Clorox (NYSE:CLX) Price Target Cut to $83.00 by Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan cut Clorox’s price target from $95 to $83 and maintained an “underweight” rating, implying approximately 2.93% downside from the reported share price.
• Analyst sentiment remains cautious: Clorox has a consensus “Reduce” rating, with 12 Hold ratings and four Sell ratings, and an average price target of $93.57.
• Clorox shares fell 1.8% to $85.50, while the company’s latest quarterly results slightly exceeded expectations with $1.66 in earnings per share and $1.95 billion in revenue, despite a 2% year-over-year revenue decline.

Clorox (NYSE:CLX - Get Free Report) had its price objective cut by JPMorgan Chase & Co. from $95.00 to $83.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s price target would indicate a potential downside of 2.93% from the company's current price.

CLX has been the topic of several other research reports. Wall Street Zen lowered shares of Clorox from a "hold" rating to a "sell" rating in a report on Saturday, October 3rd. Weiss Ratings restated a "hold (c-)" rating on shares of Clorox in a report on Tuesday, October 6th. TD Cowen lowered their price target on Clorox from $85.00 to $80.00 and set a "hold" rating for the company in a report on Tuesday, October 13th. BNP Paribas Exane cut their price objective on Clorox from $97.00 to $95.00 and set a "neutral" rating on the stock in a research report on Monday, July 20th. Finally, Jefferies Financial Group cut Clorox from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $125.00 to $98.00 in a research note on Tuesday, July 28th. Twelve research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average target price of $93.57.

Clorox Trading Down 1.8%

Shares of CLX traded down $1.58 during mid-day trading on Monday, reaching $85.50. The company had a trading volume of 2,117,005 shares, compared to its average volume of 2,643,498. The stock has a market cap of $10.34 billion, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 2.75 and a beta of 0.59. The company has a current ratio of 0.66, a quick ratio of 0.38 and a debt-to-equity ratio of 15.80. The firm has a fifty day simple moving average of $92.27 and a 200-day simple moving average of $95.24. Clorox has a fifty-two week low of $79.12 and a fifty-two week high of $128.90.

Clorox (NYSE:CLX - Get Free Report) last issued its earnings results on Monday, August 3rd. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.02. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.91 billion. Clorox had a return on equity of 522.23% and a net margin of 8.74%. The business's quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the company posted $2.87 EPS. Clorox has set its FY 2027 guidance at 5.700-6.000 EPS. On average, sell-side analysts anticipate that Clorox will post 5.74 EPS for the current fiscal year.

Institutional Trading of Clorox

A number of hedge funds have recently made changes to their positions in the stock. New Wave Wealth Advisors LLC grew its stake in shares of Clorox by 145.8% in the 3rd quarter. New Wave Wealth Advisors LLC now owns 9,646 shares of the company's stock worth $781,000 after purchasing an additional 5,721 shares during the last quarter. OceanIQ Capital LLC raised its holdings in shares of Clorox by 25.2% in the 3rd quarter. OceanIQ Capital LLC now owns 2,980 shares of the company's stock worth $252,000 after purchasing an additional 600 shares in the last quarter. Miramontes Capital LLC lifted its stake in Clorox by 58.3% during the third quarter. Miramontes Capital LLC now owns 5,294 shares of the company's stock valued at $429,000 after purchasing an additional 1,950 shares during the last quarter. Brown Lisle Cummings Inc. lifted its stake in Clorox by 50.3% during the third quarter. Brown Lisle Cummings Inc. now owns 5,204 shares of the company's stock valued at $462,000 after purchasing an additional 1,741 shares during the last quarter. Finally, SteelPeak Wealth LLC bought a new stake in Clorox during the third quarter worth approximately $251,000. Institutional investors and hedge funds own 78.53% of the company's stock.

About Clorox

The Clorox Company, founded in 1913 and headquartered in Oakland, California, is a consumer and professional products company. It began with household bleach and has expanded into a portfolio of brands serving cleaning, household, personal care, food, and professional markets.

Its brands include Clorox disinfecting and cleaning products, Pine-Sol cleaners, Liquid-Plumr drain care, Kingsford charcoal, Fresh Step and Scoop Away cat litter, Hidden Valley dressings and dips, Brita water filtration products, and Burt's Bees personal care items.

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