WD-40 (NASDAQ:WDFC) PT Raised to $280.00

WD-40 (NASDAQ:WDFC) had its target price upped by Jefferies Financial Group from $250.00 to $280.00 in a research report report published on Friday morning, Benzinga reports. They currently have a hold rating on the specialty chemicals company’s stock.

Separately, DA Davidson raised their price objective on WD-40 from $303.00 to $322.00 and gave the company a “buy” rating in a report on Friday.

WD-40 Price Performance

Shares of WDFC opened at $251.25 on Friday. The company has a quick ratio of 1.56, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. WD-40 has a twelve month low of $194.09 and a twelve month high of $278.78. The stock has a market capitalization of $3.40 billion, a P/E ratio of 49.17 and a beta of -0.08. The company has a 50 day moving average of $256.53 and a 200-day moving average of $242.35.

WD-40 (NASDAQ:WDFC) last released its earnings results on Thursday, October 17th. The specialty chemicals company reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.11). WD-40 had a net margin of 11.79% and a return on equity of 32.23%. The business had revenue of $156.00 million during the quarter, compared to the consensus estimate of $149.20 million. During the same period last year, the business posted $1.21 EPS. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, equities research analysts forecast that WD-40 will post 5.3 EPS for the current fiscal year.

WD-40 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 18th will be paid a $0.88 dividend. The ex-dividend date is Friday, October 18th. This represents a $3.52 annualized dividend and a dividend yield of 1.40%. WD-40’s dividend payout ratio is presently 68.88%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in shares of WD-40 in the 3rd quarter valued at about $29,000. DekaBank Deutsche Girozentrale bought a new stake in WD-40 in the first quarter valued at approximately $34,000. Advisors Asset Management Inc. acquired a new stake in shares of WD-40 in the first quarter valued at approximately $43,000. Covestor Ltd boosted its stake in shares of WD-40 by 57.7% during the 1st quarter. Covestor Ltd now owns 216 shares of the specialty chemicals company’s stock worth $55,000 after acquiring an additional 79 shares during the period. Finally, Blue Trust Inc. acquired a new position in shares of WD-40 during the 2nd quarter worth approximately $67,000. Institutional investors own 91.52% of the company’s stock.

WD-40 Company Profile

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 provides multi-purpose maintenance products that include aerosol sprays, non-aerosol trigger sprays, precision pens, and in liquid-bulk form products under the WD-40 Multi-Use brand name; specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand; and bike-specific products.