Clorox (NYSE:CLX) Stock Price Expected to Rise, DA Davidson Analyst Says

Clorox (NYSE:CLX - Free Report) had its price target increased by DA Davidson from $153.00 to $171.00 in a research report sent to investors on Monday, Benzinga reports. DA Davidson currently has a neutral rating on the stock.

A number of other analysts also recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Clorox from $148.00 to $174.00 and gave the stock a "neutral" rating in a research note on Friday, October 11th. Wells Fargo & Company reduced their price objective on Clorox from $135.00 to $130.00 and set an "underweight" rating on the stock in a research note on Wednesday, July 10th. Barclays lifted their price objective on Clorox from $137.00 to $139.00 and gave the stock an "underweight" rating in a research note on Friday. Deutsche Bank Aktiengesellschaft lifted their price objective on Clorox from $144.00 to $151.00 and gave the stock a "hold" rating in a research note on Friday, August 2nd. Finally, Jefferies Financial Group raised Clorox from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $174.00 to $187.00 in a research note on Tuesday, October 1st. Six analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $151.57.

Clorox Price Performance

CLX traded down $0.63 on Monday, hitting $162.48. 1,352,007 shares of the company's stock traded hands, compared to its average volume of 1,243,798. The company's 50 day simple moving average is $161.48 and its 200-day simple moving average is $146.19. The firm has a market cap of $20.11 billion, a price-to-earnings ratio of 56.87, a P/E/G ratio of 3.09 and a beta of 0.41. Clorox has a one year low of $125.46 and a one year high of $169.09. The company has a current ratio of 1.00, a quick ratio of 0.63 and a debt-to-equity ratio of 11.08.

Clorox (NYSE:CLX - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.50. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.64 billion. Clorox had a return on equity of 316.08% and a net margin of 4.78%. The firm's quarterly revenue was up 27.0% on a year-over-year basis. During the same quarter last year, the company earned $0.49 EPS. As a group, research analysts anticipate that Clorox will post 6.79 EPS for the current year.

Clorox Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 7th. Stockholders of record on Wednesday, October 23rd will be given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend is Wednesday, October 23rd. Clorox's payout ratio is 170.04%.

Insider Transactions at Clorox

In other news, EVP Angela C. Hilt sold 1,733 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $165.52, for a total transaction of $286,846.16. Following the transaction, the executive vice president now owns 13,471 shares of the company's stock, valued at approximately $2,229,719.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.57% of the company's stock.

Institutional Investors Weigh In On Clorox

Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC lifted its stake in shares of Clorox by 1,525.7% during the 1st quarter. SG Americas Securities LLC now owns 65,612 shares of the company's stock worth $10,046,000 after purchasing an additional 61,576 shares during the last quarter. Mizuho Markets Americas LLC lifted its stake in shares of Clorox by 93.7% during the 1st quarter. Mizuho Markets Americas LLC now owns 72,053 shares of the company's stock worth $11,032,000 after purchasing an additional 34,864 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in shares of Clorox by 15.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 141,622 shares of the company's stock worth $21,705,000 after purchasing an additional 18,687 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Clorox by 257.5% during the 1st quarter. Advisors Asset Management Inc. now owns 11,228 shares of the company's stock worth $1,719,000 after purchasing an additional 8,087 shares during the last quarter. Finally, Raymond James & Associates lifted its stake in shares of Clorox by 32.8% during the 2nd quarter. Raymond James & Associates now owns 267,632 shares of the company's stock worth $36,524,000 after purchasing an additional 66,149 shares during the last quarter. 78.53% of the stock is currently owned by hedge funds and other institutional investors.

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.