Clorox (NYSE:CLX) Given New $110.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo cut its price target on Clorox to $110 (from $125) and kept an "equal weight" rating, implying about a 6.8% upside from the prior close.
• The analyst consensus is a "Reduce" rating with a $116.27 average target; analysts break down as 1 Buy, 11 Hold and 4 Sell.
• Clorox's latest quarter showed an EPS miss of $1.39 vs. $1.43 expected, with revenue of $1.67 billion (slightly above estimates) and revenue down 0.8% year‑over‑year.

Clorox (NYSE:CLX - Get Free Report) had its price target cut by Wells Fargo & Company from $125.00 to $110.00 in a report issued on Wednesday,MarketScreener reports. The firm presently has an "equal weight" rating on the stock. Wells Fargo & Company's target price would suggest a potential upside of 6.80% from the stock's previous close.

A number of other research firms have also recently weighed in on CLX. Evercore reduced their price objective on shares of Clorox from $132.00 to $115.00 and set an "underperform" rating for the company in a research report on Wednesday, February 4th. Wall Street Zen upgraded Clorox from a "sell" rating to a "hold" rating in a research report on Saturday, February 7th. The Goldman Sachs Group reduced their price target on Clorox from $110.00 to $94.00 and set a "sell" rating on the stock in a report on Wednesday, January 7th. BNP Paribas Exane raised shares of Clorox from an "underperform" rating to a "neutral" rating in a report on Wednesday, February 11th. Finally, Rothschild & Co Redburn set a $117.00 price objective on shares of Clorox in a research report on Friday, February 13th. One research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus target price of $116.27.

Clorox Stock Performance

CLX stock opened at $103.00 on Wednesday. Clorox has a one year low of $96.66 and a one year high of $143.96. The firm has a market cap of $12.45 billion, a price-to-earnings ratio of 16.83, a PEG ratio of 0.50 and a beta of 0.65. The company has a debt-to-equity ratio of 71.03, a quick ratio of 0.48 and a current ratio of 0.74. The firm has a 50-day simple moving average of $114.41 and a two-hundred day simple moving average of $111.11.

Clorox (NYSE:CLX - Get Free Report) last issued its quarterly earnings data on Tuesday, February 3rd. The company reported $1.39 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.04). The business 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%. The firm's revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the business posted $1.55 earnings per share. On average, equities analysts forecast that Clorox will post 7.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Clorox

Several institutional investors have recently modified their holdings of the company. State Street Corp lifted its stake in Clorox by 3.5% during the third quarter. State Street Corp now owns 8,434,277 shares of the company's stock worth $1,039,946,000 after purchasing an additional 282,794 shares during the last quarter. Invesco Ltd. grew its position in shares of Clorox by 22.1% in the 4th quarter. Invesco Ltd. now owns 4,880,341 shares of the company's stock valued at $492,085,000 after buying an additional 884,751 shares during the last quarter. Geode Capital Management LLC raised its stake in Clorox by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 3,172,233 shares of the company's stock worth $318,613,000 after acquiring an additional 10,060 shares in the last quarter. Van ECK Associates Corp increased its position in Clorox by 15.7% during the fourth quarter. Van ECK Associates Corp now owns 3,136,405 shares of the company's stock worth $316,244,000 after buying an additional 426,433 shares during the period. Finally, Two Sigma Investments LP lifted its stake in Clorox by 33.8% in the third quarter. Two Sigma Investments LP now owns 1,740,175 shares of the company's stock valued at $214,564,000 after buying an additional 439,797 shares during the last quarter. 78.53% of the stock is owned by hedge funds and other institutional investors.

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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