Clorox (NYSE:CLX) Research Coverage Started at TD Cowen

TD Cowen assumed coverage on shares of Clorox (NYSE:CLX) in a research note released on Tuesday, MarketBeat.com reports. The brokerage issued a sell rating and a $122.00 price target on the stock.

CLX has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft reduced their price target on Clorox from $155.00 to $151.00 and set a hold rating for the company in a research report on Wednesday, April 17th. Barclays cut their price objective on Clorox from $132.00 to $122.00 and set an underweight rating for the company in a report on Friday, July 19th. JPMorgan Chase & Co. cut their price objective on Clorox from $158.00 to $150.00 and set a neutral rating for the company in a report on Monday. Jefferies Financial Group raised Clorox from an underperform rating to a hold rating and set a $145.00 price objective for the company in a report on Tuesday, March 26th. Finally, Argus upgraded Clorox to a hold rating in a research note on Tuesday, June 4th. Six research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $142.13.

Clorox Price Performance

NYSE CLX opened at $133.35 on Tuesday. The business has a 50 day simple moving average of $133.73 and a 200 day simple moving average of $142.70. Clorox has a 52-week low of $114.68 and a 52-week high of $169.14. The company has a debt-to-equity ratio of 9.73, a quick ratio of 0.53 and a current ratio of 0.90. The stock has a market cap of $16.56 billion, a price-to-earnings ratio of 69.09, a PEG ratio of 1.96 and a beta of 0.39.

Clorox (NYSE:CLX) last posted its earnings results on Tuesday, April 30th. The company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.38. Clorox had a return on equity of 302.49% and a net margin of 3.33%. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the prior year, the business earned $1.51 EPS. Clorox’s revenue for the quarter was down 5.3% compared to the same quarter last year. Analysts anticipate that Clorox will post 5.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Clorox by 0.3% in the first quarter. Vanguard Group Inc. now owns 15,277,580 shares of the company’s stock valued at $2,339,150,000 after acquiring an additional 48,632 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Clorox in the fourth quarter valued at about $144,844,000. Bank of New York Mellon Corp grew its position in Clorox by 14.4% in the second quarter. Bank of New York Mellon Corp now owns 961,387 shares of the company’s stock valued at $131,200,000 after acquiring an additional 120,716 shares during the last quarter. Norges Bank bought a new position in Clorox in the fourth quarter valued at about $128,382,000. Finally, Parsifal Capital Management LP bought a new position in Clorox in the fourth quarter valued at about $128,245,000. Institutional investors and hedge funds own 78.53% of the company’s stock.

Clorox Company Profile

The Clorox Company manufactures and markets consumer and professional products worldwide. It operates through four segments: Health and Wellness, Household, Lifestyle, and International. The Health and Wellness segment offers cleaning products, such as laundry additives and home care products primarily under the Clorox, Clorox2, Scentiva, Pine-Sol, Liquid-Plumr, Tilex, and Formula 409 brands; professional cleaning and disinfecting products under the CloroxPro and Clorox Healthcare brands; professional food service products under the Hidden Valley brand; and vitamins, minerals and supplement products under the RenewLife, Natural Vitality, NeoCell, and Rainbow Light brands in the United States.