Barclays Forecasts Strong Price Appreciation for Colgate-Palmolive (NYSE:CL) Stock

Colgate-Palmolive (NYSE:CL) had its target price hoisted by analysts at Barclays from $80.00 to $87.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price objective would suggest a potential downside of 5.12% from the company’s previous close.

Other analysts also recently issued research reports about the stock. Rothschild & Co Redburn set a $100.00 price target on shares of Colgate-Palmolive and gave the company a “buy” rating in a research report on Tuesday, April 21st. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Colgate-Palmolive in a research note on Friday, May 1st. UBS Group lifted their price objective on shares of Colgate-Palmolive from $100.00 to $106.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Wall Street Zen downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Sunday, March 29th. Finally, Piper Sandler upped their target price on shares of Colgate-Palmolive from $92.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Twelve analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $97.82.

Colgate-Palmolive Stock Up 1.3%

Shares of NYSE:CL opened at $91.69 on Tuesday. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.67 and a current ratio of 1.02. Colgate-Palmolive has a 52-week low of $74.54 and a 52-week high of $99.33. The business’s 50 day simple moving average is $90.70 and its two-hundred day simple moving average is $88.86. The firm has a market cap of $73.37 billion, a P/E ratio of 35.68, a PEG ratio of 4.77 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, May 1st. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.94 by $0.03. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The firm had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter in the previous year, the company posted $0.91 earnings per share. The company’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, research analysts forecast that Colgate-Palmolive will post 3.81 EPS for the current fiscal year.

Hedge Funds Weigh In On Colgate-Palmolive

Hedge funds and other institutional investors have recently made changes to their positions in the stock. HighPoint Advisor Group LLC boosted its stake in Colgate-Palmolive by 0.7% in the 4th quarter. HighPoint Advisor Group LLC now owns 15,877 shares of the company’s stock worth $1,255,000 after purchasing an additional 109 shares during the period. Clear Harbor Asset Management LLC grew its holdings in Colgate-Palmolive by 2.6% during the 4th quarter. Clear Harbor Asset Management LLC now owns 4,503 shares of the company’s stock valued at $356,000 after buying an additional 113 shares in the last quarter. Moneta Group Investment Advisors LLC raised its position in shares of Colgate-Palmolive by 0.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 15,506 shares of the company’s stock valued at $1,225,000 after buying an additional 114 shares during the last quarter. Cooper Financial Group raised its position in shares of Colgate-Palmolive by 4.0% during the second quarter. Cooper Financial Group now owns 2,947 shares of the company’s stock valued at $270,000 after buying an additional 114 shares during the last quarter. Finally, Gould Capital LLC lifted its holdings in shares of Colgate-Palmolive by 38.7% in the first quarter. Gould Capital LLC now owns 412 shares of the company’s stock worth $35,000 after buying an additional 115 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

About Colgate-Palmolive

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.