WD-40 (NASDAQ:WDFC) PT Raised to $280.00 at Jefferies Financial Group

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

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

WD-40 Stock Performance

WDFC opened at $258.52 on Friday. The company has a current ratio of 2.27, a quick ratio of 1.56 and a debt-to-equity ratio of 0.40. The company has a market cap of $3.50 billion, a price-to-earnings ratio of 50.59 and a beta of -0.08. The company’s 50 day moving average is $256.78 and its 200 day moving average is $242.40. WD-40 has a 12-month low of $203.10 and a 12-month high of $278.78.

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

WD-40 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 18th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Friday, October 18th. WD-40’s payout ratio is currently 68.88%.

Institutional Investors Weigh In On WD-40

Institutional investors and hedge funds have recently modified their holdings of the stock. V Square Quantitative Management LLC bought a new stake in shares of WD-40 during the third quarter valued at approximately $29,000. DekaBank Deutsche Girozentrale bought a new stake in WD-40 in the first quarter worth $34,000. Advisors Asset Management Inc. bought a new stake in WD-40 in the first quarter worth $43,000. Covestor Ltd increased its position in WD-40 by 57.7% in the first quarter. Covestor Ltd now owns 216 shares of the specialty chemicals company’s stock worth $55,000 after purchasing an additional 79 shares during the last quarter. Finally, Blue Trust Inc. bought a new stake in WD-40 in the second quarter worth $67,000. Institutional investors own 91.52% of the company’s stock.

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 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.