Clorox (NYSE:CLX – Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday, Wall Street Zen reports.
Several other research analysts also recently issued reports on the company. Barclays reaffirmed an “underweight” rating and set a $84.00 price objective on shares of Clorox in a report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft set a $98.00 price target on Clorox in a research note on Tuesday, August 4th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Clorox in a report on Friday, July 10th. BNP Paribas Exane lowered their price objective on Clorox from $97.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, July 20th. Finally, Citigroup cut their target price on shares of Clorox from $100.00 to $97.00 and set a “neutral” rating on the stock in a research report on Friday, September 11th. Thirteen investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $101.40.
Clorox Stock Performance
Clorox (NYSE:CLX – Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.02. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.91 billion. Clorox had a net margin of 8.74% and a return on equity of 522.23%. The company’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.87 EPS. Clorox has set its FY 2027 guidance at 5.700-6.000 EPS. On average, research analysts anticipate that Clorox will post 5.8 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Clorox
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in shares of Clorox during the 2nd quarter worth about $958,640,000. Van ECK Associates Corp raised its position in shares of Clorox by 15.7% in the 4th quarter. Van ECK Associates Corp now owns 3,136,405 shares of the company’s stock valued at $316,244,000 after acquiring an additional 426,433 shares during the period. Bank of America Corp DE bought a new position in Clorox during the 2nd quarter worth approximately $179,780,000. Arrowstreet Capital Limited Partnership boosted its stake in Clorox by 9.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,619,396 shares of the company’s stock worth $163,284,000 after acquiring an additional 142,463 shares during the last quarter. Finally, Royal Bank of Canada grew its holdings in Clorox by 20.1% during the first quarter. Royal Bank of Canada now owns 1,418,204 shares of the company’s stock valued at $146,969,000 after purchasing an additional 237,301 shares during the period. Institutional investors own 78.53% of the company’s stock.
About Clorox
The Clorox Company is a consumer and professional products company that develops, manufactures and markets household cleaning, disinfecting, wellness and personal care products. Its portfolio includes the Clorox bleach and cleaning brands, as well as products sold under brands such as Pine-Sol, Liquid-Plumr, Fresh Step, Scoop Away, Kingsford, Hidden Valley, Burt’s Bees and Brita.
Clorox also offers trash bags, food products, water-filtration systems, charcoal and grilling products, cat litter, and professional cleaning and disinfecting solutions.
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