WD-40 (NASDAQ:WDFC) Sets New 12-Month Low - Here's What Happened

Key Points

• WD-40 Company's share price hit a new 52-week low at $195.60, closing at $196.99 on a trading volume of 16,195 shares.
• Analysts have downgraded the price objective for WD-40 from $322.00 to $300.00, while maintaining a "buy" rating, reflecting a consensus target price of $290.00.
• The company reported earnings of $1.54 EPS, exceeding the analysts' expectations of $1.40, with a quarterly revenue of $156.92 million, slightly below estimates of $160.60 million.

WD-40 Company (NASDAQ:WDFC - Get Free Report)'s share price reached a new 52-week low on Monday . The company traded as low as $195.60 and last traded at $196.99, with a volume of 16195 shares traded. The stock had previously closed at $199.04.

Analyst Upgrades and Downgrades

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

WD-40 Price Performance

The company has a market cap of $2.65 billion, a PE ratio of 30.88 and a beta of 0.13. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.02 and a current ratio of 2.84. The stock has a 50 day moving average of $214.80 and a 200-day moving average of $227.70.

WD-40 (NASDAQ:WDFC - Get Free Report) last issued its earnings results on Thursday, July 10th. The specialty chemicals company reported $1.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.40 by $0.14. The company had revenue of $156.92 million during 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 firm's quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the business posted $1.46 EPS. Equities analysts predict that WD-40 Company will post 5.42 earnings per share for the current year.

Institutional Trading of WD-40

Several hedge funds and other institutional investors have recently bought and sold shares of WDFC. Alliancebernstein L.P. grew its holdings in WD-40 by 1,767.7% during the first quarter. Alliancebernstein L.P. now owns 448,180 shares of the specialty chemicals company's stock worth $109,356,000 after acquiring an additional 424,183 shares during the period. Norges Bank acquired a new stake in WD-40 during the second quarter worth about $36,563,000. Laurel Wealth Advisors LLC grew its holdings in WD-40 by 22,709.1% during the second quarter. Laurel Wealth Advisors LLC now owns 157,383 shares of the specialty chemicals company's stock worth $35,897,000 after acquiring an additional 156,693 shares during the period. GAMMA Investing LLC grew its holdings in WD-40 by 28,448.0% during the first quarter. GAMMA Investing LLC now owns 114,192 shares of the specialty chemicals company's stock worth $27,863,000 after acquiring an additional 113,792 shares during the period. Finally, Wellington Management Group LLP acquired a new stake in WD-40 during the first quarter worth about $23,556,000. 91.52% of the stock is 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.