFC) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of WD-40 (NASDAQ:WDFC) from a hold rating to a sell rating in a report published on Wednesday.

According to Zacks, “WD-40 Company is a tribe of passionate, committed professionals, all dedicated to the same goal: to create positive lasting memories in every interaction they have. They’re a global marketing organization dedicated to creating positive lasting memories by developing and selling products that solve problems in workshops, factories and homes around the world. They offer multi-purpose maintenance products, including aerosol sprays, non-aerosol trigger sprays, and in liquid form under the WD-40 Multi-Use brand for various consumer uses; and specialty maintenance products that comprise penetrants, degreasers, corrosion inhibitors, lubricants, and rust removers under the WD-40 Specialist brand name. The company also provides products under the WD-40 Bike product brand consisting of wet and dry chain lubricants, heavy-duty degreasers, and foaming wash products for avid and recreational cyclists, bike enthusiasts, and mechanics; multi-purpose and specialty drip oils, and spray lubricant products. “

Other analysts also recently issued reports about the stock. BidaskClub upgraded shares of WD-40 from a buy rating to a strong-buy rating in a research report on Saturday, September 8th. B. Riley increased their price target on shares of WD-40 from $135.00 to $152.00 and gave the company a neutral rating in a research report on Wednesday, July 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The company has a consensus rating of Hold and an average price target of $149.67.

Shares of NASDAQ:WDFC traded up $1.19 during mid-day trading on Wednesday, reaching $174.79. The stock had a trading volume of 98,012 shares, compared to its average volume of 94,304. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of 42.32, a P/E/G ratio of 3.89 and a beta of 0.52. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.96 and a quick ratio of 1.53. WD-40 has a twelve month low of $111.50 and a twelve month high of $184.25.

WD-40 (NASDAQ:WDFC) last announced its quarterly earnings results on Thursday, October 18th. The specialty chemicals company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.55. The business had revenue of $102.60 million for the quarter. WD-40 had a net margin of 15.96% and a return on equity of 38.51%. The business’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.01 earnings per share. Equities research analysts expect that WD-40 will post 4.5 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 31st. Investors of record on Friday, October 19th were paid a dividend of $0.54 per share. The ex-dividend date of this dividend was Thursday, October 18th. This represents a $2.16 dividend on an annualized basis and a yield of 1.24%. WD-40’s payout ratio is 52.30%.

In related news, insider William B. Noble sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $166.13, for a total transaction of $332,260.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Stanley Sewitch, Jr. sold 2,167 shares of the stock in a transaction that occurred on Monday, October 29th. The stock was sold at an average price of $166.15, for a total value of $360,047.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,334 shares of company stock valued at $1,047,262. 2.09% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vident Investment Advisory LLC increased its stake in WD-40 by 9.8% during the 2nd quarter. Vident Investment Advisory LLC now owns 3,416 shares of the specialty chemicals company’s stock worth $500,000 after purchasing an additional 306 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in WD-40 by 13.9% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,936 shares of the specialty chemicals company’s stock worth $505,000 after purchasing an additional 358 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in WD-40 by 12.5% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 3,312 shares of the specialty chemicals company’s stock worth $570,000 after purchasing an additional 369 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in shares of WD-40 by 44.9% during the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,224 shares of the specialty chemicals company’s stock worth $211,000 after acquiring an additional 379 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in shares of WD-40 by 1.0% during the 2nd quarter. Rhumbline Advisers now owns 39,854 shares of the specialty chemicals company’s stock worth $5,829,000 after acquiring an additional 384 shares in the last quarter. 89.03% of the stock is owned by institutional investors and hedge funds.

WD-40 Company Profile

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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