Clorox (NYSE:CLX) Downgraded to “Hold” at ValuEngine

Clorox (NYSE:CLX) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Thursday, ValuEngine reports.

Several other brokerages have also recently weighed in on CLX. BMO Capital Markets set a $168.00 price target on shares of Clorox and gave the company a “buy” rating in a research report on Thursday, May 2nd. Citigroup set a $156.00 price target on shares of Clorox and gave the company a “hold” rating in a research report on Thursday, May 23rd. Bank of America reissued a “neutral” rating and set a $154.00 price target (down previously from $165.00) on shares of Clorox in a research report on Thursday, May 2nd. Zacks Investment Research raised shares of Clorox from a “sell” rating to a “hold” rating and set a $175.00 price target on the stock in a research report on Monday. Finally, Wells Fargo & Co restated a “hold” rating and issued a $153.00 price objective on shares of Clorox in a report on Friday, July 12th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $155.50.

Shares of CLX stock traded down $6.46 on Thursday, hitting $156.14. 2,592,057 shares of the stock traded hands, compared to its average volume of 1,013,881. The company’s 50-day moving average price is $157.74. The company has a quick ratio of 0.66, a current ratio of 1.10 and a debt-to-equity ratio of 2.93. The company has a market capitalization of $20.14 billion, a PE ratio of 24.94, a PEG ratio of 4.84 and a beta of 0.38. Clorox has a twelve month low of $137.50 and a twelve month high of $167.70.

Clorox (NYSE:CLX) last announced its quarterly earnings results on Thursday, August 1st. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.04. The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.69 billion. Clorox had a net margin of 12.68% and a return on equity of 108.82%. The company’s revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.66 EPS. As a group, equities research analysts expect that Clorox will post 6.29 EPS for the current fiscal year.

In related news, SVP Denise Garner sold 20,399 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $157.61, for a total value of $3,215,086.39. Following the sale, the senior vice president now directly owns 4,896 shares in the company, valued at approximately $771,658.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.40% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of the business. Boys Arnold & Co. Inc. increased its stake in Clorox by 1.6% during the second quarter. Boys Arnold & Co. Inc. now owns 9,500 shares of the company’s stock worth $1,455,000 after purchasing an additional 151 shares during the period. Executive Wealth Management LLC increased its stake in shares of Clorox by 14.2% during the second quarter. Executive Wealth Management LLC now owns 23,014 shares of the company’s stock worth $3,524,000 after buying an additional 2,867 shares during the period. Amica Retiree Medical Trust purchased a new stake in shares of Clorox during the second quarter worth approximately $90,000. DekaBank Deutsche Girozentrale increased its stake in shares of Clorox by 4.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 445,215 shares of the company’s stock worth $67,858,000 after buying an additional 18,202 shares during the period. Finally, Coastal Investment Advisors Inc. increased its stake in shares of Clorox by 43.8% during the second quarter. Coastal Investment Advisors Inc. now owns 1,011 shares of the company’s stock worth $156,000 after buying an additional 308 shares during the period. Institutional investors own 76.92% of the company’s stock.

Clorox Company Profile

The Clorox Company manufactures and markets consumer and professional products worldwide. It operates through four segments: Cleaning, Household, Lifestyle, and International. The company offers laundry additives, including bleach products under the Clorox brand, as well as Clorox 2 stain fighter and color booster; home care products primarily under the Clorox, Formula 409, Liquid-Plumr, Pine-Sol, S.O.S, and Tilex brands; naturally derived products under the Green Works brand; and professional cleaning, disinfecting, and food service products under the Clorox, Dispatch, HealthLink, Clorox Healthcare, Hidden Valley, KC Masterpiece, and Soy Vay brands.

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Analyst Recommendations for Clorox (NYSE:CLX)

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