TD Cowen Issues Positive Forecast for Clorox (NYSE:CLX) Stock Price

Key Points

• TD Cowen raised its price target on Clorox to $111 (from $98) and kept a "hold" rating, implying about a 6.77% upside from the current price.
• Analyst sentiment is mixed-to-negative with an average rating of "Reduce" and a consensus price target of $118, based on 1 Buy, 11 Hold and 4 Sell recommendations; some firms raised targets (UBS, Morgan Stanley) while Goldman cut its target to $94.
• Clorox traded at $103.97 midday, below its 50‑day ($115.37) and 200‑day ($111.85) averages, and last quarter reported EPS of $1.39 (missed by $0.04) with revenue $1.67B, down 0.8% year‑over‑year.

Clorox (NYSE:CLX - Get Free Report) had its price objective upped by equities research analysts at TD Cowen from $98.00 to $111.00 in a report released on Tuesday,MarketScreener reports. The firm currently has a "hold" rating on the stock. TD Cowen's price objective suggests a potential upside of 6.77% from the company's current price.

CLX has been the subject of a number of other reports. Barclays reissued an "underweight" rating and set a $109.00 target price on shares of Clorox in a research note on Friday, January 16th. UBS Group increased their price objective on shares of Clorox from $115.00 to $121.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 4th. Morgan Stanley raised their price objective on shares of Clorox from $125.00 to $136.00 and gave the stock an "equal weight" rating in a report on Thursday, February 5th. The Goldman Sachs Group cut their price objective on shares of Clorox from $110.00 to $94.00 and set a "sell" rating on the stock in a research report on Wednesday, January 7th. Finally, Rothschild & Co Redburn set a $117.00 target price on shares of Clorox in a research note on Friday, February 13th. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, Clorox currently has an average rating of "Reduce" and an average price target of $118.00.

Clorox Trading Up 0.3%

CLX stock traded up $0.34 during midday trading on Tuesday, reaching $103.97. The company's stock had a trading volume of 465,522 shares, compared to its average volume of 2,220,282. The business's 50-day simple moving average is $115.37 and its 200-day simple moving average is $111.85. The company has a quick ratio of 0.48, a current ratio of 0.74 and a debt-to-equity ratio of 71.03. Clorox has a 52 week low of $96.66 and a 52 week high of $150.84. The stock has a market cap of $12.57 billion, a PE ratio of 16.99, a price-to-earnings-growth ratio of 0.50 and a beta of 0.59.

Clorox (NYSE:CLX - Get Free Report) last posted its quarterly earnings results on Tuesday, February 3rd. The company reported $1.39 earnings per share 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 company had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same period last year, the company earned $1.55 EPS. The business's revenue for the quarter was down .8% compared to the same quarter last year. As a group, sell-side analysts expect that Clorox will post 7.15 EPS for the current year.

Hedge Funds Weigh In On Clorox

Hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp boosted its stake in Clorox by 3.5% in the 3rd quarter. State Street Corp now owns 8,434,277 shares of the company's stock valued at $1,039,946,000 after purchasing an additional 282,794 shares during the period. Invesco Ltd. lifted its holdings in shares of Clorox by 22.1% during the fourth quarter. Invesco Ltd. now owns 4,880,341 shares of the company's stock worth $492,085,000 after buying an additional 884,751 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Clorox by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 3,172,233 shares of the company's stock valued at $318,613,000 after acquiring an additional 10,060 shares during the period. Van ECK Associates Corp grew its stake in shares of Clorox by 15.7% in the fourth quarter. Van ECK Associates Corp now owns 3,136,405 shares of the company's stock valued at $316,244,000 after acquiring an additional 426,433 shares in the last quarter. Finally, Two Sigma Investments LP increased its position in Clorox by 33.8% during the third quarter. Two Sigma Investments LP now owns 1,740,175 shares of the company's stock worth $214,564,000 after acquiring an additional 439,797 shares during the period. Institutional investors own 78.53% of the company's stock.

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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