Morgan Stanley Forecasts Strong Price Appreciation for Clorox (NYSE:CLX) Stock

Clorox (NYSE:CLXGet Free Report) had its target price increased by Morgan Stanley from $125.00 to $136.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 15.57% from the company’s previous close.

A number of other brokerages have also recently weighed in on CLX. Evercore ISI decreased their price objective on Clorox from $132.00 to $115.00 and set an “underperform” rating on the stock in a report on Wednesday. The Goldman Sachs Group reduced their price target on shares of Clorox from $110.00 to $94.00 and set a “sell” rating on the stock in a research report on Wednesday, January 7th. Rothschild & Co Redburn lowered their price objective on shares of Clorox from $120.00 to $115.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Wells Fargo & Company increased their target price on shares of Clorox from $108.00 to $115.00 and gave the company an “equal weight” rating in a report on Friday, January 23rd. Finally, Wall Street Zen downgraded shares of Clorox from a “hold” rating to a “sell” rating in a research note on Saturday, January 24th. One research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, Clorox has an average rating of “Reduce” and an average price target of $117.73.

View Our Latest Analysis on CLX

Clorox Stock Performance

Clorox stock opened at $117.68 on Thursday. Clorox has a fifty-two week low of $96.66 and a fifty-two week high of $159.04. The company has a debt-to-equity ratio of 18.01, a quick ratio of 0.50 and a current ratio of 0.76. The stock has a market cap of $14.35 billion, a P/E ratio of 19.23, a price-to-earnings-growth ratio of 0.57 and a beta of 0.59. The firm’s fifty day moving average price is $105.39 and its 200-day moving average price is $113.99.

Clorox (NYSE:CLXGet Free Report) last released its earnings results on Tuesday, February 3rd. The company reported $1.39 EPS for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.04). Clorox had a net margin of 11.17% and a return on equity of 299.67%. The firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the prior year, the company earned $1.55 EPS. The firm’s revenue was down .8% compared to the same quarter last year. On average, equities research analysts expect that Clorox will post 7.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Pierre R. Breber purchased 4,000 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The shares were acquired at an average price of $104.13 per share, for a total transaction of $416,520.00. Following the completion of the acquisition, the director directly owned 13,000 shares in the company, valued at approximately $1,353,690. The trade was a 44.44% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.63% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Total Investment Management Inc. purchased a new position in shares of Clorox during the second quarter valued at about $25,000. Center for Financial Planning Inc. purchased a new position in shares of Clorox during the 3rd quarter worth approximately $25,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Clorox during the 3rd quarter worth approximately $25,000. NewSquare Capital LLC raised its position in shares of Clorox by 567.6% in the 2nd quarter. NewSquare Capital LLC now owns 227 shares of the company’s stock worth $27,000 after acquiring an additional 193 shares in the last quarter. Finally, True Wealth Design LLC lifted its stake in shares of Clorox by 1,020.0% in the 3rd quarter. True Wealth Design LLC now owns 224 shares of the company’s stock valued at $28,000 after purchasing an additional 204 shares during the period. 78.53% of the stock is currently owned by institutional investors.

Clorox News Summary

Here are the key news stories impacting Clorox this week:

About Clorox

(Get Free Report)

The Clorox Company is a leading manufacturer and marketer of consumer and professional products designed to help people care for their homes and live healthy, sustainable lives. Its portfolio spans cleaning and household products, food and beverages, water filtration systems and cat litter, serving both retail and institutional customers. The company’s flagship bleach and disinfecting products are well known in the United States and many international markets, where they help prevent the spread of germs in homes, hospitals, schools and businesses.

Clorox’s diverse brand lineup includes liquid bleach and surface cleaners, eco-friendly cleaning tools, food preservation and preparation items, charcoal grills and briquettes, specialty foods and beverages, pet care products and personal care lines.

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Analyst Recommendations for Clorox (NYSE:CLX)

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