WD-40 Company (WDFC) Given “Neutral” Rating at FBR & Co
WD-40 Company (NASDAQ:WDFC)‘s stock had its “neutral” rating restated by investment analysts at FBR & Co in a report released on Friday, Marketbeat.com reports. They currently have a $122.00 price objective on the specialty chemicals company’s stock, up from their previous price objective of $115.00. FBR & Co’s price target would suggest a potential upside of 10.06% from the stock’s current price. FBR & Co also issued estimates for WD-40’s Q1 2018 earnings at $0.82 EPS, Q2 2018 earnings at $1.03 EPS, FY2018 earnings at $3.84 EPS and FY2019 earnings at $4.17 EPS.
A number of other equities research analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of WD-40 from a “hold” rating to a “buy” rating and set a $121.00 price target for the company in a report on Friday, September 1st. BidaskClub upgraded shares of WD-40 from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $117.25.
WD-40 (NASDAQ WDFC) traded down 0.63% on Friday, hitting $110.15. The company had a trading volume of 6,665 shares. The firm’s 50 day moving average price is $111.34 and its 200 day moving average price is $107.81. The stock has a market cap of $1.54 billion, a P/E ratio of 29.76 and a beta of 0.72. WD-40 has a 12-month low of $100.60 and a 12-month high of $119.90.
WD-40 (NASDAQ:WDFC) last released its quarterly earnings results on Thursday, October 19th. The specialty chemicals company reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.04. WD-40 had a net margin of 13.91% and a return on equity of 40.47%. The company had revenue of $96.60 million during the quarter, compared to analysts’ expectations of $106.01 million. During the same period in the prior year, the company earned $0.99 earnings per share. The business’s quarterly revenue was down .6% compared to the same quarter last year. Equities analysts predict that WD-40 will post $3.93 earnings per share for the current fiscal year.
In other news, VP Jay Rembolt sold 582 shares of WD-40 stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $110.00, for a total transaction of $64,020.00. Following the transaction, the vice president now directly owns 37,632 shares of the company’s stock, valued at $4,139,520. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 3.90% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of WDFC. UBS Asset Management Americas Inc. lifted its position in WD-40 by 151.3% in the 1st quarter. UBS Asset Management Americas Inc. now owns 6,635 shares of the specialty chemicals company’s stock valued at $723,000 after acquiring an additional 3,995 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in WD-40 in the 1st quarter valued at $132,000. JPMorgan Chase & Co. lifted its position in WD-40 by 4.2% in the 1st quarter. JPMorgan Chase & Co. now owns 36,314 shares of the specialty chemicals company’s stock valued at $3,956,000 after acquiring an additional 1,462 shares in the last quarter. Victory Capital Management Inc. lifted its position in WD-40 by 24.5% in the 1st quarter. Victory Capital Management Inc. now owns 1,600 shares of the specialty chemicals company’s stock valued at $174,000 after acquiring an additional 315 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in WD-40 by 1.4% in the 1st quarter. Arizona State Retirement System now owns 7,391 shares of the specialty chemicals company’s stock valued at $805,000 after acquiring an additional 100 shares in the last quarter. 80.59% of the stock is currently owned by institutional investors and hedge funds.
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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