#1 - Clorox (NYSE:CLX)
Clorox (CLX) Hopefully, the idea of washing your hands multiple times a day is a part of everyone’s daily ritual at this time. However, there’s still a need for disinfectants. And Clorox (NYSE:CLX) is one of the top names that comes to mind. The company is perhaps best known for Clorox Bleach, which kills 99.9% of germs on contact. But it also makes the disinfectant wipes and other cleaning products that are a staple in many households.
CLX stock is up over 13% in 2020 and despite the market correction, the stock was still up approximately 2.5% from February 25 to the opening of trading on March 3. The stock has largely been trading up on the assumption that their products will begin to fly off shelves in the upcoming days and weeks.
Clorox is a classic defensive stock. This means it makes products that consumers will buy regardless of market conditions. However, for that reason it also falls out of favor for many growth investors during bull markets. But in the current “flight to quality”, Clorox stands out. First, because given the nature of the Covid-19 virus, the stock should present a growth opportunity.
Second, CLX is one of a small group of Dividend Aristocrats. Clorox has increased its dividend every year for the past 43 years.
About Clorox
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.
Read More - Current Price
- $169.31
- Consensus Rating
- Reduce
- Ratings Breakdown
- 1 Buy Ratings, 9 Hold Ratings, 5 Sell Ratings.
- Consensus Price Target
- $155.00 (8.5% Downside)
