WD-40 (NASDAQ:WDFC) was upgraded by analysts at BidaskClub from a "sell" rating to a "hold" rating in a research report issued on Tuesday, BidAskClub reports.
A number of other analysts have also recently issued reports on WDFC. Zacks Investment Research cut WD-40 from a "hold" rating to a "sell" rating in a report on Friday, June 19th. DA Davidson upped their target price on shares of WD-40 from $212.00 to $233.00 and gave the company a "buy" rating in a research note on Friday, July 10th.
NASDAQ:WDFC opened at $193.78 on Tuesday. The company has a market cap of $2.65 billion, a P/E ratio of 53.68 and a beta of -0.11. The firm's 50 day moving average is $198.14 and its two-hundred day moving average is $188.49. WD-40 has a fifty-two week low of $151.16 and a fifty-two week high of $211.68. The company has a quick ratio of 1.45, a current ratio of 1.81 and a debt-to-equity ratio of 0.65.
WD-40 (NASDAQ:WDFC) last issued its earnings results on Thursday, July 9th. The specialty chemicals company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.02). WD-40 had a return on equity of 33.97% and a net margin of 12.30%. The firm had revenue of $98.20 million during the quarter. During the same quarter in the prior year, the business earned $1.30 earnings per share. The company's revenue for the quarter was down 13.9% on a year-over-year basis. Research analysts forecast that WD-40 will post 4.11 earnings per share for the current fiscal year.
In related news, Director William B. Noble sold 500 shares of WD-40 stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $199.70, for a total transaction of $99,850.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.09% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of WDFC. APG Asset Management N.V. raised its stake in shares of WD-40 by 83.3% in the 1st quarter. APG Asset Management N.V. now owns 732,632 shares of the specialty chemicals company's stock valued at $147,149,000 after acquiring an additional 333,000 shares in the last quarter. TD Asset Management Inc. raised its position in shares of WD-40 by 259.2% in the second quarter. TD Asset Management Inc. now owns 108,470 shares of the specialty chemicals company's stock valued at $21,510,000 after purchasing an additional 78,270 shares during the period. Vanguard Group Inc. boosted its holdings in shares of WD-40 by 4.5% during the 2nd quarter. Vanguard Group Inc. now owns 1,579,730 shares of the specialty chemicals company's stock worth $313,260,000 after buying an additional 68,144 shares during the period. Neuberger Berman Group LLC boosted its holdings in shares of WD-40 by 6.7% during the 2nd quarter. Neuberger Berman Group LLC now owns 970,547 shares of the specialty chemicals company's stock worth $192,288,000 after buying an additional 61,369 shares during the period. Finally, Man Group plc raised its holdings in WD-40 by 40.5% in the 2nd quarter. Man Group plc now owns 132,078 shares of the specialty chemicals company's stock worth $26,191,000 after acquiring an additional 38,103 shares during the period. 90.39% of the stock is owned by hedge funds and other institutional investors.
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 offers multi-purpose maintenance products, including aerosol sprays, non-aerosol trigger sprays, and in liquid-bulk form products under the WD-40 Multi-Use brand name for various consumer uses and industrial applications; specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand; and bicycle maintenance products comprising wet and dry chain lubricants, chain cleaners and degreasers, and foaming wash products for avid and recreational cyclists, bike enthusiasts, and mechanics under the WD-40 Bike brand name.
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