WD-40 (NASDAQ:WDFC) Cut to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of WD-40 (NASDAQ:WDFC) from a hold rating to a sell rating in a research report sent to investors on Tuesday, Zacks.com reports.

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. “

Other equities research analysts also recently issued research reports about the company. ValuEngine raised WD-40 from a hold rating to a buy rating in a research report on Friday, November 1st. DA Davidson downgraded WD-40 from a buy rating to a neutral rating and set a $209.00 target price on the stock. in a report on Tuesday, January 7th. Finally, BidaskClub downgraded WD-40 from a hold rating to a sell rating in a report on Saturday, January 4th.

Shares of WD-40 stock traded up $1.56 on Tuesday, hitting $192.46. The stock had a trading volume of 2,239 shares, compared to its average volume of 156,691. The stock has a market cap of $2.62 billion, a price-to-earnings ratio of 47.92 and a beta of 0.25. WD-40 has a twelve month low of $153.91 and a twelve month high of $199.48. The company has a quick ratio of 1.30, a current ratio of 1.84 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average is $193.36 and its two-hundred day moving average is $184.56.

WD-40 (NASDAQ:WDFC) last issued its quarterly earnings results on Thursday, January 9th. The specialty chemicals company reported $0.88 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.99 by ($0.11). The company had revenue of $98.60 million for the quarter, compared to analyst estimates of $104.00 million. WD-40 had a return on equity of 36.50% and a net margin of 13.03%. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.95 EPS. As a group, equities analysts predict that WD-40 will post 4.77 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Thursday, January 16th. This is an increase from WD-40’s previous quarterly dividend of $0.61. WD-40’s dividend payout ratio (DPR) is currently 60.70%.

Several hedge funds have recently modified their holdings of the business. VGI Partners Ltd boosted its holdings in shares of WD-40 by 8.8% in the 2nd quarter. VGI Partners Ltd now owns 367,937 shares of the specialty chemicals company’s stock valued at $58,517,000 after purchasing an additional 29,828 shares in the last quarter. Invesco Ltd. lifted its stake in shares of WD-40 by 40.3% in the 2nd quarter. Invesco Ltd. now owns 231,611 shares of the specialty chemicals company’s stock valued at $36,836,000 after acquiring an additional 66,504 shares during the last quarter. Northern Trust Corp lifted its stake in shares of WD-40 by 0.7% in the 2nd quarter. Northern Trust Corp now owns 200,139 shares of the specialty chemicals company’s stock valued at $31,831,000 after acquiring an additional 1,473 shares during the last quarter. Man Group plc lifted its stake in shares of WD-40 by 27.2% in the 2nd quarter. Man Group plc now owns 190,682 shares of the specialty chemicals company’s stock valued at $30,326,000 after acquiring an additional 40,829 shares during the last quarter. Finally, GW&K Investment Management LLC lifted its stake in shares of WD-40 by 8.5% in the 3rd quarter. GW&K Investment Management LLC now owns 121,048 shares of the specialty chemicals company’s stock valued at $22,217,000 after acquiring an additional 9,523 shares during the last quarter. 87.40% of the stock is currently owned by hedge funds and other institutional investors.

About WD-40

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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