DA Davidson Has Lowered Expectations for WD-40 (NASDAQ:WDFC) Stock Price

WD-40 (NASDAQ:WDFC - Get Free Report) had its price objective dropped by equities researchers at DA Davidson from $322.00 to $300.00 in a report issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the specialty chemicals company's stock. DA Davidson's price objective would suggest a potential upside of 32.45% from the stock's previous close.

WD-40 Trading Up 0.7%

WDFC stock traded up $1.61 during mid-day trading on Friday, reaching $226.51. 116,673 shares of the stock traded hands, compared to its average volume of 121,731. WD-40 has a one year low of $208.00 and a one year high of $292.36. The stock has a market capitalization of $3.07 billion, a PE ratio of 36.13 and a beta of 0.14. The business has a 50-day moving average price of $238.92 and a two-hundred day moving average price of $235.97. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.69 and a current ratio of 2.40.

WD-40 (NASDAQ:WDFC - Get Free Report) last announced its quarterly earnings data on Thursday, July 10th. The specialty chemicals company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.14. The company had revenue of $156.92 million for the quarter, compared to analysts' expectations of $160.60 million. WD-40 had a return on equity of 31.55% and a net margin of 13.99%. WD-40's revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.46 earnings per share. Equities research analysts expect that WD-40 will post 5.42 EPS for the current year.

Institutional Investors Weigh In On WD-40

Institutional investors have recently bought and sold shares of the company. Ameriflex Group Inc. acquired a new stake in WD-40 in the fourth quarter valued at approximately $25,000. TD Waterhouse Canada Inc. acquired a new position in WD-40 during the 4th quarter valued at approximately $27,000. Versant Capital Management Inc increased its stake in WD-40 by 96.1% during the 1st quarter. Versant Capital Management Inc now owns 149 shares of the specialty chemicals company's stock valued at $36,000 after purchasing an additional 73 shares in the last quarter. Golden State Wealth Management LLC increased its stake in WD-40 by 210.6% during the 1st quarter. Golden State Wealth Management LLC now owns 146 shares of the specialty chemicals company's stock valued at $36,000 after purchasing an additional 99 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in WD-40 by 82.6% during the 1st quarter. Parallel Advisors LLC now owns 157 shares of the specialty chemicals company's stock valued at $38,000 after purchasing an additional 71 shares in the last quarter. 91.52% of the stock is currently owned by institutional investors and hedge funds.

WD-40 Company Profile

WD-40 Company develops and sells maintenance products, and homecare and cleaning products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides multi-purpose maintenance products that include aerosol sprays, non-aerosol trigger sprays, precision pens, and in liquid-bulk form products under the WD-40 Multi-Use brand name; specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand; and bike-specific products.

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