Clorox (CLX) Downgraded to Hold at Argus

Clorox (NYSE:CLX) was downgraded by research analysts at Argus from a “buy” rating to a “hold” rating in a research report issued on Thursday, Marketbeat reports. They presently have a $127.81 price objective on the stock, down from their previous price objective of $150.40. Argus’ price target suggests a potential downside of 0.77% from the company’s previous close.

CLX has been the topic of several other research reports. Deutsche Bank began coverage on Clorox in a research note on Wednesday, December 13th. They issued a “hold” rating and a $142.00 price objective on the stock. BMO Capital Markets set a $147.00 target price on Clorox and gave the company a “buy” rating in a research report on Monday, February 5th. Jefferies Group reaffirmed a “hold” rating and issued a $130.00 target price on shares of Clorox in a research report on Wednesday, December 13th. Bank of America raised Clorox from an “underperform” rating to a “neutral” rating and set a $155.00 target price on the stock in a research report on Thursday, January 4th. Finally, Zacks Investment Research downgraded Clorox from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. Clorox has a consensus rating of “Hold” and a consensus price target of $131.97.

Clorox (NYSE:CLX) traded up $1.04 during trading hours on Thursday, reaching $128.80. The company’s stock had a trading volume of 1,720,160 shares, compared to its average volume of 1,347,173. The company has a quick ratio of 0.86, a current ratio of 1.22 and a debt-to-equity ratio of 2.35. The company has a market capitalization of $16,667.24, a price-to-earnings ratio of 21.25, a price-to-earnings-growth ratio of 2.41 and a beta of 0.31. Clorox has a 12-month low of $124.09 and a 12-month high of $150.40.

Clorox (NYSE:CLX) last released its quarterly earnings data on Friday, February 2nd. The company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.01. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.43 billion. Clorox had a return on equity of 126.70% and a net margin of 13.21%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.14 earnings per share. equities research analysts forecast that Clorox will post 6.23 earnings per share for the current fiscal year.

In related news, SVP Michael R. Costello sold 10,574 shares of the stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $136.01, for a total transaction of $1,438,169.74. Following the sale, the senior vice president now owns 34,867 shares of the company’s stock, valued at $4,742,260.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.00% of the company’s stock.

Large investors have recently modified their holdings of the stock. Phocas Financial Corp. acquired a new stake in Clorox during the second quarter worth approximately $167,000. Dupont Capital Management Corp acquired a new stake in Clorox during the third quarter worth approximately $199,000. Nicholas Hoffman & Company LLC. acquired a new stake in Clorox during the fourth quarter worth approximately $201,000. Smith Moore & CO. acquired a new stake in Clorox during the third quarter worth approximately $204,000. Finally, Private Asset Management Inc. acquired a new stake in Clorox during the fourth quarter worth approximately $208,000. 73.68% of the stock is currently owned by institutional investors and hedge funds.

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About Clorox

The Clorox Company is a manufacturer and marketer of consumer and professional products. The Company sells its products primarily through mass retail outlets, e-commerce channels, wholesale distributors and medical supply distributors. The Company operates through four segments: Cleaning, Household, Lifestyle and International.

Analyst Recommendations for Clorox (NYSE:CLX)

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