Morgan Stanley Reaffirms Underweight Rating for Clorox (NYSE:CLX)

Morgan Stanley reaffirmed their underweight rating on shares of Clorox (NYSE:CLX) in a report published on Monday morning, BenzingaRatingsTable reports. They currently have a $134.00 target price on the stock, down from their prior target price of $144.00.

Several other research analysts have also commented on the company. UBS Group boosted their price target on Clorox from $110.00 to $128.00 and gave the stock a sell rating in a research report on Friday, August 2nd. Wells Fargo & Co reaffirmed a hold rating and set a $153.00 target price on shares of Clorox in a research report on Thursday, August 1st. Barclays lowered Clorox from an equal weight rating to an underweight rating and reduced their target price for the company from $142.00 to $141.00 in a research report on Monday, September 23rd. ValuEngine lowered Clorox from a buy rating to a hold rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research raised Clorox from a sell rating to a hold rating and set a $175.00 target price on the stock in a research report on Monday, July 29th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The stock has an average rating of Hold and an average price target of $152.25.

CLX opened at $148.31 on Monday. The firm has a market cap of $19.02 billion, a price-to-earnings ratio of 23.47, a PEG ratio of 5.04 and a beta of 0.40. The company has a current ratio of 0.91, a quick ratio of 0.55 and a debt-to-equity ratio of 4.09. Clorox has a 12 month low of $141.53 and a 12 month high of $167.70. The stock has a fifty day moving average price of $156.71 and a 200-day moving average price of $155.64.

Clorox (NYSE:CLX) last released its quarterly earnings results on Thursday, August 1st. The company reported $1.88 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.84 by $0.04. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.69 billion. Clorox had a return on equity of 118.88% and a net margin of 13.20%. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.66 EPS. On average, equities research analysts forecast that Clorox will post 6.38 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Wednesday, October 30th will be given a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a yield of 2.86%. The ex-dividend date is Tuesday, October 29th. Clorox’s dividend payout ratio is currently 67.09%.

In other Clorox news, SVP Diego J. Barral sold 1,987 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $157.59, for a total transaction of $313,131.33. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director A D. David Mackay sold 3,400 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $154.87, for a total value of $526,558.00. The disclosure for this sale can be found here. Insiders have sold a total of 15,609 shares of company stock worth $2,497,443 over the last ninety days. 1.40% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of CLX. Zions Bancorporation N.A. purchased a new stake in Clorox during the 1st quarter valued at about $28,000. Northstar Capital Management LLC purchased a new stake in Clorox during the 1st quarter valued at about $29,000. Heritage Wealth Advisors purchased a new stake in Clorox during the 2nd quarter valued at about $30,000. Transamerica Financial Advisors Inc. purchased a new stake in shares of Clorox in the second quarter worth about $41,000. Finally, Mirova purchased a new stake in shares of Clorox in the second quarter worth about $47,000. Institutional investors and hedge funds own 78.21% of the company’s stock.

About Clorox

The Clorox Company manufactures and markets consumer and professional products worldwide. It operates through four segments: Cleaning, Household, Lifestyle, and International. The company offers laundry additives, including bleach products under the Clorox brand, as well as Clorox 2 stain fighter and color booster; home care products primarily under the Clorox, Formula 409, Liquid-Plumr, Pine-Sol, S.O.S, and Tilex brands; naturally derived products under the Green Works brand; and professional cleaning, disinfecting, and food service products under the Clorox, Dispatch, HealthLink, Clorox Healthcare, Hidden Valley, KC Masterpiece, and Soy Vay brands.

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Analyst Recommendations for Clorox (NYSE:CLX)

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