JPMorgan Chase & Co. Downgrades Clorox (NYSE:CLX) to Underweight

Clorox (NYSE:CLX) was downgraded by JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a report issued on Friday. They currently have a $99.00 price target on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 3.17% from the company’s previous close.

Other analysts have also issued reports about the company. Jefferies Financial Group reduced their price objective on Clorox from $152.00 to $151.00 and set a “buy” rating on the stock in a research note on Wednesday, February 4th. Evercore lowered their price objective on shares of Clorox from $132.00 to $115.00 and set an “underperform” rating for the company in a research report on Wednesday, February 4th. BNP Paribas Exane raised shares of Clorox from an “underperform” rating to a “neutral” rating in a research note on Wednesday, February 11th. Royal Bank Of Canada dropped their price target on Clorox from $132.00 to $127.00 and set a “sector perform” rating for the company in a research note on Thursday, April 9th. Finally, Morgan Stanley boosted their price objective on Clorox from $125.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 5th. One research analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $113.93.

Clorox Stock Performance

Shares of CLX stock opened at $102.25 on Friday. The stock has a market cap of $12.36 billion, a P/E ratio of 16.74, a P/E/G ratio of 0.51 and a beta of 0.65. The company has a fifty day moving average price of $113.15 and a two-hundred day moving average price of $110.41. Clorox has a one year low of $96.66 and a one year high of $143.96. The company has a debt-to-equity ratio of 71.03, a current ratio of 0.74 and a quick ratio of 0.48.

Clorox (NYSE:CLX) last posted its quarterly earnings data on Tuesday, February 3rd. The company reported $1.39 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.04). The firm had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.64 billion. Clorox had a return on equity of 383.01% and a net margin of 11.17%.The company’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.55 EPS. As a group, equities analysts predict that Clorox will post 7.15 EPS for the current year.

Institutional Trading of Clorox

Hedge funds have recently modified their holdings of the stock. Norges Bank bought a new stake in shares of Clorox during the fourth quarter worth about $135,735,000. Van ECK Associates Corp lifted its stake in Clorox by 93.9% during the 3rd quarter. Van ECK Associates Corp now owns 2,709,972 shares of the company’s stock valued at $334,139,000 after acquiring an additional 1,312,471 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Clorox by 22.1% in the fourth quarter. Invesco Ltd. now owns 4,880,341 shares of the company’s stock valued at $492,085,000 after purchasing an additional 884,751 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Clorox by 6,907.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 749,703 shares of the company’s stock worth $75,593,000 after purchasing an additional 739,005 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC bought a new stake in Clorox in the 2nd quarter worth about $71,856,000. Institutional investors own 78.53% of the company’s stock.

Clorox Company Profile

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.