WD-40 Company (NASDAQ:WDFC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The brokerage presently has a $119.00 price target on the specialty chemicals company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 13.28% from the stock’s previous close.

According to Zacks, “WD-40 Company sells a petroleum-based product, known as WD-40. WD-40 is a multi-purpose product which acts as a lubricant, rust preventative, penetrant, cleaner and moisture displacer. They also sell the 3-IN-ONE Oil. 3-IN-ONE Oil is a lower cost general purpose lubricant that is useful when precise applications of a lubricant are needed. “

Other research analysts have also issued research reports about the company. BidaskClub raised WD-40 from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. FBR & Co reissued a “marketperform” rating on shares of WD-40 in a report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $111.25.

Shares of WD-40 (NASDAQ WDFC) traded down 0.05% on Friday, hitting $105.00. The company had a trading volume of 7,117 shares. The firm’s 50 day moving average price is $107.08 and its 200-day moving average price is $107.44. The stock has a market capitalization of $1.47 billion, a PE ratio of 28.37 and a beta of 0.73. WD-40 has a 52 week low of $100.60 and a 52 week high of $121.10.

WD-40 (NASDAQ:WDFC) last posted its quarterly earnings data on Monday, July 10th. The specialty chemicals company reported $1.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.11. WD-40 had a return on equity of 39.64% and a net margin of 13.85%. The company had revenue of $98.20 million during the quarter, compared to analyst estimates of $99.09 million. During the same quarter last year, the company earned $0.88 EPS. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. Analysts forecast that WD-40 will post $3.68 earnings per share for the current fiscal year.

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In other WD-40 news, VP Jay Rembolt sold 615 shares of WD-40 stock in a transaction on Monday, June 19th. The stock was sold at an average price of $112.00, for a total value of $68,880.00. Following the completion of the sale, the vice president now owns 37,219 shares of the company’s stock, valued at approximately $4,168,528. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders sold 1,854 shares of company stock valued at $203,928. Corporate insiders own 3.90% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Pinebridge Investments L.P. raised its stake in WD-40 by 0.6% in the second quarter. Pinebridge Investments L.P. now owns 1,853 shares of the specialty chemicals company’s stock worth $204,000 after buying an additional 11 shares during the last quarter. State of Alaska Department of Revenue raised its stake in WD-40 by 1.3% in the first quarter. State of Alaska Department of Revenue now owns 1,560 shares of the specialty chemicals company’s stock worth $169,000 after buying an additional 20 shares during the last quarter. Glen Harbor Capital Management LLC raised its stake in WD-40 by 2.4% in the first quarter. Glen Harbor Capital Management LLC now owns 946 shares of the specialty chemicals company’s stock worth $103,000 after buying an additional 22 shares during the last quarter. Elkfork Partners LLC raised its stake in WD-40 by 2.4% in the first quarter. Elkfork Partners LLC now owns 1,204 shares of the specialty chemicals company’s stock worth $131,000 after buying an additional 28 shares during the last quarter. Finally, Meadow Creek Investment Management LLC raised its stake in WD-40 by 2.4% in the first quarter. Meadow Creek Investment Management LLC now owns 1,462 shares of the specialty chemicals company’s stock worth $159,000 after buying an additional 34 shares during the last quarter. 79.42% of the stock is owned by institutional investors and hedge funds.

WD-40 Company Profile

WD-40 Company is a global company engaged in developing and selling products, which solve problems in workshops, factories and homes. The Company’s segments include the Americas; Europe, Middle East and Africa (EMEA), and Asia-Pacific. The Company’s Americas segment includes the United States, Canada and Latin America.

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