Clorox Stock Rating Reaffirmed by Zacks (CLX)
Clorox (NYSE:CLX)‘s stock had its “neutral” rating reaffirmed by Zacks in a report issued on Wednesday, Analyst Ratings News reports. They currently have a $90.00 target price on the stock. Zacks‘ price target would suggest a potential upside of 4.88% from the stock’s previous close.
Zacks‘ analyst wrote, “Battered by higher commodity, manufacturing and logistics costs along with adverse currency exchange rates, Clorox posted a disappointing second quarter fiscal 2014 bottom-line results with earnings falling over 5% year over year while missing the Zacks Consensus Estimate. Further, anticipating pressure from unfavorable foreign currency exchange rates and rising commodity costs, Clorox has lowered its sales and earnings forecasts for fiscal 2014. Despite all this we have maintained our long-term Neutral recommendation on the stock based on its strong fundamentals, supported by its solid market shares and modest growth across all segments except Household segment. Moreover, we believe that Clorox’s strategy of tapping mid-sized economies provides huge growth potential.”
Several other analysts have also recently commented on the stock. Analysts at BTIG Research initiated coverage on shares of Clorox in a research note to investors on Wednesday, January 29th. They set a “buy” rating on the stock. Separately, analysts at JPMorgan Chase & Co. downgraded shares of Clorox from a “neutral” rating to an “underweight” rating in a research note to investors on Wednesday, January 8th. They now have a $90.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at RBC Capital initiated coverage on shares of Clorox in a research note to investors on Monday, November 25th. They set a “sector perform” rating and a $97.00 price target on the stock. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $87.31.
Clorox (NYSE:CLX) traded down 1.38% on Wednesday, hitting $84.63. 1,532,747 shares of the company’s stock traded hands. Clorox has a 52 week low of $79.68 and a 52 week high of $96.76. The stock has a 50-day moving average of $90.23 and a 200-day moving average of $87.76. The company has a market cap of $10.921 billion and a price-to-earnings ratio of 19.88.
Clorox (NYSE:CLX) last announced its earnings results on Tuesday, February 4th. The company reported $0.88 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.91 by $0.03. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter last year, the company posted $0.90 earnings per share. Clorox’s revenue was up .4% compared to the same quarter last year. On average, analysts predict that Clorox will post $4.53 earnings per share for the current fiscal year.
The Clorox Company (NYSE:CLX) is a manufacturer and marketer of consumer and professional products.
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