JPMorgan Chase & Co. Cuts Clorox (NYSE:CLX) Price Target to $140.00

Key Points

• JPMorgan Chase & Co. has lowered its price target for Clorox (NYSE:CLX) from $144.00 to $140.00, maintaining a "neutral" rating on the stock.
• Other firms, including Morgan Stanley and Citigroup, have also cut their price targets, reflecting a consensus rating of "Hold" with a target of $144.83.
• Clorox reported a quarterly earnings miss, with an EPS of $1.45 compared to expectations of $1.57, and revenues of $1.67 billion, down from last year.

Clorox (NYSE:CLX - Get Free Report) had its price target dropped by equities researchers at JPMorgan Chase & Co. from $144.00 to $140.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 7.03% from the stock's current price.

Several other research firms have also recently weighed in on CLX. Morgan Stanley decreased their price objective on shares of Clorox from $165.00 to $150.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. Citigroup restated a "neutral" rating and set a $135.00 target price (down previously from $140.00) on shares of Clorox in a report on Tuesday, July 15th. Evercore ISI set a $140.00 target price on Clorox and gave the company an "underperform" rating in a report on Tuesday, May 6th. Barclays decreased their price objective on Clorox from $129.00 to $119.00 and set an "underweight" rating for the company in a report on Tuesday, July 15th. Finally, Wells Fargo & Company reduced their price target on Clorox from $142.00 to $135.00 and set an "equal weight" rating for the company in a report on Wednesday, July 9th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $144.83.

Clorox Trading Down 0.5%

Clorox stock traded down $0.62 during mid-day trading on Friday, hitting $130.80. 1,287,038 shares of the stock were exchanged, compared to its average volume of 1,599,588. The firm's fifty day simple moving average is $126.88 and its two-hundred day simple moving average is $140.49. The stock has a market capitalization of $16.12 billion, a price-to-earnings ratio of 23.48, a PEG ratio of 3.46 and a beta of 0.51. The company has a quick ratio of 0.44, a current ratio of 0.74 and a debt-to-equity ratio of 13.07. 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 Monday, May 5th. The company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.12). The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.74 billion. Clorox had a net margin of 9.89% and a return on equity of 324.23%. The business's revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.71 EPS. Analysts forecast that Clorox will post 7.15 EPS for the current year.

Insiders Place Their Bets

In related news, Director Pierre R. Breber purchased 4,000 shares of Clorox stock in a transaction that occurred on Wednesday, May 7th. The stock was bought 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 owned 4,000 shares in the company, valued at $546,280. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.57% of the company's stock.

Institutional Trading of Clorox

Institutional investors have recently bought and sold shares of the business. Redwood Park Advisors LLC acquired a new stake in Clorox in the fourth quarter valued at approximately $26,000. Wood Tarver Financial Group LLC acquired a new stake in Clorox in the fourth quarter valued at approximately $31,000. GKV Capital Management Co. Inc. acquired a new stake in Clorox in the fourth quarter valued at approximately $32,000. Aster Capital Management DIFC Ltd acquired a new stake in Clorox in the fourth quarter valued at approximately $33,000. Finally, American National Bank & Trust grew its holdings in Clorox by 69.5% in the second quarter. American National Bank & Trust now owns 217 shares of the company's stock valued at $26,000 after purchasing an additional 89 shares during the period. 78.53% of the stock is owned by institutional investors and hedge funds.

About Clorox

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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