WD-40 Company (NASDAQ:WDFC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

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. “

A number of other equities research analysts also recently issued reports on WDFC. FBR & Co reaffirmed a “neutral” rating and issued a $122.00 price objective (up from $115.00) on shares of WD-40 in a research report on Friday. BidaskClub raised shares of WD-40 from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $117.25.

Shares of WD-40 (NASDAQ WDFC) opened at 109.15 on Tuesday. WD-40 has a 52 week low of $100.60 and a 52 week high of $119.90. The company has a 50-day moving average of $111.33 and a 200 day moving average of $107.84. The firm has a market capitalization of $1.53 billion, a P/E ratio of 29.49 and a beta of 0.72.

WD-40 (NASDAQ:WDFC) last issued its quarterly earnings data on Thursday, October 19th. The specialty chemicals company reported $1.01 earnings per share (EPS) for the quarter, topping 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 39.82%. The business had revenue of $96.60 million during the quarter, compared to the consensus estimate of $106.01 million. During the same period in the prior year, the firm posted $0.99 EPS. The firm’s quarterly revenue was down .6% compared to the same quarter last year. Equities research analysts anticipate that WD-40 will post $3.85 earnings per share for the current year.

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In other news, VP Jay Rembolt sold 676 shares of the stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $112.60, for a total transaction of $76,117.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.90% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. Riverhead Capital Management LLC lifted its stake in shares of WD-40 by 45.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,166 shares of the specialty chemicals company’s stock valued at $129,000 after buying an additional 366 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of WD-40 by 24.5% during the 1st quarter. Victory Capital Management Inc. now owns 1,600 shares of the specialty chemicals company’s stock valued at $174,000 after buying an additional 315 shares in the last quarter. Pinebridge Investments L.P. lifted its stake in shares of WD-40 by 0.6% during the 2nd quarter. Pinebridge Investments L.P. now owns 1,853 shares of the specialty chemicals company’s stock valued at $204,000 after buying an additional 11 shares in the last quarter. Amalgamated Bank lifted its stake in shares of WD-40 by 3.5% during the 2nd quarter. Amalgamated Bank now owns 1,928 shares of the specialty chemicals company’s stock valued at $213,000 after buying an additional 65 shares in the last quarter. Finally, KCG Holdings Inc. purchased a new stake in shares of WD-40 during the 1st quarter valued at approximately $219,000. Institutional investors own 80.00% of the company’s stock.

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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