JPMorgan Chase & Co. Downgrades Clorox (NYSE:CLX) to Underweight

Key Points

• JPMorgan Chase downgraded Clorox (NYSE:CLX) from "neutral" to "underweight" and set a $99 price target, implying roughly a 3.17% downside from the current price.
• Analyst sentiment is skewing negative—MarketBeat reports an average rating of "Reduce" with an average target of $113.93 (1 Buy, 12 Hold, 4 Sell), and multiple firms have recently cut price targets.
• Clorox missed Q results (EPS $1.39 vs. $1.43 est.) with revenue down 0.8% YoY; the stock trades around $102.25, market cap ~$12.36B, and a 1-year range of $96.66–$143.96.

Clorox (NYSE:CLX - Get Free Report) was downgraded by stock analysts at JPMorgan Chase & Co. from a "neutral" rating to an "underweight" rating in a report issued on Friday. They currently have a $99.00 price objective on the stock. JPMorgan Chase & Co.'s price objective would indicate a potential downside of 3.17% from the stock's current price.

A number of other equities analysts have also issued reports on CLX. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Clorox from $112.00 to $101.00 and set a "hold" rating on the stock in a research report on Monday, March 30th. Wells Fargo & Company cut their target price on Clorox from $125.00 to $110.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 8th. UBS Group lowered their price target on Clorox from $121.00 to $110.00 and set a "neutral" rating for the company in a research note on Tuesday, April 7th. Evercore decreased their price objective on shares of Clorox from $132.00 to $115.00 and set an "underperform" rating for the company in a report on Wednesday, February 4th. Finally, BNP Paribas Exane raised shares of Clorox from an "underperform" rating to a "neutral" rating in a research report on Wednesday, February 11th. One research analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Reduce" and an average target price of $113.93.

Clorox Stock Down 0.7%

CLX opened at $102.25 on Friday. The stock has a market capitalization of $12.36 billion, a price-to-earnings ratio of 16.74, a P/E/G ratio of 0.51 and a beta of 0.65. Clorox has a 1-year low of $96.66 and a 1-year high of $143.96. The company has a current ratio of 0.74, a quick ratio of 0.48 and a debt-to-equity ratio of 71.03. The business has a 50 day moving average of $113.15 and a 200-day moving average of $110.41.

Clorox (NYSE:CLX - Get Free Report) last posted its earnings results on Tuesday, February 3rd. The company reported $1.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.43 by ($0.04). Clorox had a net margin of 11.17% and a return on equity of 383.01%. The firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter last year, the firm posted $1.55 EPS. The business's revenue was down .8% on a year-over-year basis. As a group, sell-side analysts anticipate that Clorox will post 7.15 earnings per share for the current year.

Institutional Investors Weigh In On Clorox

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Haverford Trust Co increased its holdings in Clorox by 2.8% during the 4th quarter. Haverford Trust Co now owns 3,070 shares of the company's stock worth $310,000 after purchasing an additional 84 shares in the last quarter. Field & Main Bank grew its holdings in shares of Clorox by 3.3% during the fourth quarter. Field & Main Bank now owns 3,100 shares of the company's stock worth $313,000 after buying an additional 100 shares in the last quarter. Golden State Wealth Management LLC raised its position in Clorox by 28.2% in the 4th quarter. Golden State Wealth Management LLC now owns 454 shares of the company's stock valued at $46,000 after buying an additional 100 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Clorox by 1.7% in the 3rd quarter. Fisher Asset Management LLC now owns 6,053 shares of the company's stock valued at $746,000 after acquiring an additional 102 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in Clorox by 8.5% in the 3rd quarter. Blue Trust Inc. now owns 1,333 shares of the company's stock valued at $164,000 after acquiring an additional 104 shares in the last quarter. 78.53% of the stock is currently owned by institutional investors and hedge funds.

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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