Barclays Has Lowered Expectations for Clorox (NYSE:CLX) Stock Price

Key Points

• Barclays cut its target on Clorox from $109 to $102 and kept an "underweight" rating, implying roughly a 2.34% downside from the then-current price.
• MarketBeat's consensus rating is "Reduce" with a consensus price target of $115.47; analyst coverage is mixed (1 Buy, 12 Hold, 4 Sell).
• Clorox recently missed EPS ( $1.39 vs. $1.43 expected) while revenue was roughly in line and down 0.8% year-over-year; the stock traded near $104.44 with a market cap of about $12.6B and a trailing P/E around 17.

Clorox (NYSE:CLX - Get Free Report) had its target price lowered by equities research analysts at Barclays from $109.00 to $102.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an "underweight" rating on the stock. Barclays's price target would indicate a potential downside of 2.34% from the stock's current price.

Other equities research analysts have also issued research reports about the company. BNP Paribas Exane raised Clorox from an "underperform" rating to a "neutral" rating in a research report on Wednesday, February 11th. TD Cowen increased their price target on Clorox from $98.00 to $111.00 and gave the company a "hold" rating in a research report on Tuesday, March 31st. Citigroup raised their target price on Clorox from $109.00 to $115.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 4th. Rothschild & Co Redburn set a $117.00 target price on Clorox in a research report on Friday, February 13th. Finally, Wall Street Zen raised Clorox from a "sell" rating to a "hold" rating in a research report on Saturday, February 7th. One equities research analyst has rated the stock with a Buy rating, twelve have given a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus price target of $115.47.

Clorox Trading Up 1.0%

CLX traded up $1.05 during mid-day trading on Tuesday, hitting $104.44. 1,503,162 shares of the stock were exchanged, compared to its average volume of 2,228,960. The company has a current ratio of 0.74, a quick ratio of 0.48 and a debt-to-equity ratio of 71.03. The company has a market cap of $12.63 billion, a PE ratio of 17.07, a PEG ratio of 0.52 and a beta of 0.65. The firm's fifty day moving average is $113.96 and its two-hundred day moving average is $110.66. Clorox has a 1-year low of $96.66 and a 1-year high of $143.96.

Clorox (NYSE:CLX - Get Free Report) last posted its quarterly earnings results on Tuesday, February 3rd. The company reported $1.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.43 by ($0.04). The company had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.64 billion. Clorox had a net margin of 11.17% and a return on equity of 383.01%. Clorox's revenue for the quarter was down .8% on a year-over-year basis. During the same period in the prior year, the business earned $1.55 EPS. Equities analysts forecast that Clorox will post 7.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Haverford Trust Co increased its position in Clorox by 2.8% during the fourth quarter. Haverford Trust Co now owns 3,070 shares of the company's stock worth $310,000 after buying an additional 84 shares during the period. Canandaigua National Bank & Trust Co. grew its stake in shares of Clorox by 0.8% in the 3rd quarter. Canandaigua National Bank & Trust Co. now owns 11,196 shares of the company's stock valued at $1,380,000 after purchasing an additional 94 shares during the last quarter. Field & Main Bank increased its holdings in shares of Clorox by 3.3% in the fourth quarter. Field & Main Bank now owns 3,100 shares of the company's stock valued at $313,000 after purchasing an additional 100 shares during the period. Golden State Wealth Management LLC increased its holdings in shares of Clorox by 28.2% in the fourth quarter. Golden State Wealth Management LLC now owns 454 shares of the company's stock valued at $46,000 after purchasing an additional 100 shares during the period. Finally, Fisher Asset Management LLC increased its holdings in shares of Clorox by 1.7% in the third quarter. Fisher Asset Management LLC now owns 6,053 shares of the company's stock valued at $746,000 after purchasing an additional 102 shares during the period. Institutional investors and hedge funds own 78.53% of the company's stock.

About Clorox

The Clorox Company is a leading manufacturer and marketer of consumer and professional products designed to help people care for their homes and live healthy, sustainable lives. Its portfolio spans cleaning and household products, food and beverages, water filtration systems and cat litter, serving both retail and institutional customers. The company's flagship bleach and disinfecting products are well known in the United States and many international markets, where they help prevent the spread of germs in homes, hospitals, schools and businesses.

Clorox's diverse brand lineup includes liquid bleach and surface cleaners, eco-friendly cleaning tools, food preservation and preparation items, charcoal grills and briquettes, specialty foods and beverages, pet care products and personal care lines.

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