BNP Paribas Initiates Coverage on Clorox (NYSE:CLX)

Equities researchers at BNP Paribas assumed coverage on shares of Clorox (NYSE:CLX) in a report released on Monday, Briefing.com reports. The brokerage set an “underperform” rating and a $130.00 price target on the stock. BNP Paribas’ target price suggests a potential downside of 4.86% from the stock’s current price.

Several other brokerages have also recently issued reports on CLX. Deutsche Bank Aktiengesellschaft cut their price target on Clorox from $155.00 to $151.00 and set a “hold” rating for the company in a research note on Wednesday, April 17th. Citigroup cut their price target on Clorox from $155.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. The Goldman Sachs Group assumed coverage on Clorox in a research note on Friday, March 1st. They issued a “sell” rating and a $140.00 price target for the company. DA Davidson reiterated a “neutral” rating and issued a $162.00 price target on shares of Clorox in a research note on Wednesday, April 17th. Finally, UBS Group cut their price target on Clorox from $164.00 to $159.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Five research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $145.33.

Clorox Trading Up 0.7 %

Shares of NYSE:CLX opened at $136.64 on Monday. Clorox has a 12-month low of $114.68 and a 12-month high of $169.14. The stock has a market cap of $16.97 billion, a PE ratio of 70.80, a P/E/G ratio of 2.18 and a beta of 0.39. The business has a 50 day moving average of $137.62 and a 200-day moving average of $144.03. The company has a quick ratio of 0.53, a current ratio of 0.90 and a debt-to-equity ratio of 9.73.

Clorox (NYSE:CLX) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.38. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Clorox had a return on equity of 302.49% and a net margin of 3.33%. The business’s revenue was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.51 earnings per share. As a group, equities research analysts forecast that Clorox will post 5.91 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CLX. LPL Financial LLC increased its holdings in shares of Clorox by 1.5% during the third quarter. LPL Financial LLC now owns 276,835 shares of the company’s stock worth $36,282,000 after buying an additional 4,035 shares in the last quarter. Federated Hermes Inc. increased its holdings in Clorox by 16.4% in the third quarter. Federated Hermes Inc. now owns 4,744 shares of the company’s stock valued at $622,000 after purchasing an additional 670 shares during the period. Cary Street Partners Investment Advisory LLC increased its holdings in Clorox by 42.6% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 2,898 shares of the company’s stock valued at $380,000 after purchasing an additional 866 shares during the period. Meiji Yasuda Asset Management Co Ltd. increased its holdings in Clorox by 21.3% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,163 shares of the company’s stock valued at $546,000 after purchasing an additional 730 shares during the period. Finally, Mutual Advisors LLC increased its holdings in Clorox by 23.2% in the third quarter. Mutual Advisors LLC now owns 3,803 shares of the company’s stock valued at $498,000 after purchasing an additional 717 shares during the period. 78.53% of the stock is currently owned by institutional investors and hedge funds.

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.