WD-40’s (WDFC) Buy Rating Reiterated at DA Davidson

WD-40 (NASDAQ:WDFC)‘s stock had its “buy” rating reaffirmed by research analysts at DA Davidson in a note issued to investors on Tuesday,Benzinga reports. They currently have a $322.00 price objective on the specialty chemicals company’s stock. DA Davidson’s target price indicates a potential upside of 38.23% from the stock’s previous close.

Separately, Jefferies Financial Group lifted their price target on WD-40 from $250.00 to $280.00 and gave the company a “hold” rating in a report on Friday, October 18th.

WD-40 Stock Up 0.5 %

Shares of WDFC stock traded up $1.16 during trading on Tuesday, hitting $232.94. 56,543 shares of the company were exchanged, compared to its average volume of 132,987. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of 44.62 and a beta of -0.04. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.75 and a current ratio of 2.44. The business’s 50-day simple moving average is $259.10 and its 200 day simple moving average is $257.22. WD-40 has a twelve month low of $211.03 and a twelve month high of $292.36.

WD-40 (NASDAQ:WDFC) last posted its quarterly earnings results on Friday, January 10th. The specialty chemicals company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.29 by $0.10. WD-40 had a net margin of 11.78% and a return on equity of 31.68%. The business had revenue of $153.30 million for the quarter, compared to analysts’ expectations of $147.40 million. During the same period in the previous year, the company posted $1.28 EPS. WD-40’s revenue was up 9.2% on a year-over-year basis. As a group, analysts forecast that WD-40 will post 5.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director William B. Noble sold 1,000 shares of WD-40 stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $289.70, for a total value of $289,700.00. Following the transaction, the director now owns 7,999 shares of the company’s stock, valued at $2,317,310.30. This trade represents a 11.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.75% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of WDFC. Envestnet Asset Management Inc. lifted its holdings in shares of WD-40 by 11.8% during the second quarter. Envestnet Asset Management Inc. now owns 60,925 shares of the specialty chemicals company’s stock worth $13,382,000 after buying an additional 6,434 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in WD-40 by 2.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 307,097 shares of the specialty chemicals company’s stock valued at $67,452,000 after purchasing an additional 5,893 shares during the last quarter. Inspire Investing LLC raised its stake in WD-40 by 13.7% during the 2nd quarter. Inspire Investing LLC now owns 1,602 shares of the specialty chemicals company’s stock valued at $352,000 after purchasing an additional 193 shares during the last quarter. Intech Investment Management LLC bought a new stake in WD-40 in the 2nd quarter valued at $955,000. Finally, Sei Investments Co. grew its position in WD-40 by 9.0% in the 2nd quarter. Sei Investments Co. now owns 2,966 shares of the specialty chemicals company’s stock worth $652,000 after purchasing an additional 244 shares during the last quarter. 91.52% of the stock is currently owned by institutional investors and hedge funds.

WD-40 Company Profile

WD-40 Company develops and sells maintenance products, and homecare and cleaning products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides multi-purpose maintenance products that include aerosol sprays, non-aerosol trigger sprays, precision pens, and in liquid-bulk form products under the WD-40 Multi-Use brand name; specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand; and bike-specific products.