Clorox (CLX) Stock Rating Reaffirmed by Bank of America

Clorox (NYSE:CLX)‘s stock had its “neutral” rating restated by equities researchers at Bank of America in a research report issued on Thursday, Marketbeat.com reports. They currently have a $170.00 target price on the stock, up from their prior target price of $150.00. Bank of America’s price objective would indicate a potential upside of 4.63% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Zacks Investment Research raised Clorox from a “hold” rating to a “buy” rating and set a $171.00 price target for the company in a report on Wednesday, October 3rd. Argus raised Clorox from a “hold” rating to a “buy” rating and set a $175.00 price target for the company in a report on Tuesday, September 25th. ValuEngine raised Clorox from a “hold” rating to a “buy” rating in a report on Saturday, September 22nd. BMO Capital Markets raised their price objective on Clorox from $153.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, November 2nd. Finally, Barclays set a $131.00 price objective on Clorox and gave the stock a “hold” rating in a research note on Saturday, October 6th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $144.93.

NYSE:CLX opened at $162.47 on Thursday. The company has a market cap of $20.90 billion, a P/E ratio of 25.95, a PEG ratio of 4.02 and a beta of 0.30. The company has a quick ratio of 0.65, a current ratio of 1.07 and a debt-to-equity ratio of 3.38. Clorox has a 1-year low of $113.57 and a 1-year high of $167.70.

Clorox (NYSE:CLX) last released its quarterly earnings results on Wednesday, October 31st. The company reported $1.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.03. The business had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Clorox had a return on equity of 102.65% and a net margin of 13.59%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the firm posted $1.46 EPS. As a group, equities research analysts forecast that Clorox will post 6.31 earnings per share for the current year.

In other Clorox news, SVP Diego J. Barral sold 12,880 shares of the firm’s stock in a transaction on Tuesday, November 6th. The stock was sold at an average price of $157.98, for a total transaction of $2,034,782.40. Following the transaction, the senior vice president now owns 18,603 shares in the company, valued at approximately $2,938,901.94. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Benno O. Dorer sold 152,449 shares of the firm’s stock in a transaction on Tuesday, December 4th. The stock was sold at an average price of $164.83, for a total value of $25,128,168.67. Following the transaction, the chief executive officer now owns 111,735 shares in the company, valued at approximately $18,417,280.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 265,851 shares of company stock worth $43,238,681. Corporate insiders own 1.40% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of CLX. Csenge Advisory Group bought a new position in shares of Clorox in the 3rd quarter valued at $100,000. Cornerstone Wealth Management LLC bought a new position in shares of Clorox in the 2nd quarter valued at $105,000. Fort L.P. bought a new position in shares of Clorox in the 2nd quarter valued at $129,000. Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in shares of Clorox in the 3rd quarter valued at $130,000. Finally, Ancora Advisors LLC bought a new position in shares of Clorox in the 3rd quarter valued at $135,000. Institutional investors own 77.96% of the company’s stock.

About Clorox

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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