Clorox (NYSE:CLX) Upgraded at Wells Fargo & Company

Clorox (NYSE:CLX) was upgraded by equities research analysts at Wells Fargo & Company from an “underweight” rating to an “equal weight” rating in a research report issued on Tuesday,Briefing.com Automated Import reports. The firm currently has a $157.00 price objective on the stock. Wells Fargo & Company‘s price objective would suggest a potential downside of 0.47% from the company’s previous close.

Several other equities research analysts also recently issued reports on CLX. JPMorgan Chase & Co. raised their target price on shares of Clorox from $148.00 to $174.00 and gave the company a “neutral” rating in a research note on Friday, October 11th. Barclays raised their price objective on Clorox from $137.00 to $139.00 and gave the company an “underweight” rating in a research report on Friday, November 1st. TD Cowen raised Clorox from a “sell” rating to a “hold” rating and boosted their target price for the stock from $155.00 to $170.00 in a report on Wednesday, November 6th. Jefferies Financial Group raised Clorox from a “hold” rating to a “buy” rating and raised their price target for the company from $174.00 to $187.00 in a report on Tuesday, October 1st. Finally, Evercore ISI dropped their price objective on shares of Clorox from $140.00 to $139.00 and set an “underperform” rating on the stock in a research report on Monday, October 14th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $157.46.

Clorox Stock Performance

Shares of NYSE CLX opened at $157.74 on Tuesday. The stock has a market capitalization of $19.53 billion, a PE ratio of 54.96, a price-to-earnings-growth ratio of 3.04 and a beta of 0.42. Clorox has a 52 week low of $127.60 and a 52 week high of $171.37. The stock has a 50 day moving average price of $164.58 and a 200 day moving average price of $155.17. The company has a debt-to-equity ratio of 11.08, a quick ratio of 0.62 and a current ratio of 1.00.

Clorox (NYSE:CLX) last released its earnings results on Wednesday, October 30th. The company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.50. Clorox had a net margin of 4.78% and a return on equity of 316.08%. The business had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same period last year, the business earned $0.49 earnings per share. The firm’s revenue was up 27.0% on a year-over-year basis. Analysts predict that Clorox will post 6.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Clorox

A number of hedge funds and other institutional investors have recently made changes to their positions in CLX. Prospera Private Wealth LLC bought a new position in Clorox during the 3rd quarter worth $27,000. Trifecta Capital Advisors LLC grew its holdings in shares of Clorox by 139.8% during the 2nd quarter. Trifecta Capital Advisors LLC now owns 223 shares of the company’s stock worth $30,000 after purchasing an additional 130 shares in the last quarter. Continuum Advisory LLC raised its stake in Clorox by 300.0% in the third quarter. Continuum Advisory LLC now owns 184 shares of the company’s stock valued at $30,000 after purchasing an additional 138 shares in the last quarter. Quarry LP raised its stake in Clorox by 99.1% in the second quarter. Quarry LP now owns 229 shares of the company’s stock valued at $31,000 after purchasing an additional 114 shares in the last quarter. Finally, Carolina Wealth Advisors LLC bought a new stake in Clorox during the third quarter worth about $48,000. 78.53% of the stock is currently owned by institutional investors and hedge funds.

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.