WD-40 Company (WDFC) Upgraded by Zacks Investment Research to “Buy”
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.
COPYRIGHT VIOLATION NOTICE: “WD-40 Company (WDFC) Upgraded by Zacks Investment Research to “Buy”” was reported by American Banking News and is owned by of American Banking News. If you are reading this piece on another publication, it was illegally copied and republished in violation of US & international trademark and copyright laws. The original version of this piece can be read at https://www.americanbankingnews.com/2017/08/18/wd-40-company-wdfc-upgraded-by-zacks-investment-research-to-buy.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for WD-40 Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WD-40 Company and related companies with MarketBeat.com's FREE daily email newsletter.