BidaskClub Downgrades WD-40 (WDFC) to Hold

WD-40 (NASDAQ:WDFC) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Several other equities analysts also recently weighed in on the company. B. Riley reiterated a “neutral” rating on shares of WD-40 in a research report on Wednesday, November 1st. Zacks Investment Research downgraded WD-40 from a “hold” rating to a “sell” rating in a research report on Tuesday, October 24th. Finally, FBR & Co restated a “neutral” rating and issued a $122.00 price objective (up from $115.00) on shares of WD-40 in a research report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $117.25.

WD-40 (NASDAQ:WDFC) opened at $119.15 on Tuesday. The firm has a market capitalization of $1,660.00, a price-to-earnings ratio of 32.12, a P/E/G ratio of 3.11 and a beta of 0.67. The company has a current ratio of 2.98, a quick ratio of 2.51 and a debt-to-equity ratio of 0.96. WD-40 has a 52-week low of $100.60 and a 52-week high of $122.65.

WD-40 (NASDAQ:WDFC) last released its earnings results on Thursday, October 19th. The specialty chemicals company reported $1.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.04. The company had revenue of $96.60 million for the quarter, compared to the consensus estimate of $106.01 million. WD-40 had a return on equity of 39.82% and a net margin of 13.91%. WD-40’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.99 earnings per share. equities analysts anticipate that WD-40 will post 3.85 EPS for the current fiscal year.

In other news, VP Jay Rembolt sold 676 shares of the business’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $112.60, for a total value of $76,117.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.62% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in shares of WD-40 in the third quarter valued at about $118,000. Riverhead Capital Management LLC lifted its position in shares of WD-40 by 45.8% in the second quarter. Riverhead Capital Management LLC now owns 1,166 shares of the specialty chemicals company’s stock valued at $129,000 after acquiring an additional 366 shares in the last quarter. Pinebridge Investments L.P. lifted its position in shares of WD-40 by 0.6% in the second quarter. Pinebridge Investments L.P. now owns 1,853 shares of the specialty chemicals company’s stock valued at $204,000 after acquiring an additional 11 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of WD-40 by 17.7% in the second quarter. Victory Capital Management Inc. now owns 1,883 shares of the specialty chemicals company’s stock worth $208,000 after buying an additional 283 shares in the last quarter. Finally, Amalgamated Bank lifted its position in shares of WD-40 by 3.5% in the second quarter. Amalgamated Bank now owns 1,928 shares of the specialty chemicals company’s stock worth $213,000 after buying an additional 65 shares in the last quarter. Institutional investors and hedge funds own 84.20% of the company’s stock.

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WD-40 Company Profile

WD-40 Company is a global company engaged in developing and selling products, which solve problems in workshops, factories and homes. The Company’s segments include the Americas; Europe, Middle East and Africa (EMEA), and Asia-Pacific. The Company’s Americas segment includes the United States, Canada and Latin America.

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