Zacks Investment Research Downgrades WD-40 (WDFC) to Hold

WD-40 (NASDAQ:WDFC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Sunday.

According to Zacks, “WD-40 Company is a tribe of passionate, committed professionals, all dedicated to the same goal: to create positive lasting memories in every interaction they have. They’re a global marketing organization dedicated to creating positive lasting memories by developing and selling products that solve problems in workshops, factories and homes around the world. They offer multi-purpose maintenance products, including aerosol sprays, non-aerosol trigger sprays, and in liquid form under the WD-40 Multi-Use brand for various consumer uses; and specialty maintenance products that comprise penetrants, degreasers, corrosion inhibitors, lubricants, and rust removers under the WD-40 Specialist brand name. The company also provides products under the WD-40 Bike product brand consisting of wet and dry chain lubricants, heavy-duty degreasers, and foaming wash products for avid and recreational cyclists, bike enthusiasts, and mechanics; multi-purpose and specialty drip oils, and spray lubricant products. “

Several other brokerages have also commented on WDFC. BidaskClub lowered shares of WD-40 from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. B. Riley restated a “hold” rating and issued a $125.00 price objective on shares of WD-40 in a report on Thursday. Finally, FBR & Co restated a “neutral” rating and issued a $122.00 price objective (up from $115.00) on shares of WD-40 in a report on Friday, October 20th. Five investment analysts have rated the stock with a hold rating, WD-40 presently has an average rating of “Hold” and an average price target of $123.75.

WD-40 (NASDAQ:WDFC) opened at $126.85 on Friday. The company has a quick ratio of 3.29, a current ratio of 3.90 and a debt-to-equity ratio of 1.05. WD-40 has a fifty-two week low of $100.60 and a fifty-two week high of $127.85. The company has a market cap of $1,760.05, a P/E ratio of 33.38, a PEG ratio of 3.20 and a beta of 0.67.

WD-40 (NASDAQ:WDFC) last issued its quarterly earnings data on Tuesday, January 9th. The specialty chemicals company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.83 by $0.07. WD-40 had a net margin of 13.84% and a return on equity of 39.23%. The firm had revenue of $97.60 million for the quarter, compared to analyst estimates of $93.00 million. During the same period in the prior year, the business posted $0.82 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. research analysts anticipate that WD-40 will post 3.94 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in WD-40 by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 1,238,670 shares of the specialty chemicals company’s stock worth $136,687,000 after buying an additional 12,813 shares during the period. Neuberger Berman Group LLC increased its stake in WD-40 by 13.4% during the 3rd quarter. Neuberger Berman Group LLC now owns 670,480 shares of the specialty chemicals company’s stock worth $75,027,000 after buying an additional 79,356 shares during the period. State Street Corp increased its stake in WD-40 by 2.9% during the 2nd quarter. State Street Corp now owns 373,496 shares of the specialty chemicals company’s stock worth $41,210,000 after buying an additional 10,595 shares during the period. Conestoga Capital Advisors LLC increased its stake in WD-40 by 62.7% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 312,775 shares of the specialty chemicals company’s stock worth $35,000,000 after buying an additional 120,575 shares during the period. Finally, Northern Trust Corp increased its stake in WD-40 by 0.9% during the 2nd quarter. Northern Trust Corp now owns 203,200 shares of the specialty chemicals company’s stock worth $22,423,000 after buying an additional 1,827 shares during the period. 81.47% of the stock is currently owned by hedge funds and other institutional investors.

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About WD-40

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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