Clorox (NYSE:CLX) Rating Lowered to “Sell” at Wall Street Zen

Clorox (NYSE:CLX) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Several other research firms have also commented on CLX. UBS Group boosted their price target on Clorox from $100.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. Zacks Research downgraded Clorox from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 12th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Clorox in a research note on Friday, July 10th. Citigroup boosted their target price on shares of Clorox from $97.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. Finally, Barclays reissued an “underweight” rating and set a $84.00 price target on shares of Clorox in a research report on Tuesday, August 4th. Twelve analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $102.40.

Clorox Price Performance

NYSE CLX opened at $105.85 on Friday. The company has a debt-to-equity ratio of 15.80, a quick ratio of 0.38 and a current ratio of 0.66. The firm’s 50 day moving average price is $98.08 and its 200-day moving average price is $103.24. Clorox has a 52-week low of $84.70 and a 52-week high of $128.90. The company has a market cap of $12.80 billion, a PE ratio of 21.96, a P/E/G ratio of 3.15 and a beta of 0.54.

Clorox (NYSE:CLX) last issued its quarterly earnings data on Monday, August 3rd. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.02. The company 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%. Clorox’s revenue was down 2.0% compared to the same quarter last year. During the same period last year, the company posted $2.87 earnings per share. Clorox has set its FY 2027 guidance at 5.700-6.000 EPS. Sell-side analysts forecast that Clorox will post 5.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Clorox

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in shares of Clorox in the 2nd quarter valued at approximately $958,640,000. Norges Bank purchased a new stake in Clorox during the 4th quarter worth approximately $135,735,000. Bank of New York Mellon Corp purchased a new stake in Clorox during the 2nd quarter worth approximately $123,154,000. Equity Investment Corp acquired a new position in Clorox during the 2nd quarter valued at approximately $111,800,000. Finally, Invesco Ltd. increased its stake in Clorox by 22.1% during the 4th quarter. Invesco Ltd. now owns 4,880,341 shares of the company’s stock valued at $492,085,000 after purchasing an additional 884,751 shares in the last quarter. 78.53% of the stock is currently owned by hedge funds and other institutional investors.

About Clorox

The Clorox Company is a leading manufacturer and marketer of consumer and professional products designed to help people care for their homes and live healthy, sustainable lives. Its portfolio spans cleaning and household products, food and beverages, water filtration systems and cat litter, serving both retail and institutional customers. The company’s flagship bleach and disinfecting products are well known in the United States and many international markets, where they help prevent the spread of germs in homes, hospitals, schools and businesses.

Clorox’s diverse brand lineup includes liquid bleach and surface cleaners, eco-friendly cleaning tools, food preservation and preparation items, charcoal grills and briquettes, specialty foods and beverages, pet care products and personal care lines.