Colgate-Palmolive (NYSE:CL) Upgraded by StockNews.com to “Buy” Rating

Colgate-Palmolive (NYSE:CL) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

Other equities research analysts also recently issued reports about the company. Piper Sandler dropped their target price on Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating on the stock in a report on Monday, March 31st. TD Cowen dropped their price objective on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Raymond James reissued an “outperform” rating and set a $105.00 target price (down from $110.00) on shares of Colgate-Palmolive in a research report on Monday, February 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $101.00 price target on shares of Colgate-Palmolive in a report on Wednesday, January 29th. Finally, UBS Group boosted their price objective on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and an average target price of $102.39.

Colgate-Palmolive Stock Performance

NYSE CL opened at $92.19 on Tuesday. The company has a debt-to-equity ratio of 13.40, a current ratio of 0.92 and a quick ratio of 0.58. Colgate-Palmolive has a 1-year low of $85.32 and a 1-year high of $109.30. The firm has a market capitalization of $74.77 billion, a P/E ratio of 26.19, a P/E/G ratio of 4.20 and a beta of 0.40. The business’s 50-day simple moving average is $92.28 and its 200-day simple moving average is $92.06.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, April 25th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.05. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. The business had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.92 billion. During the same quarter in the previous year, the business posted $0.86 EPS. The business’s quarterly revenue was down 3.0% on a year-over-year basis. Equities analysts predict that Colgate-Palmolive will post 3.75 EPS for the current year.

Colgate-Palmolive declared that its board has initiated a share buyback program on Thursday, March 20th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 6.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Colgate-Palmolive

A number of institutional investors have recently modified their holdings of the business. Robeco Schweiz AG lifted its holdings in Colgate-Palmolive by 53.3% in the first quarter. Robeco Schweiz AG now owns 40,003 shares of the company’s stock worth $3,748,000 after acquiring an additional 13,915 shares during the last quarter. Vestia Personal Wealth Advisors bought a new stake in shares of Colgate-Palmolive in the 1st quarter worth approximately $207,000. Cerity Partners LLC boosted its position in Colgate-Palmolive by 176.1% during the 1st quarter. Cerity Partners LLC now owns 599,782 shares of the company’s stock valued at $56,200,000 after purchasing an additional 382,545 shares during the period. Vision Capital Management Inc. bought a new position in Colgate-Palmolive during the 1st quarter worth $322,000. Finally, Financial Gravity Asset Management Inc. acquired a new stake in Colgate-Palmolive in the first quarter worth $2,166,000. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.