Clorox (NYSE:CLX) Price Target Raised to $96.00

by · The Markets Daily

Clorox (NYSE:CLX – Free Report) had its price target boosted by UBS Group from $91.00 to $96.00 in a research report report published on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

Several other equities analysts have also commented on the stock. Evercore raised shares of Clorox from an “underperform” rating to a “hold” rating and set a $99.00 target price on the stock in a report on Monday. Morgan Stanley lowered their price target on shares of Clorox from $97.00 to $87.00 and set an “equal weight” rating for the company in a research note on Thursday, October 15th. Barclays cut their price target on shares of Clorox from $84.00 to $80.00 and set an “underweight” rating for the company in a research report on Friday, October 16th. BNP Paribas Exane cut their price target on shares of Clorox from $97.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, July 20th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and set a $74.00 price objective on shares of Clorox in a research note on Tuesday. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, Clorox presently has an average rating of “Reduce” and a consensus target price of $93.79.

Read Our Latest Research Report on Clorox

Clorox Stock Up 0.5%

Shares of CLX opened at $99.64 on Tuesday. The firm has a market cap of $12.07 billion, a P/E ratio of 15.89, a P/E/G ratio of 3.22 and a beta of 0.59. The stock has a 50 day simple moving average of $87.79 and a two-hundred day simple moving average of $99.72. The company has a debt-to-equity ratio of 32.91, a current ratio of 0.65 and a quick ratio of 0.38. Clorox has a 1 year low of $79.12 and a 1 year high of $128.90.

Clorox (NYSE:CLX – Get Free Report) last posted its quarterly earnings results on Monday, November 2nd. The company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.07 by $0.48. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.88 billion. Clorox had a net margin of 9.41% and a return on equity of 608.30%. The business’s revenue was up 33.3% compared to the same quarter last year. During the same period last year, the firm posted $0.85 earnings per share. On average, analysts forecast that Clorox will post 5.78 earnings per share for the current fiscal year.

Clorox Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Wednesday, October 28th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Wednesday, October 28th. Clorox’s dividend payout ratio is 89.93%.

Insider Activity

In other news, Director Pierre Breber bought 4,000 shares of the business’s stock in a transaction dated Wednesday, November 4th. The shares were purchased at an average price of $100.06 per share, for a total transaction of $400,240.00. Following the completion of the acquisition, the director owned 22,000 shares of the company’s stock, valued at approximately $2,201,320. This trade represents a 22.22% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.51% of the company’s stock.

Institutional Investors Weigh In On Clorox

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its holdings in Clorox by 9.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,402 shares of the company’s stock worth $145,000 after acquiring an additional 119 shares during the last quarter. Elevation Wealth Partners LLC increased its holdings in Clorox by 32.3% in the 3rd quarter. Elevation Wealth Partners LLC now owns 565 shares of the company’s stock worth $46,000 after buying an additional 138 shares in the last quarter. Root Financial Partners LLC increased its holdings in Clorox by 83.8% in the 1st quarter. Root Financial Partners LLC now owns 318 shares of the company’s stock worth $33,000 after buying an additional 145 shares in the last quarter. Eastern Bank raised its position in Clorox by 3.1% in the 3rd quarter. Eastern Bank now owns 5,052 shares of the company’s stock worth $409,000 after buying an additional 150 shares during the last quarter. Finally, Mystic Asset Management Inc. raised its position in Clorox by 1.3% in the 3rd quarter. Mystic Asset Management Inc. now owns 12,112 shares of the company’s stock worth $981,000 after buying an additional 153 shares during the last quarter. 78.53% of the stock is currently owned by institutional investors.

Trending Headlines about Clorox

Here are the key news stories impacting Clorox this week:

  • Positive Sentiment: Director Pierre Breber bought 4,000 shares for about $400,240, increasing his stake by 22.2% to 22,000 shares. The purchase may signal confidence in Clorox’s outlook. SEC filing
  • Positive Sentiment: JPMorgan and UBS analysts said Clorox’s stock is expected to rise, adding to the positive analyst sentiment. JPMorgan analyst report UBS analyst report
  • Positive Sentiment: Evercore upgraded Clorox’s stock rating, another supportive signal from analysts. Evercore rating report
  • Neutral Sentiment: Morgan Stanley raised its price target from $87 to $94 but kept an “equal weight” rating; the new target remained below the referenced share price. Morgan Stanley rating information
  • Negative Sentiment: Clorox’s margin outlook remains a concern: a comparison with PepsiCo highlighted rising costs and tight dividend coverage as risks. Clorox and PepsiCo dividend comparison
  • Negative Sentiment: Other reports cited ETF net selling and Barclays maintaining its sell rating, indicating continued institutional and analyst caution. ETF flows report Barclays rating report

Clorox Company Profile

(Get Free Report)

The Clorox Company, founded in 1913 and headquartered in Oakland, California, is a consumer and professional products company. It began with household bleach and has expanded into a portfolio of brands serving cleaning, household, personal care, food, and professional markets.

Its brands include Clorox disinfecting and cleaning products, Pine-Sol cleaners, Liquid-Plumr drain care, Kingsford charcoal, Fresh Step and Scoop Away cat litter, Hidden Valley dressings and dips, Brita water filtration products, and Burt’s Bees personal care items.

Further Reading