WD-40 (NASDAQ:WDFC) Receives "Hold (C)" Rating from Weiss Ratings

Key Points

• WD-40's stock has been given a "hold (C)" rating by Weiss Ratings, reflecting a cautious outlook from investment analysts.
• DA Davidson revised its price target for WD-40 from $322.00 to $300.00, maintaining a "buy" rating, while the consensus target price is currently set at $290.00.
• WD-40 reported a quarterly earnings per share of $1.54, surpassing analysts' expectations, although revenue came in below estimates.

WD-40 (NASDAQ:WDFC - Get Free Report)'s stock had its "hold (c)" rating restated by investment analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Separately, DA Davidson dropped their price objective on WD-40 from $322.00 to $300.00 and set a "buy" rating for the company in a report on Friday, July 11th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $290.00.

WD-40 Stock Down 0.8%

Shares of WDFC traded down $1.61 during midday trading on Wednesday, reaching $192.38. 56,316 shares of the stock were exchanged, compared to its average volume of 144,113. The company has a quick ratio of 2.02, a current ratio of 2.84 and a debt-to-equity ratio of 0.33. The company has a market cap of $2.60 billion, a price-to-earnings ratio of 30.30 and a beta of 0.09. The firm has a 50 day simple moving average of $212.16 and a 200-day simple moving average of $225.65. WD-40 has a 12-month low of $190.67 and a 12-month high of $292.36.

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

Institutional Investors Weigh In On WD-40

A number of large investors have recently modified their holdings of WDFC. Farther Finance Advisors LLC boosted its holdings in shares of WD-40 by 420.0% in the 1st quarter. Farther Finance Advisors LLC now owns 156 shares of the specialty chemicals company's stock valued at $38,000 after purchasing an additional 126 shares in the last quarter. GAMMA Investing LLC increased its holdings in WD-40 by 17.0% during the 1st quarter. GAMMA Investing LLC now owns 468 shares of the specialty chemicals company's stock worth $114,000 after purchasing an additional 68 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of WD-40 in the 1st quarter worth approximately $6,072,000. Handelsbanken Fonder AB boosted its stake in shares of WD-40 by 23.9% in the 1st quarter. Handelsbanken Fonder AB now owns 4,665 shares of the specialty chemicals company's stock worth $1,138,000 after buying an additional 900 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in WD-40 by 36.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,830 shares of the specialty chemicals company's stock valued at $447,000 after purchasing an additional 491 shares during the last quarter. Institutional investors and hedge funds own 91.52% of the company's stock.

WD-40 Company Profile

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.

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