Colgate-Palmolive (NYSE:CL) Price Target Raised to $87.00 at Barclays

Key Points

• Barclays raised Colgate-Palmolive’s price target from $80 to $87 while keeping an “equal weight” rating. The new target still implies about 5.36% downside from the current share price.
• Other analysts remain more optimistic: Citigroup, JPMorgan, UBS, and Goldman Sachs all have higher targets and bullish ratings, and the stock’s consensus rating is now “Moderate Buy” with an average price target of $97.82.
• Colgate-Palmolive recently reported better-than-expected quarterly results, with EPS of $0.97 versus $0.94 expected and revenue up 8.4% year over year to $5.32 billion. Shares were trading at $91.93, near their 50-day and 200-day moving averages.

Colgate-Palmolive (NYSE:CL - Get Free Report) had its target price hoisted by research analysts at Barclays from $80.00 to $87.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Barclays's price objective would indicate a potential downside of 5.36% from the company's current price.

A number of other equities analysts have also recently issued reports on the company. Citigroup increased their target price on Colgate-Palmolive from $105.00 to $110.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. JPMorgan Chase & Co. upped their price objective on Colgate-Palmolive from $96.00 to $104.00 and gave the stock an "overweight" rating in a research report on Thursday, July 16th. Sanford C. Bernstein assumed coverage on Colgate-Palmolive in a research note on Thursday, June 11th. They issued a "market perform" rating and a $96.00 target price on the stock. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Colgate-Palmolive in a research note on Friday, May 1st. Finally, UBS Group increased their target price on shares of Colgate-Palmolive from $100.00 to $106.00 and gave the stock a "buy" rating in a report on Thursday, July 16th. Twelve analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, Colgate-Palmolive presently has an average rating of "Moderate Buy" and an average price target of $97.82.

Colgate-Palmolive Price Performance

Shares of CL opened at $91.93 on Tuesday. The stock has a market cap of $73.56 billion, a P/E ratio of 35.77, a price-to-earnings-growth ratio of 4.90 and a beta of 0.33. Colgate-Palmolive has a 1 year low of $74.54 and a 1 year high of $99.33. The stock's 50-day moving average price is $90.56 and its two-hundred day moving average price is $88.69. The company has a current ratio of 1.02, a quick ratio of 0.67 and a debt-to-equity ratio of 16.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings data on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.94 by $0.03. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The firm had revenue of $5.32 billion during the quarter, compared to analysts' expectations of $5.22 billion. During the same quarter in the previous year, the company earned $0.91 earnings per share. The business's revenue for the quarter was up 8.4% on a year-over-year basis. On average, equities analysts predict that Colgate-Palmolive will post 3.81 earnings per share for the current year.

Institutional Trading of Colgate-Palmolive

A number of institutional investors have recently modified their holdings of the stock. Regent Peak Wealth Advisors LLC acquired a new position in shares of Colgate-Palmolive during the 2nd quarter worth $229,000. Tema ETFs LLC boosted its stake in Colgate-Palmolive by 9.6% in the second quarter. Tema ETFs LLC now owns 13,213 shares of the company's stock valued at $1,211,000 after buying an additional 1,160 shares in the last quarter. Generali Investments Management Co LLC grew its position in Colgate-Palmolive by 22.9% in the second quarter. Generali Investments Management Co LLC now owns 25,401 shares of the company's stock valued at $2,329,000 after acquiring an additional 4,736 shares during the last quarter. E. Ohman J or Asset Management AB grew its position in Colgate-Palmolive by 14.8% in the second quarter. E. Ohman J or Asset Management AB now owns 564,311 shares of the company's stock valued at $51,736,000 after acquiring an additional 72,576 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its stake in Colgate-Palmolive by 6.0% during the second quarter. Handelsbanken Fonder AB now owns 332,176 shares of the company's stock worth $30,454,000 after acquiring an additional 18,816 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors.

About Colgate-Palmolive

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company's core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.

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