WD-40 (NASDAQ:WDFC) Hits New 52-Week Low - What's Next?

Key Points

• WD-40 Company (NASDAQ:WDFC) shares recently hit a new 52-week low, trading as low as $206.09.
• DA Davidson reduced their price target for WD-40 from $322.00 to $300.00 while maintaining a "buy" rating, with a consensus target price of $290.00.
• The company's quarterly earnings report showed earnings per share of $1.54, exceeding analysts' expectations, although revenue fell short of projections at $156.92 million.

Shares of WD-40 Company (NASDAQ:WDFC - Get Free Report) hit a new 52-week low on Tuesday . The stock traded as low as $206.09 and last traded at $206.58, with a volume of 49202 shares trading hands. The stock had previously closed at $207.81.

Analysts Set New Price Targets

Separately, DA Davidson decreased their price target on WD-40 from $322.00 to $300.00 and set a "buy" rating on the stock in a research note on Friday, July 11th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, WD-40 currently has an average rating of "Moderate Buy" and a consensus target price of $290.00.

WD-40 Stock Performance

The stock has a 50-day simple moving average of $216.41 and a 200 day simple moving average of $228.89. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.84 and a quick ratio of 2.02. The company has a market capitalization of $2.78 billion, a PE ratio of 32.40 and a beta of 0.13.

WD-40 (NASDAQ:WDFC - Get Free Report) last released its quarterly earnings results on Thursday, July 10th. The specialty chemicals company reported $1.54 earnings per share for the quarter, topping analysts' consensus estimates of $1.40 by $0.14. WD-40 had a return on equity of 31.23% and a net margin of 14.13%.The company had revenue of $156.92 million during the quarter, compared to analysts' expectations of $160.60 million. During the same period in the previous year, the firm posted $1.46 earnings per share. The business's revenue for the quarter was up 1.2% compared to the same quarter last year. Equities analysts anticipate that WD-40 Company will post 5.42 EPS for the current fiscal year.

Hedge Funds Weigh In On WD-40

Several institutional investors have recently added to or reduced their stakes in the business. Public Sector Pension Investment Board increased its stake in WD-40 by 7.4% in the second quarter. Public Sector Pension Investment Board now owns 46,152 shares of the specialty chemicals company's stock valued at $10,527,000 after purchasing an additional 3,171 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in WD-40 by 1,303.4% in the second quarter. Tower Research Capital LLC TRC now owns 2,035 shares of the specialty chemicals company's stock valued at $464,000 after purchasing an additional 1,890 shares during the last quarter. Corient Private Wealth LLC increased its stake in WD-40 by 94.3% in the second quarter. Corient Private Wealth LLC now owns 19,118 shares of the specialty chemicals company's stock valued at $4,360,000 after purchasing an additional 9,280 shares during the last quarter. State of Tennessee Department of Treasury increased its stake in WD-40 by 11.3% in the second quarter. State of Tennessee Department of Treasury now owns 5,115 shares of the specialty chemicals company's stock valued at $1,167,000 after purchasing an additional 518 shares during the last quarter. Finally, WFA of San Diego LLC acquired a new stake in WD-40 during the second quarter worth about $131,000. 91.52% of the stock is currently owned by institutional investors and hedge funds.

About WD-40

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.