Clorox (NYSE:CLX) Price Target Raised to $138.00

Key Points

• Wells Fargo & Company raised Clorox's price target from $135.00 to $138.00, indicating a potential upside of 10.78% from its current price.
• Clorox shares recently traded down 0.8% to $124.57, with analysts giving the stock a consensus rating of "Hold" and an average price target of $145.08.
• The company reported quarterly earnings of $2.87 per share, exceeding the analysts' estimate of $2.24, and showed a revenue increase of 4.5% year-over-year.

Clorox (NYSE:CLX - Get Free Report) had its price objective lifted by equities researchers at Wells Fargo & Company from $135.00 to $138.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Wells Fargo & Company's price target would indicate a potential upside of 10.78% from the company's current price.

A number of other equities analysts also recently commented on the company. Jefferies Financial Group dropped their price objective on Clorox from $167.00 to $145.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. UBS Group lowered their price target on Clorox from $150.00 to $134.00 and set a "neutral" rating on the stock in a report on Thursday, July 17th. Evercore ISI set a $140.00 price target on Clorox and gave the company an "underperform" rating in a report on Tuesday, May 6th. Morgan Stanley lowered their price target on Clorox from $165.00 to $150.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. Finally, Barclays lowered their price target on Clorox from $129.00 to $119.00 and set an "underweight" rating on the stock in a report on Tuesday, July 15th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, Clorox currently has a consensus rating of "Hold" and an average price target of $145.08.

Clorox Stock Down 0.8%

Shares of NYSE CLX traded down $0.99 during mid-day trading on Friday, reaching $124.57. The company had a trading volume of 421,600 shares, compared to its average volume of 1,611,270. The stock has a fifty day moving average of $126.23 and a two-hundred day moving average of $139.39. The company has a debt-to-equity ratio of 13.07, a quick ratio of 0.44 and a current ratio of 0.74. The company has a market capitalization of $15.35 billion, a price-to-earnings ratio of 22.36, a PEG ratio of 3.55 and a beta of 0.51. Clorox has a 12-month low of $117.35 and a 12-month high of $171.37.

Clorox (NYSE:CLX - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $2.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.24 by $0.63. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.94 billion. Clorox had a net margin of 9.89% and a return on equity of 324.23%. The firm's revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.82 earnings per share. As a group, equities research analysts expect that Clorox will post 7.15 EPS for the current year.

Insider Buying and Selling

In other news, Director Pierre R. Breber acquired 4,000 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was purchased at an average cost of $136.57 per share, for a total transaction of $546,280.00. Following the completion of the transaction, the director directly owned 4,000 shares in the company, valued at $546,280. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.57% of the stock is currently owned by insiders.

Institutional Trading of Clorox

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Redwood Park Advisors LLC acquired a new stake in Clorox in the fourth quarter worth about $26,000. Wood Tarver Financial Group LLC bought a new position in shares of Clorox during the 4th quarter valued at about $31,000. GKV Capital Management Co. Inc. bought a new position in shares of Clorox during the 4th quarter valued at about $32,000. Aster Capital Management DIFC Ltd bought a new position in shares of Clorox during the 4th quarter valued at about $33,000. Finally, American National Bank & Trust lifted its holdings in shares of Clorox by 69.5% during the 2nd quarter. American National Bank & Trust now owns 217 shares of the company's stock valued at $26,000 after purchasing an additional 89 shares in the last quarter. 78.53% of the stock is currently owned by institutional investors and hedge funds.

Clorox Company Profile

The Clorox Company manufactures and markets consumer and professional products worldwide. It operates through four segments: Health and Wellness, Household, Lifestyle, and International. The Health and Wellness segment offers cleaning products, such as laundry additives and home care products primarily under the Clorox, Clorox2, Scentiva, Pine-Sol, Liquid-Plumr, Tilex, and Formula 409 brands; professional cleaning and disinfecting products under the CloroxPro and Clorox Healthcare brands; professional food service products under the Hidden Valley brand; and vitamins, minerals and supplement products under the RenewLife, Natural Vitality, NeoCell, and Rainbow Light brands in the United States.

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