Zacks Investment Research upgraded shares of WD-40 (NASDAQ:WDFC) from a sell rating to a hold rating in a research report report published on Friday morning.
According to Zacks, “WD-40 Company is a tribe of passionate, committed professionals, all dedicated to the same goal: to create positive lasting memories in every interaction they have. They’re a global marketing organization dedicated to creating positive lasting memories by developing and selling products that solve problems in workshops, factories and homes around the world. They offer multi-purpose maintenance products, including aerosol sprays, non-aerosol trigger sprays, and in liquid form under the WD-40 Multi-Use brand for various consumer uses; and specialty maintenance products that comprise penetrants, degreasers, corrosion inhibitors, lubricants, and rust removers under the WD-40 Specialist brand name. The company also provides products under the WD-40 Bike product brand consisting of wet and dry chain lubricants, heavy-duty degreasers, and foaming wash products for avid and recreational cyclists, bike enthusiasts, and mechanics; multi-purpose and specialty drip oils, and spray lubricant products. “
A number of other brokerages have also recently issued reports on WDFC. BidaskClub raised WD-40 from a buy rating to a strong-buy rating in a report on Saturday, September 8th. DA Davidson began coverage on WD-40 in a report on Friday. They issued a buy rating for the company. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. WD-40 has a consensus rating of Hold and a consensus price target of $149.67.
WDFC traded up $5.69 on Friday, reaching $175.85. The stock had a trading volume of 128,123 shares, compared to its average volume of 91,828. WD-40 has a fifty-two week low of $115.55 and a fifty-two week high of $184.25. The company has a quick ratio of 1.53, a current ratio of 1.96 and a debt-to-equity ratio of 0.40. The stock has a market cap of $2.35 billion, a PE ratio of 41.20, a PEG ratio of 3.78 and a beta of 0.52.
WD-40 (NASDAQ:WDFC) last issued its earnings results on Thursday, October 18th. The specialty chemicals company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.55. WD-40 had a return on equity of 38.51% and a net margin of 15.96%. The business had revenue of $102.60 million during the quarter. During the same period in the previous year, the company earned $1.01 EPS. WD-40’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, equities research analysts expect that WD-40 will post 4.5 EPS for the current year.
In other WD-40 news, insider Michael L. Freeman sold 6,000 shares of the company’s stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $167.36, for a total value of $1,004,160.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Stanley Sewitch, Jr. sold 2,167 shares of the company’s stock in a transaction dated Monday, October 29th. The shares were sold at an average price of $166.15, for a total value of $360,047.05. The disclosure for this sale can be found here. Insiders sold a total of 15,720 shares of company stock worth $2,630,634 in the last quarter. Corporate insiders own 2.09% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in WDFC. Aperio Group LLC grew its position in shares of WD-40 by 5.3% in the 2nd quarter. Aperio Group LLC now owns 12,376 shares of the specialty chemicals company’s stock valued at $1,810,000 after buying an additional 625 shares during the last quarter. First Trust Advisors LP boosted its position in shares of WD-40 by 26.9% during the 2nd quarter. First Trust Advisors LP now owns 38,086 shares of the specialty chemicals company’s stock valued at $5,570,000 after purchasing an additional 8,068 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of WD-40 by 15.9% during the 2nd quarter. Victory Capital Management Inc. now owns 4,073 shares of the specialty chemicals company’s stock valued at $596,000 after purchasing an additional 558 shares in the last quarter. Virginia Retirement Systems ET AL bought a new stake in shares of WD-40 during the 2nd quarter valued at about $804,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of WD-40 during the 2nd quarter valued at about $430,000. Hedge funds and other institutional investors own 89.89% of the company’s stock.
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 offers multi-purpose maintenance products, including aerosol sprays, non-aerosol trigger sprays, and in liquid-bulk form products under the WD-40 Multi-Use brand name for various consumer uses and industrial applications; specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand; and bicycle maintenance products comprising wet and dry chain lubricants, chain cleaners and degreasers, and foaming wash products for avid and recreational cyclists, bike enthusiasts, and mechanics under the WD-40 Bike brand name.
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